HMRC Notice of Assessment APSE Consulting Ltd

[webberg]

Essentially this is money the trust has given to me as a benificary.

Distributions from a trust are usually taxable.

HMRC may not have to bother showing a loan was involved.

[aero9574]

Has anyone had any joy getting information out of Portfolio Admin Services regarding APSE / MW?

I contacted them this morning and got a delightful note back to say don't worry it's all fine.

I did have to laugh.

[Iter]

Are they the liquidators ?

[aero9574]

I've no idea, I guess so.

I emailed two addresses I had for APSE yesterday and got a response from this lot today to say effectively "don't worry, all is fine blah blah blah".

They've not sent any information but I'll pester again tomorrow.

[Iter]

Apse were just one of the many companies of Colin quirk to manage the payroll I think, I think HMRC suspended their closure as they had a liability of over 8 million in unpaid tax. I’m sure all the comms just comes from the same small group of promotors/ introducers who sold the scheme.

[Iliketax]

, I think HMRC suspended their closure as they had a liability of over 8 million in unpaid tax

More like £33m - APSE CONSULTING LTD - Filing history (free information from Companies House)

[Iter]

Apparently promoters have sent this out, a solution to a solution! It mentions about the client paying of the loan with the funds of a ‘true loan’ to eliminate potential loan charge but doesn’t that just leave another loan debt! And any o/s enquires are still valid..... Dear Client,

Further to the correspondence from the Legal Team and Portfolio Admin Services (the administrators of the Trust) on 15th March 2019 (attached), we have been asked to share another update with you.

Good afternoon,
Following recent queries raised by some clients, we are delighted to announce that our advisors have entered into a joint venture, with a third-party Financier, to provide a further optional layer of protection against the 2019 Loan Charge.
Should you want to repay any outstanding loans taken prior to 5th April 2019 then this arrangement allows for your loans to be repaid in full. The arrangement is not like various “solutions” which have been proposed in the market place, typically around a 4% fee, but merely attracts a modest fee of 0.5% of the outstanding loan value that will be payable to the third-party financier.
If you choose to proceed, this arrangement is administered as a straight-up loan to the “the relevant person”, which does not come from any Trust funds. This satisfies the Finance Act (No2) 2017.
If you would like to consider taking this option please confirm via return email and more details will be provided.
Kindest regards
The team at Portfolio Admin Services


Of course, having received this, we have questioned at length the rationale – our primary two questions being

Q: We have always been advised that the Loan Charge does not apply to the Remuneration Trust?
A: That is correct, the advisors continue to advise that the Loan Charge does not apply to the RT, however some clients continue to voice their concerns and still wish to have the option to repay their loan(s); hence this additional arrangement can facilitate the repayment of loan(s) if the client chooses to proceed.

Q: Can we and our clients still use the Trust?
A: Yes, most definitely, the Loan Charge solution is an option that merely adds a further layer of protection against the ‘2019 Loan Charge’.


Nobody has been issued with a tax bill, or taken to court. If they had, you would know about it.

To confirm:

The RT Planning has been in place for over 30 years
None of the contributing entities have been taken to court
None of the contributing entities have been issued with a tax bill
None of the contributing entities have been issued with an APN
None of the beneficiaries have been taken to court
None of the beneficiaries have been issued with a tax bill
None of the beneficiaries have been issued with an APN



Despite this, HMRC have continued their attempts to convince clients that their benefits fall within the 2019 loan charge and they should either declare them, or settle directly with them.

To reiterate – Our view and the view of the advisors to Portfolio Administration Services (the administrators to the Trust) is that any loans you may have taken do not fall within the Loan Charge legislation, however it is likely that HMRC will still continue to argue that they do.

The advisors will continue to vehemently defend their stance against HMRC, however should clients wish to repay their loans in full via this option, we will of course make a formal introduction to Portfolio Administration Services so that you can investigate this option fully .

[stonehenge]

Following recent queries raised by some clients, we are delighted to announce that our advisors have entered into a joint venture, with a third-party Financier, to provide a further optional layer of protection against the 2019 Loan Charge. Should you want to repay any outstanding loans taken prior to 5th April 2019 then this arrangement allows for your loans to be repaid in full. The arrangement is not like various “solutions” which have been proposed in the market place, typically around a 4% fee, but merely attracts a modest fee of 0.5% of the outstanding loan value that will be payable to the third-party financier.

This has got to be a sham, surely? What commercial financier would offer a loan (presumably unsecured, interest free) for a 0.5% fee? Unless actual money changes hands, I can't see HMRC accepting it as a valid repayment.

[BrilloPad]

This has got to be a sham, surely? What commercial financier would offer a loan (presumably unsecured, interest free) for a 0.5% fee? Unless actual money changes hands, I can't see HMRC accepting it as a valid repayment.

Its definitely a sham. But some still fall for it....

[RickG]

Fool me once, shame on you.

Fool me twice ...........