AML 2019 Loan Charge

[FOHMRC]

Taking Knox House group to court?

New to the thread and 1st time user of contractor uk. I was a "AML/SPM user" from 2012-2017, before going down my own Ltd company in late 2017. I think I will be facing a ~£150k tax bill potentially at some point. Having read all the articles, I am clearly not the only one caught up in this sorry saga. I tried to leave AML back in 2016 when I received my 1st demand for tax outstanding, but they "persuaded" me that it was all "legit/QC Approved"...how wrong could I have been!! I joined WTT last year and the information they have provided has been incredibly useful and I highly recommend them. I'm writing this post as surely one of the options to us ex, as well as current AML'rs, is to take the Knox House group to court for this mis-selling/abuse of trust/complete scam of a scheme or something along those lines, it happens in multiple industries where such blatant fraud is committed, so I am wondering if anyone out there is thinking of this route and if this is indeed feasible or not..... As for HMRC, well I would literally run out of expletives for how much contempt I hold this department..

Wishing everyone good luck with this fiasco!..and some comedy (LIBEL!!) literature below from AML in 2012 which I dug up from my email archives..

Original email from AML in 2012: "It was a pleasure to talk to you today. Further to our conversation, please find below and attached the information about the AML PCC solution.

Having negotiated your percentage return, I can confirm that we would be able to offer you 85% net return if the application is returned this week; We can also offer the £500 welcome bonus to you after you have been paid for £13,000.00 worth of invoices. Please keep this negotiation confidential as it might jeopardise the arrangement if it was disclosed.

AML provide a unique solution for individuals wanting the flexibility of being self employed, without incurring employers and employees NI through an umbrella company, incurring Director responsibilities or having the cost and hassle of setting up and running your own Limited company.

ABOUT AML

AML has a wealth of experience in providing efficient remuneration strategies for professionals, consultants, freelancers and contract workers which maximises their take home pay in a safe and compliant manner. Our services are supported by leading counsel opinions and provide a complete administration solution saving you time and money. All our 50 employees are dedicated to providing excellent levels of service, with payments processed on time, every time. We employ our own inhouse tax experts and work closely with leading Tax Counsel and Employment lawyers to ensure our contracts and remuneration planning is always fully compliant with current UK legislation.

HOW IT WORKS

AML maximises your income and can be more tax advantageous as well as more convenient than an umbrella company, PAYE or your own limited company. Once you join AML as a member, we will work with your agency or client to arrange the contract for your services. We raise all invoices on either a weekly or monthly basis and we take full responsibility for debt collection. Once we receive the money from your agency or client, we immediately process and arrange for payment to be transferred to your bank account usually on the same day.

KEY BENEFITS

Our service ensures you take home more pay, whilst also saving time and money.

* Take home over 80% of contract value
* We handle all your paperwork from contract negotiation through to payment process and debtor collection
* Regular Payment Cycles
* Fast and easy sign up process (can be done same day)
* Tax return service completed at the year end for you

ADDITIONAL BENEFITS

* AML provide business insurances including Professional Indemnity of up to £5million
* There are no joining or leaving charges, with total flexibility on contract periods
* Access provided to our online contractor portal, providing you real time information to track your invoices and payments.
* Supported by leading Tax and Employment Counsel Opinion confirming that the service is fully compliant with current UK legislation

[bhand5]

Don't include direct loans into settlement???

I also received the same advisory from another loan provider (not AML) - they are adamant that from 2016 onwards they were paying the loan directly through themselves as opposed to an EBT. Therefore tax years from 2016 onwards won't be penalised and anything prior to 2016 will be taxed under the 2019 loan charge legislation.

I'm not sure how true this is (it maybe bulls**t) however the fact that both Smartpay and PTS have confirmed this in writing to me, I'll be keeping it as evidence it in court should it ever back fire!

So is anyone else NOT including direct loans as part of their settlement since the loan charge says it's only third party loans affected at present?

What might happen later on if HMRC deem this type of loans to be caught by the LC? I presume the point would need to be argued that the wording states third party to avoid any penalty??

Im inclined to leave these out of the mix for the time being and face the potential charge at a later date but concerned that the penalty might come into play..

[Dmac]

Newbie looking to settle

I am new to this forum, been ripped by AML / Knox / etc.. and am looking to settle - I have engaged professional tax advice.

Interesting that the HMRC website this morning has removed the requirement to register your interest in settling by 31 May at the latest - it now says

"To start settling your tax affairs, you should register your interest with HMRC as soon as possible and provide all of the required information by 30 September 2018."

I guess why would they discourage people from settling given the alternative means a lot of extra work for HMRC.

[THISISWRONG]

I also received the same advisory from another loan provider (not AML) - they are adamant that from 2016 onwards they were paying the loan directly through themselves as opposed to an EBT. Therefore tax years from 2016 onwards won't be penalised and anything prior to 2016 will be taxed under the 2019 loan charge legislation.

I'm not sure how true this is (it maybe bulls**t) however the fact that both Smartpay and PTS have confirmed this in writing to me, I'll be keeping it as evidence it in court should it ever back fire!

I’ve heard similar, but I think it was because they moved the operation to Malta. I’d be pretty certain it will be backed by a council opinion but HMRC are likely to challenge it.

[Volks]

I also received the same advisory from another loan provider (not AML) - they are adamant that from 2016 onwards they were paying the loan directly through themselves as opposed to an EBT. Therefore tax years from 2016 onwards won't be penalised and anything prior to 2016 will be taxed under the 2019 loan charge legislation.

I'm not sure how true this is (it maybe bulls**t) however the fact that both Smartpay and PTS have confirmed this in writing to me, I'll be keeping it as evidence it in court should it ever back fire!

I worked through IQ contracts for around 18 months but have had no contact from anyone, a few of my friends that have used IQ for longer than me have had emails from the helpline trust telling them to register by today.

I’m worried now that I had nothing and haven’t registered.

[Leshard37]

aid via 1st party loan but not by Trust...

I also received the same advisory from another loan provider (not AML) - they are adamant that from 2016 onwards they were paying the loan directly through themselves as opposed to an EBT. Therefore tax years from 2016 onwards won't be penalised and anything prior to 2016 will be taxed under the 2019 loan charge legislation.

I'm not sure how true this is (it maybe bulls**t) however the fact that both Smartpay and PTS have confirmed this in writing to me, I'll be keeping it as evidence it in court should it ever back fire!

[esemi]

We've made the news again...
https://www.telegraph.co.uk/tax/news...emes-set-miss/

[GUD]

Loan Charge Action Group - Impact Statements send now!

Please send your impact statements to LCAG at "SUE.LCAG@YAHOO.COM" so that they can raise it with various stakeholders. Every single submission counts for them! So, please put together your thoughts and send them by email. The statement could be of any size ranging from one paragraph to 10 pages. Try to convey how long you used the arrangement and reason for using the same. Then how this loan charge has and will impact your financial condition, family, health, mental wellbeing, career and future. How your life has changed from before loan charge/ APN to now. Its our opportunity to make our voice heard -make it count!!

[Newbee0418]

Then I would get independent advice to confirm this because I don’t think it’s correct.

Will do - thank you cojak.

[cojak]

This was advised by the loan provider for the loan I had.

Then I would get independent advice to confirm this because I don’t think it’s correct.