EBT Repayment question

[webberg]

Apparently Big Group is closed. I did phone them and they didn't return my call.

I have to say that unless you have called in the last few hours, we have no outstanding calls to return.

You are correct that Big Group is presently closed and will reopen in April.

[eventide]

I called a week or so ago. I'll try again. What is the best number?

[BrownOwl]

During the period 2003-2010 I was paid via an EBT loan. From the look of the HMRC website apparently I'm going to have the whole amount paid through the trust treated as income and thus pay tax on it and that's happening in 2019 where they will treat the principal sum loaned as income and tax accordingly.

I'm interested to know what the best approach is to this. Should I just contact HMRC directly and negotiate. Would I be better off getting specialist advice first before doing this? And if so, from whom?

Another question that springs to mind is that HMRC clearly state that I have the option to repay the loan. I do have the ability to do that as the company in question is still active but I'm wondering what then happens to the monies. Are there any recommendations as whether it's worth repaying the loan and if yes, what then happens to the money.

I'd certainly advise getting professional advice before contacting HMRC, their tactics have been questionable. Be very careful what you post on a public forum too.

There have been stories they use behavioural psychologists so beware of any people posting on forums, it could be HMRC trying to break you down with negativity and coaxing you into voluntary payments!

[eventide]

I'd certainly advise getting professional advice before contacting HMRC, their tactics have been questionable. Be very careful what you post on a public forum too.

There have been stories they use behavioural psychologists so beware of any people posting on forums, it could be HMRC trying to break you down with negativity and coaxing you into voluntary payments!

Message received. Thanks.

[webberg]

Message received. Thanks.

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