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

[Thoughtful]

I’m not sure what I can say about the current status of the court cases which may weaken their position so I’ll say nothing, but trust me when I say they are fighting the good fight.
approaching this from a human angle 10 people are no longer with us as a direct result of HMRC’s application of this cursed Loan Charge and that’s 10 people too many. As a single entity the thought of fighting this as a large collective gives me enormous comfort and reassurance that we have the necessary resources to at least get a more favorable outcome.
you have two choices - pay HMRC what they ask, or fight it and if you lose pay HMRC what they ask.
I cant afford the former from a purely financial basis, so my choices are limited, so how do I fight them? In a big gang or on my own? No brainer for me.we don’t have to win the war…I’ll take a draw at this point. Would I pay 20% tomorrow to be done with it? Absolutely. Is that a possibility? Maybe? ??♂️

[Fred Bloggs]

I am never sure what WTT and the Big Group and the Loan Action Group et al. are actually doing about the schemes.

Have any of them actually defeated HMRC

I'm not saying they are a bad thing for PoM and being part of a community etc., but ultimately you want it over.

At the moment I'm minded to be of the opinion it's possibly money down the pan and HMRC will have be paid. As said elsewhere, there's not been a single loan scheme as far as I know that works as promoted.

[DealorNoDeal]

At the moment I'm minded to be of the opinion it's possibly money down the pan and HMRC will have be paid.

Yep, buying lottery tickets might be a better bet.

[GregRickshaw]

At the moment I'm minded to be of the opinion it's possibly money down the pan and HMRC will have be paid. As said elsewhere, there's not been a single loan scheme as far as I know that works as promoted.

Sadly I agree while the hope and optimism exists in being part of a group it just delays the inevitable really and I guess ultimately makes it worse.

[GregRickshaw]

Yep, buying lottery tickets might be a better bet.

Someone in another post said HMRC had actually said this on the phone to them... not sure how true it was.

[Fred Bloggs]

Yep, buying lottery tickets might be a better bet.

That's stated a bit blunter than I tried to be, but yes.

The tax avoidance schemes that don't avoid tax just keep on making plenty of people money. Just not the ones who used the schemes.

Even worse, I wonder what incentive do the subscription groups actually have to finalise the cases and lose the monthly income?

[DealorNoDeal]

Even worse, I wonder what incentive do the subscription groups actually have to finalise the cases and lose the monthly income?

None, I would have thought. Big Group started in Apr 2016. That's 7 years next month.

https://forums.contractoruk.com/hmrc...big-group.html

One thing I can absolutely guarantee... HMRC will throw everything they've got at loan schemes to ensure people do not get away without paying the full amount of tax.

[Fred Bloggs]

None, I would have thought. Big Group started in Apr 2016. That's 7 years next month.

https://forums.contractoruk.com/hmrc...big-group.html

One thing I can absolutely guarantee... HMRC will throw everything they've got at loan schemes to ensure people do not get away without paying the full amount of tax.

And that was the flaw in the subscription model right from the start, "give us a blank cheque and perhaps sometime in the next decade or so, you might not have to pay HMRC. But no promises on that".

And I think the government of the day is absolutely correct to follow up on contrived tax avoidance schemes with determination. For certain there's issues about how it's being done. But in essence they're absolutely right to do so.

[TonyPinnegar]

Hi, I've been lurking this thread a few times before but got registered here only now.

I wonder how active is this thread or is there any other relevant one?

Are there still people seeking to get out of Procorre / sort out this mess with HMRC?
I got myself into mess because of Procorre too.
Hopefully I'm reaching the end of it soon after years of uncertainty, doom and gloom.

Before I agree to the final settlement figures, which are insanely huge, I'd be keen to exchange experiences with anyone who has gone through it / is going through it, or anyone who could provide some insight. I wonder if what HMRC has come up with on my case could be challenged/pushed in some more favourable direction.

Is the WhatsApp group mentioned earlier in the thread still active? Who could I reach out to join, please?

Also, I can recommend tax advisors who are handling the case with HMRC on my behalf, but I cannot say I'm exceptionally happy with the outcome. Neither they are cheap nor the final deal seems fair to me. I only mention it in case someone wants to get it definitely sorted out, this may be a way.
These advisors already have experience based on handling my case and a few other folks damaged by this scheme so the path is established. They also have a contact with inspector(s) familiar to the scheme in HMRC. Thus another case of this type should go much smoother (which doesn't mean with a less painful outcome) than it went for me. It took nearly three years, grossed by the pandemic though, and some other delays caused by HMRC adjusting their position due to the changes in legislation in the meantime.
Of course, HMRC kept charging interests this whole time even though they themselves hadn't up to recently confirmed how much I am due. Actually, that's the part I find the most aggravating and unfair.
Anyway, please don't take this message as a tax advisor services spam. I am merely someone who got his bum kicked by this whole thing, not an agent or tax advisor myself. Just ignore this bit or let me know if this is inappropriate to bring here up, I'll edit and remove this paragraph.

Last but not least, if there was a few dozens of us, class action could be raised with a chance of winning back some compensation. It isn't viable option though to purse as an individual due to the legal costs. It only makes sense if cost is shared. I will swallow it otherwise, pay what's due in the settlement, then try to look forward after the depression it gives me hopefully eventually ceases. Although, I thought, no harm asking.

Well, Happy New Year everyone, I suppose...

Hello, I would love to talk to you about Procorre as i am currently in a similar position

[TonyPinnegar]

Hi there i am really interested in setting up a Whatsapp group for people currently dealing with an HMRC determination because of their dealings with Procorre. I am currently sitting on a massive determination and would appreciate sharing stories and strategies. Are we allowed to share our phone number here? I am quite new to all of this.