BIG GROUP

[webberg]

Yes, thanks - context is all.

My assumption was that the poster and his family were looking for a degree of finality and at the moment, lacking though it is in important ways, the HMRC offer is the best route to that.

We have meetings with HMRC regularly and discuss the position on schemes and share what we know, accept that we may not know some things and how the law - as written - applies.

At the moment, it's fair to say that HMRC has a view on the written law that is sometimes difficult to reconcile with the facts and the law. Their habit of thinking one thing whilst the law says another is hard to break.

[Runster]

You should probably clarify what you mean here Graham - as far as I can see BG does 'come clean' with HMRC insofar as you deal with them honestly and openly.
I think what you mean by 'coming clean' is agreeing with HMRC's analysis.

My wife is very emotional at the moment (as are many others' wives / husbands who find themselves in the good ship Loan Charge, I'm sure). What she means by 'come clean', I think, is that I should tell HMRC the facts and settle my liability and be done with it. She's very Catholic in her outlook. But in my view, the promoters and agencies etc. who profited, share the liability, but HMRC is taking the line of least resistance, taking on individuals caught up in it. Well, my view (which I intend to convince my wife is valid) is that BG is not hiding anything from HMRC, far from it, and will 'come clean' in term of disclosure, but will seek to limit contractor's liability to a fair share, and if HMRC want to go after the promoters for their share of the liability, I for one would be delighted, but that's up to them. I'm happy to pay some back tax (maybe from when the legislation got Royal assent, for example) but I am not paying the promoters' liability 'cos HMRC can't or won't pursue them.

[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.

[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?

[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..

[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.

[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?

[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?

[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]

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

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