HMRC Scheme Enquiries: Network One

[Gumper]

Interest charges

Webberg is there any updates.
I know you and the big group and other groups tried your best against this loan charge fiasco but to no avail.
Only thing now is early settlement or the loan charge.
I have gone for early settlement but they want £7000 in interest charges. Talk about adding insult to injury.
Ive argued with HMRC as they caused the delays but they say everyone has to pay the interest. Has anyone successfully challenged the interest charges

[DealorNoDeal]

Webberg is there any updates.
I know you and the big group and other groups tried your best against this loan charge fiasco but to no avail.
Only thing now is early settlement or the loan charge.
I have gone for early settlement but they want £7000 in interest charges. Talk about adding insult to injury.
Ive argued with HMRC as they caused the delays but they say everyone has to pay the interest. Has anyone successfully challenged the interest charges

Unfortunately, interest is statutory so HMRC are not allowed to offer concessions.

For the early 2000s it's a killer (6-8% a year).

[webberg]

Webberg is there any updates.
I know you and the big group and other groups tried your best against this loan charge fiasco but to no avail.
Only thing now is early settlement or the loan charge.
I have gone for early settlement but they want £7000 in interest charges. Talk about adding insult to injury.
Ive argued with HMRC as they caused the delays but they say everyone has to pay the interest. Has anyone successfully challenged the interest charges

Network One and its successors Quantum and Endeavour have a group of users who are contesting HMRC's version of the truth.

This is the CCR Group.

I can put you in touch with them if you PM me.

As to "no avail", I think you'll find that we take the first litigation steps on the scheme later this month.

[Where did it all go wrong]

As to "no avail", I think you'll find that we take the first litigation steps on the scheme later this month.

I'm thinking the poster said to 'no avail' because it takes about 5 years to litigate. by your own admission you are now only about to take 'first litigation steps'.
So, if you are only taking FIRST STEPS this month, that means that BG members will be dragged along paying monthly fees for another 5 years? Way to make loads of money. Considering LCAG JR costs were estimated at £1million, what are BG costs estimated as?

Also, no tax advisor I have asked nor any barrister has ever agreed the 65% claim..

[DealorNoDeal]

I'm thinking the poster said to 'no avail' because it takes about 5 years to litigate. by your own admission you are now only about to take 'first litigation steps'.
So, if you are only taking FIRST STEPS this month, that means that BG members will be dragged along paying monthly fees for another 5 years? Way to make loads of money. Considering LCAG JR costs were estimated at £1million, what are BG costs estimated as?

Also, no tax advisor I have asked nor any barrister has ever agreed the 65% claim..

Although it's only 18 quid a month.

[Where did it all go wrong]

Although it's only 18 quid a month.

is it only £18? what a bargain for not having taken anything to court or even having a date booked.

18 x #members x#years with no action = ££££££££ then times that by 5 more years to litigate if starting this month...

lets guess here... lets say there are 3000 members .... and lets say they have been paying in for only 2 years

and that there is no joining fee or other top ups required...

that's still over £1.2million and more than RVQC asked for to litigate for LCAG. whether you think RV did a decent job or not, at least there was a timeline that was communicated and met. seems that BG promises everything (at 65% success rate) and delivers nothing.

as for keeping secret about strategies... skeleton arguments always have to be shared with HMRC so that doesnt stand up to scrutiny either.

I note that he has gone from a super poster all over CUK to practically non-existant. shocked.

[DealorNoDeal]

For many scheme users I doubt there's any alternative to BG.

Going it alone would cost a fortune. (Unless you represent yourself, of course. )

Setting up your own group would be a major hassle, and would only make the legal fees affordable if you can get enough people to join.

There are a couple of other established groups out there pursuing litigation but they are specific to particular schemes eg. "Edge". As far as I'm aware, BG are the only group representing all contractor loan schemes.

[DanJackiels]

For many scheme users I doubt there's any alternative to BG.

Going it alone would cost a fortune. (Unless you represent yourself, of course. )

Setting up your own group would be a major hassle, and would only make the legal fees affordable if you can get enough people to join.

There are a couple of other established groups out there pursuing litigation but they are specific to particular schemes eg. "Edge". As far as I'm aware, BG are the only group representing all contractor loan schemes.

How does it work then, if i join BG tomorrow...do i get the same level of representation as someone who has been paying in for 5 years? if we both used the same loan scheme in the past etc.

[DealorNoDeal]

How does it work then, if i join BG tomorrow...do i get the same level of representation as someone who has been paying in for 5 years? if we both used the same loan scheme in the past etc.

I seem to recall that there is a higher up-front joining fee now, but you'd need to ask them that.

[Where did it all go wrong]

I seem to recall that there is a higher up-front joining fee now, but you'd need to ask them that.

My main point is not the cost - but the fact that there has been nothing of note done to date. If Webberg is only starting first litigation steps NOW as per his post, then BG is 5 YEARS away from any JR ruling. 5 years from now not 5 years from when they first started paying.