BIG GROUP

[webberg]

Winchester, Sanzar, IQ, Infinity, Garraway

Many BG members will have received at least one, perhaps two, message from an Andrew Thompson who claims to represent a firm called DOR Resolutions Ltd.

Thompson and DOR is a copy cat of the project we saw executed by Trust Help Line (sic) and Baker Tilly in the period to March 2019. (As an aside I see that one of the directors of THL has now left leaving the company in the control of the younger lady).

Essentially the message is that the loans made under the schemes remain outstanding regardless of the tax situation and for a modest fee, Thompson/DOR can arrange for the loans to be written off - or you can repay the loan.

Let us be clear.

A loan that is written off will create a tax charge. Now that we are past the loan charge deadline, there is a mechanism under which the tax HMRC claim is due under the loan charge is treated as meeting some/all of the charge on the write off. Where however the loan charge tax is higher than the write off charge, no refund is available.

A loan that is repaid puts money in the hands of the lender. Where that lender is a trust and where you are a beneficiary, it is possible, but not certain, that the trustee make distribute that money to you. (The messages are silent on this). Should a distribution be made, it is taxable. In theory if you can show that the distribution is the "same" money taxed under the loan charge, the credit process applies. If you cannot, then you have two tax charges.

For the above and other reasons, we are of the view that the tax position as represented in the messages is - at best - incomplete. You should not rely upon its accuracy.

We have prepared a longer analysis that is available upon request and is also now in the resources section of the BG forum.

In short, you are not obliged to do anything and in our view, should not do anyhting at this time.

[webberg]

Thank you all for the thoughts.

I view criticism of our technical views and questions over our motivations as generally constructive and often I suspect ask the sort of thing that many would feel unable to. As such I don't really have any reason not to respond or explain.

When people resort to personal insult, I just have to accept that a) it comes with the territory if I post to a public forum and b) they have no constructive argument left and are just venting.

Unfortunately we have seen that those who were forthright and certain that they would "stand behind" the schemes with which they were associated, fall away, often imploding the promoter vehicles and associated entities along with any vestiges of a support system; a failure to bring any meaningful case to Tribunal; a desire in some instances to extract more fees from their victims; or themselves fall victim to the sort of mindset that views contractors as a body to be exploited.

More unfortunately, looking at the industry that feeds on contracting and the public actions at least of the trade bodies in this area, I see very little except a desire to continue making fees, regardless of the real cost.

I'm not claiming that we are not motivated by similar aims, but I like to think that at least we are honest and that we want to see an end to enquiry and a safe tax/financial environment moving forward.

[BrilloPad]

The attacker was just a sock puppet-registers a few hours before then posts 3 messages attacking people trying to help.
To be ignored I think.


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I agree - except I would go further. I would like to see the poster banned and the messages removed. I don't see why webberg should have to suffer that nonsense when he is clearly trying to help.

[TheInvoicer]

I find it deeply regretable that advisers trying to help people get the blame instead of HMRC. Shoot the messenger.

The attacker was just a sock puppet-registers a few hours before then posts 3 messages attacking people trying to help.
To be ignored I think.


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[BrilloPad]

I find it deeply regretable that advisers trying to help people get the blame instead of HMRC. Shoot the messenger.

[cojak]

This kinda stuff = the people who for their own reasons are unhappy with BG and want to express their opinions. Try general, they'll be happy to hear from you

WPBS.

[NeedTheSunshine]

[email protected]


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That would explain it!

[TheInvoicer]

Did you register with an HMRC email address?

[email protected]


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[jonnieboy]

This kinda stuff?

He makes out he's Mr Integrity when he's designed tax products for a living. All those media briefs good for your ego Webberg? You and that clown from Contractor Calculator are sickening.

So tell us, how fairs Big Group? Think you're going to win? you'd better hope so now the LC is in play.

Did you register with an HMRC email address?

[webberg]

Jimmy, if you want to make personal insults then you'll find that they carry more weight if we know who you are?

I have explained why I post to these threads, many times. I have been crystal clear as to the potential commercial motives and I have usually taken pains to seek permission from the mods here so as not to transgress their rules on advertising.

I have faced (and ignored) such ill founded and ignorant accusations in the past and it has not stopped me from posting.

You will not stop me either.

You will however forgive me for making this my last response to you as I just don't have time.