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

[LAJ]

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

Hello

Reading all the threads I think I will need to leave Procorre ASAP. Also I would be grateful if I could join the ITMark group please

Many thanks

[dog]

Hello

Reading all the threads I think I will need to leave Procorre ASAP. Also I would be grateful if I could join the ITMark group please

Many thanks

You need to DM ITMark from this forum. I'm not sure how often he logs into this site.

The WhatsApp group is quiet at present as people are waiting to hear from hmrc having requested and or completed the settlement support pack. There was a deadline for that but since HMRC have publicly stated their objective is revenue maximization rather than accuracy, they have no incentive to agree anything.

Phil Manley has written about extortion by HMRC which is exactly what HMRC are doing here.

[Charger]

You need to DM ITMark from this forum. I'm not sure how often he logs into this site.

The WhatsApp group is quiet at present as people are waiting to hear from hmrc having requested and or completed the settlement support pack. There was a deadline for that but since HMRC have publicly stated their objective is revenue maximization rather than accuracy, they have no incentive to agree anything.

Phil Manley has written about extortion by HMRC which is exactly what HMRC are doing here.

I've heard back from HRMC - was originally in EBT so asked for settlement, thought I had supplied everything until I got an email saying that the LLP was being considered as a loan scheme also - they want full details before they will give me settlement figure for EBTs. I also have a letter from earlier in the year where Glen May asked me to declare a sum on my self assessment for 17/18.
It the whats app group still going ?

Admin can I get PM rights please

[dog]

I've heard back from HRMC - was originally in EBT so asked for settlement, thought I had supplied everything until I got an email saying that the LLP was being considered as a loan scheme also - they want full details before they will give me settlement figure for EBTs. I also have a letter from earlier in the year where Glen May asked me to declare a sum on my self assessment for 17/18.
It the whats app group still going ?

Admin can I get PM rights please

Whats app group still going but quiet as everyone has made some kind of decision.

There is more going on twitter now than the whatsappgroup.

Oh and while all this is going on Procorre are blissfully ignoring everything - instead they have a campaign to attract 100 new contractors (women only, so sexist).

The number of social media messages that Procorre keep pumping out on this subject has all become a bit obsessive really from Anne O'Donnell - Procorre's CEO - "Procorre Promoting Women in Consulting".

It's as "diverse" as only having one sex... !!

[Fred Bloggs]

Whats app group still going but quiet as everyone has made some kind of decision.

There is more going on twitter now than the whatsappgroup.

Oh and while all this is going on Procorre are blissfully ignoring everything - instead they have a campaign to attract 100 new contractors (women only, so sexist).

The number of social media messages that Procorre keep pumping out on this subject has all become a bit obsessive really from Anne O'Donnell - Procorre's CEO - "Procorre Promoting Women in Consulting".

It's as "diverse" as having only one sex... !!

I never cease to be astonished how these people can portray a blue chip, glossy, seemingly premier league company facade on a website full of words but actually meaning nothing. I have been an interested bystander watching these people for some years now. I can't help feeling there's some pretty intelligent, switched on people behind this rather opaque facade. I wonder what they might acheive in a rather more transparent and open business? It's easy for me to understand why otherwise pretty ordinary people looking to get ahead get taken in by this outfit. Afterall they're - "a next generation management consultancy. We provide a first-class service through our innovative, expert consultants who deliver client projects to the highest standards. We are built from the same entrepreneurial foundations as those that we represent and as a result of this, we always hand-pick the very best professionals to suit our clients’ needs."

[dog]

Put it this way - professional services firm PWC have 170 times more followers on social media [twitter] than those PWC are following (103,000 vs 600).

With Procorre - it is the other way around, procorre are following considerably more than those following them.

[c44le]

Procorre problems

I'm another one that got into Procorre by mistake without checking the reviews first. It's been a terrible situation. They basically don't pay!

I don't know what I should do anymore. I'm freelancing and using them as my umbrella.
Is there still a whatsapp group?

[bazinga]

Hi,

I've copied this entire thread into a word doc and am slowly making my way through the 100+ pages so I don't end up asking anything silly or repeating a question that was already answered. In the meantime however, I'm going to be slightly ignorant and ask my questions as I have received a letter from HMRC saying that they are investigating as I was part of a tax avoidance scheme, but no action is due (yet).

Context
I was introduced to Aston Mae who set me up with Procorre. I was always assured that their scheme was not a tax avoidance scheme, and that they would take care of any HMRC taxes as the structure was a partnership. I stuck with them for a year, then made a clean break at the end of the 1st year of company trading as I was not happy with the way things were running at Procorre and my doubts got the better of me. I changed accountants, and broke my partnership with Procorre (by stopping payments and writing to them to terminate the partnership agreement), but kept the ltd company running. In case if it matters, I was a member during almost all of 2016 (not putting the exact months to avoid being identified).

Questions:
1. I was thinking that I should write an email to all those involved (i.e. Aston Mae, Procorre, the Accountants) and ask them what their position is and how they intend to rectify this issue. Is this a good idea?

2. Is there any development in this thread that I should be aware of?

3. I have been sent a profit share breakdown from Procorre that I would need to declare on my self assessment. They stated that I should declare it for the current tax year (i.e. when I received the letter) rather than backdate it for the year I was part of the partnership (which extended over two personal tax years). Should I go ahead and pay this as personal tax is separate to company tax? Or should I fight it out with Procorre first (as part of point 1)?

4. If HMRC decide that I need to pay up, would I just have to pay up the CT that would have been due via the traditional (minus the CT that had already been paid) plus a penalty?

5. As Procorre took about 18% of each partnership contribution as their fees, would there be any way to limit the liability to HMRC to prevent being too much out of pocket?

6. Is there anything that can be done in this stage (HMRC investigation, but no action due) to help?

7. If Procorre start acting funny, is there any way to bring a legal challenge to Procorre considering they are registered offshore?

8. Is it worth joining the whatsapp group if I am only waking up to all of this? If so, could you please send me the whatsapp group invite link via PM?

Thanks in advance.

So it's that time of the year where we have to submit our Self Assessment. In relation to point 3, shall I go ahead and declare Partnership income on the Self Assessment?

I haven't had any further letters from HMRC - however, that doesn't mean that I'm in the clear.

[webberg]

Go and get some proper advice.

This is a complex situation and not one to rely upon a bunch of anonymous forum posters who you don't know.

[bazinga]

Go and get some proper advice.

This is a complex situation and not one to rely upon a bunch of anonymous forum posters who you don't know.

Who can I go to for advice on this? A Tax consultant?