BIG GROUP

[TykeMerc]

Sounds like a wise step to take, it will do no harm at all to have an organised approach. Hopefully as a group you can reach an equitable solution.

[webberg]

Good numbers and bad

OK, I've done a very basic spreadsheet.

(Excel is so simple even tax types can use it).

Based on my projections and assumptions which are:

Space starting at £700 a month and increasing every 12 months.
4 full time people - head admin at £60k, 1 x £45k, 2 x £30k increasing at 3% pa and 10% bonus at end
Professional fees at £1.7m to include weekly supervision and advice on strategy - attending steering group meetings etc plus advocate for cases (I've spread these evenly from month 3 onwards but in reality much more lumpy)
Monthly overhead at 5% of income, reducing to 2.5%.

Hoping we may know some people who have some cloud space and some expertise in IT who might do a job for cash in hand.

If that is about right.

We would need 500 people paying £60 to seed the group.

That is £50 starter plus £10 monthly fee.

The starter fee to be repaid from surplus funds around 12 months later.

Then we build - aggressively.

If you're not on board in 6 months, the boat has sailed.

Monthly cost is £10 for 60 months.

In the event that resolution is quickly the balance unpaid is accelerated. In other words if we're done and dusted at month 18, you have to pay (60-18)*£10 because the QC's etc still need paying.

At £10 a month we need 4,650 members.
At £12 a month we need 3,875 members.
At £15 a month we need 3,100 members.
At £20 a month we need 2,330 members.

We need a steering group. I suggest no more than 0.25% of total membership otherwise top heavy.

The numbers appear to work although there are some squeaky bum months but trying to predict when fees might hit is a guessing game and anything beyond 6 months is increasingly inaccurate.

In terms of operation it would be a steering group of members plus an expert panel (willing to act for contingent or monthly fees). After an initial flurry of meetings perhaps once a month. Admin officer (actually more a coordinator role running the office and website etc) to report regularly and via website updates.

All cash contributions to be held in name of steering committee (not experts or fee earners) and released only on suitable mandate.

Any surplus funds to be returned.

Objectives to be clearly established and pursued.

Confidentiality CRITICAL.

NEXT STEPS

Develop the brief and ideas for objectives
Expressions of interest.
Private forum - offers to set up please?
(self) Nominations for steering committee - probably not permanent


DECLARATION

I have been pushing the idea of a cross provider group for a long time.
I do see commercial advantage in it for my new firm but I'd be happy to take part in a beauty parade of potential members of the expert panel and take my chances.
I'd be happy to model objectives and articles etc on those I have for other tax groups but I reserve the right to charge for my time to get this established but would agree a cap.

[flamel]

Hopefully as a group you can reach an equitable solution.

That's the plan - we should remind HMRC of one of the maxims of equity "delay defeats equity"

[webberg]

Do you think HMRC would allow the £10 a month to be included in my list of outgoings when I'm working out my APN TTP with them ;-)

Absolutely.

This is a compliant, DOTAS registered and notified scheme.

[DotasScandal]

Hoping we may know some people who have some cloud space and some expertise in IT who might do a job for cash in hand.

Cash in hand? I hope David Gauke isn't reading

[MercladUK]

I am in. But can I clarify.

Will this action group include Post 2011 schemes as well?

[StrengthInNumbers]

1) lets setup the sheet on google docs and allow others to comment and see

2) I can do the website. Host it in cloud - azure. Will do my work for free - only charge the hosting cost. (If anyone else wants to do it welcome)

3) do we need to form an association or something?

4) my biggest concern is that to defend the scheme, we will need details and documentation on how the schemes were implemented. Don't know how we can get that with promoters gone (for me luckily promoter is around and doing it)

5) don't we need a more concrete action plan and what the benefits would be? What the 4 staffs would do ( I would have thought a project co ordinator - prince certified - like my wife would be enough for office work instead of 4 - might be wrong without a more detailed plan)

[Sky Rocket]

I'm in...

[Scruff]

Where is the .xlsx? I could do with the technical calc? Je suis Charlie

[LandRover]

United we are stronger

Count me in.

HMRC need to understand that we can make it a costly exercise and time consuming for them too