BIG GROUP

[webberg]

Big Group reopened today.

I suggest that you read our website for details.

https://www.wttconsulting.co.uk/wttbiggroup

We have closed the first iteration of our planned resolution.

The principles behind that will probably drive the next iteration as well. We suspect however that the details will change.

We would reiterate that we have no HMRC agreed plan to bring matters to a close. HMRC continues its approach of arguing that all payments are taxable but we have an increasing wave of information that the consistent story from HMRC is starting to unwind.

Cost is £200 to join and £18 a month.

We have detail of around 120 schemes, contacts with most of the lenders and understand how they work. We have no connection with any scheme or promoter.

Our focus is settlement.

That means dealing with all enquiries leading up to that point and applying common knowledge and information to the benefit of all.

[Silverskin]

Thanks Webberg

[Daley]

Thanks webberg. I applied to join earlier today so am waiting to be contacted to confirm acceptance etc.

[Silverskin]

Big Group reopened today.

I suggest that you read our website for details.

https://www.wttconsulting.co.uk/wttbiggroup
.

Hi,
do you know how long the membership window will remain open?

The link to the page you posted includes the following text:

"...If you are a contractor who is subject to ongoing enquiry from HMRC you should consider joining WTT Big Group..."

If you're not part of any on-going enquiry presumably you'd still recommend joining the group if you're looking to find a way to resolve your own loans situation/liability? I have no ongoing enquiry but I'm expecting to be caught up in the loan charge etc. My loans date back to the early 2000's and I need to find the right resolution for my situation.

Thanks

[webberg]

Big Group is open and we have no plans to close it.

I suspect that if we can find a suitable plan, then it would be sensible to execute any actions required before 5th April 2019 (belt and braces approach) but unless we see some forestalling law (which in any event may be effective as soon as announced), we would perhaps not close it until say Q1 2019.

We are considering whether later joiners should be paying more than earlier in order to prevent free loading. Presently, those who joined Big Group before the end of July 2016 pay nothing other than the monthly fees of £18.

Those who joined after that and who took up the first iteration are liable for an additional £1,500 plus VAT fee which is payable in three equal instalments in April 2017, 2018 and 2019.

If we have a new plan in due course, then there will be a fee, probably in instalments. How much that might be we don't know but it's unlikely to be less than £1,500 plus VAT. As with the first iteration, if we have something we think is suitable, we will announce in advance a cut off point. Pre that date, the fee is likely to be close to the above, post that point it's likely to be higher for the reasons given.

[bhand5]

Hi webberg,
Are you able to advise what sort of settlement deal the first interation got?

[Silverskin]

Hi webberg,
Are you able to advise what sort of settlement deal the first interation got?

Yes I would endorse that request. In the interests of managing expectations and understanding how Big Group can help it would be useful to get an appreciation of what has previously been achieved.

Thanks

[webberg]

Let me be clear.

The first group has not yet settled. They were advised as to the detail of the proposal we have, its risks and rewards and potential outcomes. In particular the process of discussing the plan with HMRC is expected to reach deep into 2018 and perhaps beyond.

There is therefore no tangible result to report for the moment.

Given that HMRC will not agree anything except their analysis, expecting them to roll over at the first hint of resistance was never going to happen.

We believe in our approach and will fight to the last penny we have to prove it. I hope it will not end in litigation, but it may well do so. If that is the case, then a Tribunal date in 2019 is hoped for but not guaranteed.

Do not have an expectation that Big group will produce a settlement that runs on rails according to a strict timetable and arrives at a pre determined destination at the correct time. Tax enquiries are subject to a seemingly endless stream of diversions and the winds of fortune and events, good and bad.

HMRC will not agree anything that gives future certainty on tax. Often we see different HMRC units disagree on analysis and policy. We have seen promises made and broken by HMRC in the same month. We are dealing with a capricious and inconsistent beast that will only be made worse no matter who wins the Election.

If you want certainty then your only option is to take HMRC's offer (and live with the deficiencies of that).

If you want to fight to the last minute, join a litigation group.

If you want a fighting chance at a reduced settlement value (possibly very reduced), but with a roller coaster ride adding to the excitement, join Big Group.

If I could offer certainty I would be very busy and very, very wealthy.

Instead I offer a decent chance and am very, very busy and because we reflect the uncertainty in our fees, not that wealthy (at all).

[Silverskin]

Let me be clear.

The first group has not yet settled. They were advised as to the detail of the proposal we have, its risks and rewards and potential outcomes. In particular the process of discussing the plan with HMRC is expected to reach deep into 2018 and perhaps beyond.

There is therefore no tangible result to report for the moment.

Given that HMRC will not agree anything except their analysis, expecting them to roll over at the first hint of resistance was never going to happen.

We believe in our approach and will fight to the last penny we have to prove it. I hope it will not end in litigation, but it may well do so. If that is the case, then a Tribunal date in 2019 is hoped for but not guaranteed.

Do not have an expectation that Big group will produce a settlement that runs on rails according to a strict timetable and arrives at a pre determined destination at the correct time. Tax enquiries are subject to a seemingly endless stream of diversions and the winds of fortune and events, good and bad.

HMRC will not agree anything that gives future certainty on tax. Often we see different HMRC units disagree on analysis and policy. We have seen promises made and broken by HMRC in the same month. We are dealing with a capricious and inconsistent beast that will only be made worse no matter who wins the Election.

If you want certainty then your only option is to take HMRC's offer (and live with the deficiencies of that).

If you want to fight to the last minute, join a litigation group.

If you want a fighting chance at a reduced settlement value (possibly very reduced), but with a roller coaster ride adding to the excitement, join Big Group.

If I could offer certainty I would be very busy and very, very wealthy.

Instead I offer a decent chance and am very, very busy and because we reflect the uncertainty in our fees, not that wealthy (at all).

Thanks Webberg, I appreciate what you're saying here.

In terms of taking HMRC's offer, do we have clarity on what that offer actually is?!

[regron]

Pre 2011 schemes = tax on loans received plus interest.

Post 2011 schemes = tax on loans, plus promoter fees (so tax on 100% of all invoices regardless of how much you actually received), plus class 4 NI, plus interest.

Also IHT is also a possibility depending on the structure of the schemes you were in, plus other parameters not totally clear. Just how HMRC like it.