Closing opened years - is this possible?

[eek]

if they aren't aware, I'm being lied to which would be a strange thing for an accountancy firm, regulated in the UK, to do. Now stop following me about.

Well given that I believe you are offering dodgy advice based on inaccurate reading of legislation - I'm sorry but I'll keep following you around and pointing out to others that I believe your suggestions / solutions are plain wrong....

[FakeHorizon]

They may well be aware of what is on offer, but they have no power to move pre-emptively to stop it.

I do not see that HMRC would close their investigations at all. Why would they do that?

I can see them opening another investigation into how the repayment worked and whether it was itself part of a tax avoidance arrangement.

Venturis are in Bulgaria? Why would they worry about UK Enablers legislation?

The major interest holder of some of the names offering the arrangement is Venturis.

https://beta.companieshouse.gov.uk/c...ficant-control

I can see any number of ways in which the enablers legislation would be inapplicable or too slow to be effective.

the tax should have been paid by the employer, wasn't that the decision of the Supreme Court, so in theory, the employee cannot be taxed as well. And I did ask Venturis why they were going to report people to HMRC when they are based in Bulgaria and probably out-of-reach. I don't think I need to supply an answer to that as it's obvious. I would like to thank you for the free advice/info/opinion you give on here, certainly more useful than the paid-for variety.

[FakeHorizon]

Well given that I believe you are offering dodgy advice based on inaccurate reading of legislation - I'm sorry but I'll keep following you around and pointing out to others that I believe your suggestions / solutions are plain wrong....

who am I offering advice to? My suggestions/solutions? You're at it pal, put the dummy back in your mouth and toddle off, people have their futures to sort out and the likes of you are not helping.

[eek]

who am I offering advice to? My suggestions/solutions? You're at it pal, put the dummy back in your mouth and toddle off, people have their futures to sort out and the likes of you are not helping.

Yes they do have their futures to sort out and if they follow what you have suggested they are going to regret it for the rest of their days...

We have on here 2 people who know more about this topic than probably anyone except for a couple of people in HMRC yet you continually argued that they know less than you do...

So don't worry I will continue to point out that you know far less than you think you do until the day you leave this forum and go elsewhere. or a mod asks me to stop (and I strongly suspect that won't occur)..

[cojak]

You are quite right eek, it won't occur.

FakeHorizon - put eek on your Ignore List. He won't follow you around then.

[regron]

FakeHorizon, seriously you need to take a chill pill. With all due respect, you are coming very late to the party and a lot of people have already gone through, what you are going through now.

Take a deep breath and realise you are mostly amongst friends. Advice is there to be taken or otherwise, either choose to ignore it, question it, or embrace it. However, please don't berate it, or the people that give it.

[eek]

the tax should have been paid by the employer, wasn't that the decision of the Supreme Court, so in theory, the employee cannot be taxed as well. And I did ask Venturis why they were going to report people to HMRC when they are based in Bulgaria and probably out-of-reach. I don't think I need to supply an answer to that as it's obvious. I would like to thank you for the free advice/info/opinion you give on here, certainly more useful than the paid-for variety.

3 things there:-

1) We've already seen that HMRC will play dirty and retrospectively change things to get their way and there have already been soundings that HMRC will try to move the debt to those who have benefited from the loan and still have the money (i.e. the employee / loan beneficary).
2) Whether Venturis report the loans or not is irrelevant. If you don't personal report the loans when HMRC ask you to do so they will add massive fines to the tax and potentially investigate you under COP9..
3) What exactly is Venturis hoping to achieve from becoming the scheme administrators. The only thing I can think of is that they are going to try and receive money from the scheme members by hook or by crook - so to begin with they may appear to be helpful longer term I suspect they are going to attempt to recover whatever loans they can get repaid..

[regron]

3 things there:-

1) We've already seen that HMRC will play dirty and retrospectively change things to get their way and there have already been soundings that HMRC will try to move the debt to those who have benefited from the loan and still have the money (i.e. the employee / loan beneficary).
2) Whether Venturis report the loans or not is irrelevant. If you don't personal report the loans when HMRC ask you to do so they will add massive fines to the tax and potentially investigate you under COP9..
3) What exactly is Venturis hoping to achieve from becoming the scheme administrators. The only thing I can think of is that they are going to try and receive money from the scheme members by hook or by crook - so to begin with they may appear to be helpful longer term I suspect they are going to attempt to recover whatever loans they can get repaid..

IMO There is only one reason providers like Venturis are trying to circumnavigate the 2019 charge and that is to line their pockets and/or move themselves away from any potential liability, that may come their way. Seriously, if anyone is trying to out all this mess behind them, don't potentially dig yourselves into an even bigger hole !!

There is tonnes and tonnes of evidence out there now, going back years, that has proved what was fully legal and compliant at the time, is easily dealt with in the future by HMRC's time machine and mafia style tactics.

[BrilloPad]

FakeHorizon, seriously you need to take a chill pill. With all due respect, you are coming very late to the party and a lot of people have already gone through, what you are going through now.

Take a deep breath and realise you are mostly amongst friends. Advice is there to be taken or otherwise, either choose to ignore it, question it, or embrace it. However, please don't berate it, or the people that give it.

Mostly. However there is some trolling around even in professional forums.

Eek is DEFINETLY one of good guys. I can think of a lot of other posters to go on ignore before Eek. Anyone who has a pop at Eek is shooting the messenger.

What FakeHorizon does not realize is that loans do not necessarily have to be declared to HMRC. Whenever you are told something, get it in writing (HMRC rarely do this - they say all sorts of things by phone only).

[ChimpMaster]

3 things there:-

1) <snip>
2) Whether Venturis report the loans or not is irrelevant. If you don't personally report the loans when HMRC ask you to do so they will add massive fines to the tax and potentially investigate you under COP9..
3) <snip>

Focusing on point 2, isn't this the crux of the issue that perhaps FH is concerned about? HMRC can only ask you to report the loans if they know of the loans. They will know of the loans once Venturis (who aren't based in the UK) provide details.

This cycle of information becomes irrelevant if the scheme user has an open year, in which case of course HMRC are already aware of the loan.