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

[interestedparty]

Yes, it certainly was, and that was the rationale behind their assessment. So, my confusion is centred on the fact that (i) They issued the assessment on this basis, and (ii) Once I appealed, they appear to have stopped any activity, i.e. they are not processing the assessment by taking it to a tribunal, but neither are they closing the inquiry, or formally removing the assessment. Why are they just leaving me suspended, other than because they don't have the resource to progress anything?

Wasn't 2012/13 subject to the loan charge. That is probably reason enough for HMRC to have not rushed to process it.[/QUOTE]

[nifty59]

PM rights granted

I am being chased by HMRC for work I did through Glen may over 6 years ago. Any advice on what to do now?

[interestedparty]

I am being chased by HMRC for work I did through Glen may over 6 years ago. Any advice on what to do now?

Is this the first time they've contacted you? Have you tried contacting Procorre - they do reply (sometimes)?

[interestedparty]

Regarding Aston Mae/Procorre, has anyone:

1. Had an inquiry opened
2. Received advice from Aston Mae/Procorre on communications with HMRC
3. Received an assessment from HMRC
4. Appealed against an assessment
5. Had an assessment enforced
6. Accepted that Aston Mae/Procorre falls within loan charge and voluntarily settled with HMRC
7. Never been contacted by HMRC regarding their time at Aston Mae/Procorre

It would be interesting to know the various situations, and outcomes for individual contractors?

[interestedparty]

Any updates from anyone regarding Aston Mae/Procorre, has anyone received recent communications from HMRC - what's the current status, has anyone settled?

[GregRickshaw]

I don't know of this scheme particularly, I'm guessing usual thing loans/LLP/EBT?

What years did you use the scheme?

If you have not yet had an enquiry open then there is a time factor involved.

It's more than possible HMRC failed to open an enquiry in time in your case?

There is a very good timescale posted on another thread (cut and pasted below)

12 months from date of return for a full enquiry
4 years from end of tax year for discovery
6 years from end of tax year if careless
20 years from end of tax year if dishonest

Rules here:
https://www.pinsentmasons.com/out-la...ry-assessments
What is the Time Limit for a HMRC Investigations? | HMRC Investigations (patrickcannon.net)

[interestedparty]

The scheme was run using overdrawn capital account payments - as far as I'm aware they were never called 'loans'. I used the scheme between 2013 and 2016. I've had inquiries (compliance checks) opened for years 2013, 2014, and 2015, and had an assessment for 2013 that was appealed in 2017, and apart from the occasional letter (the last one well over a year ago) nothing has happened since. It's the lack of communication that is causing all the stress, it could be a COVID related back-log, or they may have forgotten about me (wishful thinking), or doing not feel confident enough to progress to the tribunal stage (wishful thinking again)? Would it be worth submitting a SAR, in which case what would I request and what would be the benefits of this? I think I'm in the same boat as many contractors - we've been left dangling without a resolution, we haven't requested a settlement as we've argued that we don't fall into the scope of the loan charge so nothing is due from us, but we're just hoping it will go away?

[cojak]

The scheme was run using overdrawn capital account payments - as far as I'm aware they were never called 'loans'. I used the scheme between 2013 and 2016. I've had inquiries (compliance checks) opened for years 2013, 2014, and 2015, and had an assessment for 2013 that was appealed in 2017, and apart from the occasional letter (the last one well over a year ago) nothing has happened since. It's the lack of communication that is causing all the stress, it could be a COVID related back-log, or they may have forgotten about me (wishful thinking), or doing not feel confident enough to progress to the tribunal stage (wishful thinking again)? Would it be worth submitting a SAR, in which case what would I request and what would be the benefits of this? I think I'm in the same boat as many contractors - we've been left dangling without a resolution, we haven't requested a settlement as we've argued that we don't fall into the scope of the loan charge so nothing is due from us, but we're just hoping it will go away?

It won’t go away. Get professional help from a legitimate tax advisor.

[GregRickshaw]

The scheme was run using overdrawn capital account payments - as far as I'm aware they were never called 'loans'. I used the scheme between 2013 and 2016. I've had inquiries (compliance checks) opened for years 2013, 2014, and 2015, and had an assessment for 2013 that was appealed in 2017, and apart from the occasional letter (the last one well over a year ago) nothing has happened since. It's the lack of communication that is causing all the stress, it could be a COVID related back-log, or they may have forgotten about me (wishful thinking), or doing not feel confident enough to progress to the tribunal stage (wishful thinking again)? Would it be worth submitting a SAR, in which case what would I request and what would be the benefits of this? I think I'm in the same boat as many contractors - we've been left dangling without a resolution, we haven't requested a settlement as we've argued that we don't fall into the scope of the loan charge so nothing is due from us, but we're just hoping it will go away?

'They' forget a lot of trivial things, such as have we sent a letter yet, how to answer the phone.

Unfortunately they will never forget this stuff once the case is OPEN.

It seems your cases are Open, so the time disbarring is irrelevant (they make those rules up half the time anyway) then you need to get help and try to get a settlement/tribunal appeal going and you are probably going to need some serious help here.

And yes it's the waiting and the not knowing... which is why I would be pro-active.

[DealorNoDeal]

I think I'm in the same boat as many contractors - we've been left dangling without a resolution, we haven't requested a settlement as we've argued that we don't fall into the scope of the loan charge so nothing is due from us, but we're just hoping it will go away?

The Actinium scheme, mentioned recently on this forum, goes back a decade earlier (2004-6). HMRC opened enquiries and then did nothing. I suspect their users hoped it had gone away but HMRC now appear to have woken from their 15-year slumber and are doing something.

Unfortunately, time is on HMRC's side. Once they open an enquiry, or raise an assessment, they can take as long as they like. And it doesn't disadvantage them financially because each year that goes by they get to collect more late payment interest.

It's very unsatisfactory but that's HMRC for you.