BIG GROUP

[webberg]

Don’t believe the hype.. I know someone who registered for CLSO and HMRC came back with “would you mind telling us what schemes you were involved with?”
So despite all the rumour.. it appears they don’t know everything

If you go for HMRC settlement, it's a process designed to allow both parties, you and HMRC, to reach an agreement based on full disclosure.

You are expected to approach the process with "clean hands", i.e. not withholding information that is pertinent to the agreement you wish to conclude. Equally HMRC is expected to be clear as to their position and what the agreement finalises in terms of liability.

It is therefore wholly within the "rules" of the process for HMRC to ask you to disclose the schemes/loans/years etc that you want to be included.

Failure to disclose risks the agreement subsequently being invalidated. If that happens (rare I admit), expect heavy penalties.

Whilst I have my doubts about whether HMRC uphold their end of the bargain in terms of finality etc, this does not excuse non disclosure.

Be clear. If you choose to withhold information properly requested for the purpose of the contract, you are running a significant risk.

[Finalwhistle]

Settlement is final.
No refunds whatever.
On a previous content.
Yes the providers, if still around, must inform HMRC.
Burying your head in the sand is not an option.
In my case although leaving in 2004 I still have dealings with HMRC.
One of my trusts is still active, even tried getting a large wedge of cash to supposedly circumvent the LC.
So it will be reported and I am in Europe.

By now with people settling I would think HMRC are aware of most if not all scheme providers.
They also, from tax return data, know who worked for what scheme when.
So does anyone think there is a realistic chance of hiding, unless you have no ties with the UK at all?

Don’t believe the hype.. I know someone who registered for CLSO and HMRC came back with “would you mind telling us what schemes you were involved with?”
So despite all the rumour.. it appears they don’t know everything

[joed]

....unless you have no ties with the UK at all?[/QUOTE]

Yes, with no ties to the uk....

[me206et]

CLSO settlement is final is it not? Is there any point in holding out some small sliver of hope that these 'action groups' will somehow overturn HMRC and be forced to pay us back something at some distant point in the future? And can anyone recommend a reasonably secure country to go live in where one will not be harassed by it all?

Settlement is final.
No refunds whatever.
On a previous content.
Yes the providers, if still around, must inform HMRC.
Burying your head in the sand is not an option.
In my case although leaving in 2004 I still have dealings with HMRC.
One of my trusts is still active, even tried getting a large wedge of cash to supposedly circumvent the LC.
So it will be reported and I am in Europe.

By now with people settling I would think HMRC are aware of most if not all scheme providers.
They also, from tax return data, know who worked for what scheme when.
So does anyone think there is a realistic chance of hiding, unless you have no ties with the UK at all?

[joed]

CLSO settlement

CLSO settlement is final is it not? Is there any point in holding out some small sliver of hope that these 'action groups' will somehow overturn HMRC and be forced to pay us back something at some distant point in the future? And can anyone recommend a reasonably secure country to go live in where one will not be harassed by it all?

[GreenMirror]

i agree... If i were in that situation (no open enquiries and schemes dating prior to 2004 + out of the country)...I would not be on this thread. I wouldn't even be giving a second thought. Sounds like happy days to me..

Does the promoter have a legal duty to report the loans? Will HMRC be contacting all promoters?

[Loan Ranger]

i agree... If i were in that situation (no open enquiries and schemes dating prior to 2004 + out of the country)...I would not be on this thread. I wouldn't even be giving a second thought. Sounds like happy days to me..

+1

What loan charge, never heard of it.

[Finalwhistle]

If you're abroad, then you're presumably not filling in UK Tax Returns (unless you are...) and you have no open comms with HMRC, in which case you never knew about the LC and were never asked to send in any details to HMRC.

You're talking about a 14+ year old tax situation.

Realistically what can HMRC expect you to do? I fail to see any way in which HMRC would deem you to have evaded the LC. If they ever catch up with you then how can they insist you are culpable?

In which case, logically, go and live your life and only if HMRC catch up with you take action then.

Or am I missing something?

i agree... If i were in that situation (no open enquiries and schemes dating prior to 2004 + out of the country)...I would not be on this thread. I wouldn't even be giving a second thought. Sounds like happy days to me..

[ChimpMaster]

As is frequently said, it all depends on your position.
I left the UK in 2004.
My loans are all pre that and have no open enquiries.
So the difference between settlement and LC is heavily in favour of settlement.
I would love to fight but BG would have to make a saving of about 50% on the LC to make it worth while.
Plus I am sure it will take years and I would expect at least apn's or major penalties if the full amount is not in the HMRC coffers when due.
So years spent fighting for a rebate, which they will pay crap interest on, if successful.
Add to that the extra stress and i think my mind is sadly made up.

If you're abroad, then you're presumably not filling in UK Tax Returns (unless you are...) and you have no open comms with HMRC, in which case you never knew about the LC and were never asked to send in any details to HMRC.

You're talking about a 14+ year old tax situation.

Realistically what can HMRC expect you to do? I fail to see any way in which HMRC would deem you to have evaded the LC. If they ever catch up with you then how can they insist you are culpable?

In which case, logically, go and live your life and only if HMRC catch up with you take action then.

Or am I missing something?

[me206et]

As is frequently said, it all depends on your position.
I left the UK in 2004.
My loans are all pre that and have no open enquiries.
So the difference between settlement and LC is heavily in favour of settlement.
I would love to fight but BG would have to make a saving of about 50% on the LC to make it worth while.
Plus I am sure it will take years and I would expect at least apn's or major penalties if the full amount is not in the HMRC coffers when due.
So years spent fighting for a rebate, which they will pay crap interest on, if successful.
Add to that the extra stress and i think my mind is sadly made up.