Overdrawn Capital Account Scheme (Aston Mae / Glen Mae / Procorre)

[Call Symputx]

Talking to Procorre tomorrow

Been reading this thread and others mentioned as the only real source of information outside their own recommendations. And due to this material I am entering the mouth of the dragon very much more aware than where I was this morning when I accepted the invitation to talk on conference call. The call originated in Dublin

I got the impression that it would be a partnership rather than a service, but will get back to you tomorrow about my experience. If anyone has any advice..?

Thank you for your information and impressions so far. - Magic!

[ITmark]

Been reading this thread and others mentioned as the only real source of information outside their own recommendations. And due to this material I am entering the mouth of the dragon very much more aware than where I was this morning when I accepted the invitation to talk on conference call. The call originated in Dublin

I got the impression that it would be a partnership rather than a service, but will get back to you tomorrow about my experience. If anyone has any advice..?

Thank you for your information and impressions so far. - Magic!

Yes the solutions out there are based on a LLP (Limited Liability Partnership) based offshore. If l were you (and l say this with bills from HMRC currently suspended and causing me grief) just join SJD or any other accountancy firm...The extra 9% or so that you save by joining a LLP is not worth the long-term grief when HMRC come knocking 4 years down the line saying you're avoiding tax...That's just my view anyway (i'm not an advisor just a simple contractor).

[MrMarkyMark]

Been reading this thread and others mentioned as the only real source of information outside their own recommendations. And due to this material I am entering the mouth of the dragon very much more aware than where I was this morning when I accepted the invitation to talk on conference call. The call originated in Dublin

I got the impression that it would be a partnership rather than a service, but will get back to you tomorrow about my experience. If anyone has any advice..?

Thank you for your information and impressions so far. - Magic!

Yep.

Don't even talk to them.

If it smells like tulip, then its likely to be tulip

[northernladyuk]

Been reading this thread and others mentioned as the only real source of information outside their own recommendations. And due to this material I am entering the mouth of the dragon very much more aware than where I was this morning when I accepted the invitation to talk on conference call. The call originated in Dublin

I got the impression that it would be a partnership rather than a service, but will get back to you tomorrow about my experience. If anyone has any advice..?

Thank you for your information and impressions so far. - Magic!

Did you speak to them. It would be good to understand more about Procorre Consulting Ireland.

[NetworkMan]

Glen Mae

Had a similar letter. Can I PM you ITmark / jacob977 ? or can you PM me? Don't seem to have rights
Would be good to stay in touch to see how this pans out.

Ta

[ITmark]

Had a similar letter. Can I PM you ITmark / jacob977 ? or can you PM me? Don't seem to have rights
Would be good to stay in touch to see how this pans out.

Ta

You just need to request PM rights on here and one of the admins will give access, then just ping me.

[administrator]

Had a similar letter. Can I PM you ITmark / jacob977 ? or can you PM me? Don't seem to have rights
Would be good to stay in touch to see how this pans out.

Ta

Just checked and you do have PM access so all go to message.

[Smurfburger]

Glen May under HMRC Spotlight

Anyone used Aston Mae / Glen Mae or Procorre and received Notice of Assessments for scheme that was based on overdrawn capital account? I've received 2011/12 and 2012/13 both i've appealed and HMRC have agreed to appeal and postponed. Just wondering (whilst Big Group closed) how many others out there that have used them. Aston Mae and Glen Mae now gone (but operate under Procorre now - same staff). I'd be keen to keep in touch with anyone that has used them in the past and got assessments...

[Edit] To continue from above...I'd be keen to keep in touch with anyone for moral support / if any of us get used as a test case etc...

I joined Glen May in 2012/13 and now HMRC are doing a check of my self assessment for each tax year since then. I know of another partner who has been issued with a notice of assessment for 2012/13. I haven't had notices of assessment and so I am not sure why HMRC are treating individuals in a inconsistent way. I suspect it is their usual scatter-gun approach to target the lowest hanging fruit.

They have apparently contacted many Glen May partners. Instead, why don't they liaise directly with Glen May? Surely that would be much cheaper and more efficient than sending out many letters to individuals asking similar questions and then having to go through all the responses.

I am awaiting a response from the Glen May compliance team and will post back here when I have had it.

I have recently moved to work for an umbrella company in the hope that I can be assured of compliancy.

[ITmark]

I joined Glen May in 2012/13 and now HMRC are doing a check of my self assessment for each tax year since then. I know of another partner who has been issued with a notice of assessment for 2012/13. I haven't had notices of assessment and so I am not sure why HMRC are treating individuals in a inconsistent way. I suspect it is their usual scatter-gun approach to target the lowest hanging fruit.

They have apparently contacted many Glen May partners. Instead, why don't they liaise directly with Glen May? Surely that would be much cheaper and more efficient than sending out many letters to individuals asking similar questions and then having to go through all the responses.

I am awaiting a response from the Glen May compliance team and will post back here when I have had it.

I have recently moved to work for an umbrella company in the hope that I can be assured of compliancy.

Don't worry, you're not alone. I have a whatsapp group of 5 of us ex-Glen May'ers and i've also joined WTT Big Group (very useful - formed of contractors - l have no affiliation other than being a member). I was with GM starting 2012, leaving 2014, then transitioned to Procorre after that.

So far i've recieved Notices of Assessment for 2012/13 and 13/14 and discoveries for every other year up to 15/16 received last month. Both notices have been appealed and postponed successfully.

PM me.

[ITmark]

Don't worry, you're not alone. I have a whatsapp group of 5 of us ex-Glen May'ers and i've also joined WTT Big Group (very useful - formed of contractors - l have no affiliation other than being a member). I was with GM starting 2012, leaving 2014, then transitioned to Procorre after that.

So far i've recieved Notices of Assessment for 2012/13 and 13/14 and discoveries for every other year up to 15/16 received last month. Both notices have been appealed and postponed successfully.

PM me.

Ah tulip, also 11/12 tax year so 3 NOA's...I'll have a another double G&T...