AML 2019 Loan Charge

[webberg]

Happy New Year.

Hopefully this can be a year where we all put this carry on behind us.

I am in the process of settling with HMRC and need to get the Loans written off.

Does anybody know where the Trustees of the ‘Knox House Trustees Limited - AML PCC Partners Benefit Trust’ can be contacted?

Could do worse than start here?

Home | Knox House Trust | Corporate Service Provider Isle of Man

[ScottW]

Happy New Year.

Hopefully this can be a year where we all put this carry on behind us.

I am in the process of settling with HMRC and need to get the Loans written off.

Does anybody know where the Trustees of the ‘Knox House Trustees Limited - AML PCC Partners Benefit Trust’ can be contacted?

[esemi]

Depends if you want the loan wrote off? I'm not planning on spending tens of thousands of pounds to HMRC, all to have it possibly undermined by 'forgetting' to tick one box at the end. Yes its more money, but that's the deal

I will though ask my TA if we can leave it unticked, then if i can get it wrote off down the line - i'll tell HMRC that way round, and pay up. Not sure if that's allowed, so i'd need to ask. The whole IHT debacle seems to be another area that isn't 100% clear (who'd have thought...)

My only hope, is that in 10 years time, because I've played everything by the book, and come fwd to HMRC first -without investigation etc etc, it'll be like the PPI claims in years gone by. Where i should be able to claim money back because HMRC acted badly.

I was reading again on Lewis Hamilton (seeing he was in the news) about how he claimed £3.3mill VAT back on a private jet through IOM tax schemes, even fraudulently claiming the jet was for business only, despite instagraming his family on holiday on it. I still don't see anyone going after/bullying him. Anyway, I digress... IHT is one of my up and coming hurdles, although I'm using one of the well recommended TA's on here, so hopefully they'll hold my hand.

Please do keep us updated on what your TA says. If its possible I might contact HMRC and ask for the box to be unticked for now.
This has just added £4500 to my £29000 settlement and seems like another cruel blow. Adding some IHT to the calculation is just too much.

[here4beer]

So we shouldn’t be ticking that box on the settlement form then?

Depends if you want the loan wrote off? I'm not planning on spending tens of thousands of pounds to HMRC, all to have it possibly undermined by 'forgetting' to tick one box at the end. Yes its more money, but that's the deal

I will though ask my TA if we can leave it unticked, then if i can get it wrote off down the line - i'll tell HMRC that way round, and pay up. Not sure if that's allowed, so i'd need to ask. The whole IHT debacle seems to be another area that isn't 100% clear (who'd have thought...)

My only hope, is that in 10 years time, because I've played everything by the book, and come fwd to HMRC first -without investigation etc etc, it'll be like the PPI claims in years gone by. Where i should be able to claim money back because HMRC acted badly.

I was reading again on Lewis Hamilton (seeing he was in the news) about how he claimed £3.3mill VAT back on a private jet through IOM tax schemes, even fraudulently claiming the jet was for business only, despite instagraming his family on holiday on it. I still don't see anyone going after/bullying him. Anyway, I digress... IHT is one of my up and coming hurdles, although I'm using one of the well recommended TA's on here, so hopefully they'll hold my hand.

[esemi]

I think (from what i've read) if you tick the box on the form you return to HMRC that says you're going to try and write off/release the loan, they will put on inheritance tax/IHT.

I don't understand why you'd pay it in advance, as having it released is out of your control. I guess if you cant get it released, you then show HMRC, and without any hesitation or delay they'll refund you instantly... hmm...

So we shouldn’t be ticking that box on the settlement form then?

[here4beer]

Hi all

I was wondering if anyone has seen this before.
I was with AML for 18 months, I am trying to settle with HMRC now. I have sent them my settlement details and have been sent back the final confirmation letter to sign.
On this letter out of the blue HMRC have now added on an Inheritance Tax calculation.

Has any one else seen this calculation added on? What is the deal with it?

I think (from what i've read) if you tick the box on the form you return to HMRC that says you're going to try and write off/release the loan, they will put on inheritance tax/IHT.

I don't understand why you'd pay it in advance, as having it released is out of your control. I guess if you cant get it released, you then show HMRC, and without any hesitation or delay they'll refund you instantly... hmm...

[esemi]

Inheritance Tax calculation

Hi all

I was wondering if anyone has seen this before.
I was with AML for 18 months, I am trying to settle with HMRC now. I have sent them my settlement details and have been sent back the final confirmation letter to sign.
On this letter out of the blue HMRC have now added on an Inheritance Tax calculation.

Has any one else seen this calculation added on? What is the deal with it?

[Noodles67]

Hi all in same boat was using sanzar solutions for litlke over a year... how made arrangement with hmrc to pay back now travelling the world but got email as show previously by other users and really confused. It states i owe tge loan amount? The trustees loan was used to pay us... is this right can anyone explain in layman terms. Cant get hold of my old fashioned accountant as he doesnt have email and am in Australia atm. Cheers for any help. Below is the email.

Over the last few months, you will have received letters (attached to this email) and emails from Helpline Services Ltd (Trusthelpline. com) (THL) acting in our capacity as Communication Administrators, engaged by the Trustees of the Trusts and former employers of several Brands, one of which (or more than one) were involved with you and your former employer.

These Brands are:
Sanzar Solutions, Tudor Pay, Long Acre, Eximius, Dynamic Partners, IQ, Darwin, Garraway and Winchester.

The outstanding loan(s) that you have with one or more of these fall in scope of the 2019 Loan Charge whereby HMRC will retrospectively Tax any loans established through Contractor loan arrangements if the loan(s) are still outstanding on 5th April 2019.

You have previously logged into the Portal and confirmed you are the correct person, and you have also supplied your KYC (Know Your Customer) information and we have confirmed your identity.

The Trustees require you to urgently engage with THL via their portal located at thlportaldotazurewesbites.net <mod snip-link removed>

Please go to the Portal and use “Contact Us” if you no longer have login details.

The portal website contains your Loan Statement, highlighting the amounts owed and allows you to obtain further information so you can decide which course of action that best suits you.

As you have already supplied your KYC the portal is available to you and the Trustees urgently require you to complete the “Next Steps” section so that they have an indication of your proposals going forward.

It should be noted that settling with HMRC will deal with the Tax outstanding but the loan(s) will remain outstanding and attracting interest. The Trustees urgently require you to make your proposals for settling the loan(s).

Kind regards,
Helpline Services Limited

[1887wwfc]

I'm not going to discuss client business here.

Suffice to say that a very unscientific poll we did recently (end October) showing that around 5% of those asking for settlement calculations had actually had them.

We know November has been busier, but I'd be surprised if more than 20% of requests had seen some response.

Thanks Graham for the estimation. It's just useful to know if you are still waiting that you're actually in the majority of cases. I fully realise and expect that you cannot discuss client business.

[webberg]

Well I'm still waiting and the 30th of November is almost upon us. My CLSO2 submission is with WTT (end of July) but heard nothing. Be interested to hear from Graham how many still in same boat

I'm not going to discuss client business here.

Suffice to say that a very unscientific poll we did recently (end October) showing that around 5% of those asking for settlement calculations had actually had them.

We know November has been busier, but I'd be surprised if more than 20% of requests had seen some response.