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

[TroyT]

We - and I'm sure other professional firms - have developed a strategy that arrives at the "right" amount of tax rather than the "maximum".

I suggest that if you are unwilling to pay a fee for advice, you ask HMRC.

Helpful....everyone wants our money.
I didn’t realise this was a sponsored forum!!!

Does your “strategy” come with watertight guarantees???

[webberg]

Helpful....everyone wants our money.
I didn’t realise this was a sponsored forum!!!

Does your “strategy” come with watertight guarantees???

So you want me to share the analysis that my clients have allowed me to put together by paying for my time, with you, for free?

As I have said before, the answers to your questions are all in the public arena and simply require the application of your time and intellect to put together. Do that and you will arrive at the analysis of the facts and the way in which the tax law applies to them.

Or you can decide, like many others, that your time is worth more than the fee we would charge and join us.

Equally you can join another adviser.

Our strategy has been discussed in this forum many times and we have always said that we have a 65% confidence level. So, no watertight guarantee.

I suggest however that 65% is better than the chance of Glen May working as advertised. It's just that we're prepared to say what our chances are and Glen May either did not, or misrepresented their product.

[cojak]

May I remind you both that this is a Professional Forum.

@TroyT: this is not a sponsored forum, but if you want something for nothing I would find that GM forum.

@webberg: you’ve told him, he’s not interested. Put him on your ignore list, he’s not your problem.

[dog]

TroyT : u can direct message IT Mark here. He set up the What's app group which is free. There are a mixture of opinions but what everyone does share in common is having been let down by guarantees given

Having been let down in the past why should anyone be believed ?... Once bitten twice shy.

U could just use the money saved (from not paying anyone) to pay HMRC if required.

lcag is a modest 100 quid. Pressure group. Also running the lawsuit at modest cost.

Use your existing accountants to help u. U r already paying them so no harm asking.

Then there are the promoters here. I'm with u on the once bitten twice shy. why listen to any advisor now?

One of the promoters people might have fallen for was GM. GM compliance are still around giving reassurance for what it's worth.

One fee free option is pick up the phone, call the devil at HMRC.

There s also a lot on Twitter anti Mel Stride. Informative.

Stride and Hammond lied recently on tv and in the house ..theres a letter circulating to none other than Mrs May- this letter seems to have been partly drafted by none other than Webberg who has also criticised HMRC power going too far. Does that justify him a fee for a 65% guarantee ? Or just save the money to pay the devils at HMRC?

It's all down to personal choice and risk appetite. Paying more advisers fees isn't risk free.

The cautious person says messedup because misled. Will hoard because might need it to deal with what might be inevitable.

[TroyT]

May I remind you both that this is a Professional Forum.

I honestly wasn’t intending or thought I was being unprofessional. Apologies to anyone I may have offended.

I honestly thought this was a forum for individuals in the same situation as myself that were trying to share knowledge to help one another out.

@TroyT: this is not a sponsored forum, but if you want something for nothing I would find that GM forum.

I thought this was the GM forum. Struggling to find the other one mentioned.

[TroyT]

So you want me to share the analysis that my clients have allowed me to put together by paying for my time, with you, for free?.

As I said in the above post - I thought this was a knowledge sharing forum on a common problem. I didn’t realise there were people on here selling services.

Apologies if I’ve somehow misled you into thinking I was trying to engage your services for free. I was merely throwing my thoughts out there to see what the general thinking was on this issue, with the hope of getting some info or tips (yes, for free).

Apologies again, there was no malice intended.

[GreenMirror]

I honestly thought this was a forum for individuals in the same situation as myself that were trying to share knowledge to help one another out.

In general the advice is to approach wtt(via webberg) or dsw(via Phil). You can go via lcag is you prefer - you will not hear anything different.

The only way to tackle HMRC is via a legal challenge. For that you need big pockets. One group got 500 people together who each put in a grand or two. They are still fighting.

[cojak]

I honestly wasn’t intending or thought I was being unprofessional. Apologies to anyone I may have offended.

I honestly thought this was a forum for individuals in the same situation as myself that were trying to share knowledge to help one another out.




I thought this was the GM forum. Struggling to find the other one mentioned.

Thank you. Now that things are calm again I’ll let you all be.

[TroyT]

The only way to tackle HMRC is via a legal challenge. For that you need big pockets. One group got 500 people together who each put in a grand or two. They are still fighting.

Or settle (if you can) and be done with it. If they allow a structured repayment plan that’s affordable and you are still able to live.

[LAJ]

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

Hi All,

I have just joined the forum and am a member of the Procorre scheme. Has anyone signed over their limited company to Procorre. My accountant advised you can take this option to reduce your tax bill or face a big tax demand from HMRC for the loan account scheme.

thanks and grateful for your replies