AML 2019 Loan Charge

[Loan Ranger]

How can you be self employed without a limited company in place? I don't get this!

Actually, it's the other way round. How can you be self-employed if you have a ltd co (incorporated).

Self-employed means being a sole trader (unincorporated).

https://www.gov.uk/set-up-sole-trader

That's why the AML setup (ltd co + self-employed) is a bit dubious.

[GUD]

having just spoken with PTS and asked them who exactly is responsible for NIC payments on these loans.

They say that it lands on myself as i was self employed but i had no limited co setup and the few historical payslips that i have access to cleary say employee so somewhat confused by this.

Anybody else in the same position?

How can you be self employed without a limited company in place? I don't get this!

[CockneyRed]

having just spoken with PTS and asked them who exactly is responsible for NIC payments on these loans.

They say that it lands on myself as i was self employed but i had no limited co setup and the few historical payslips that i have access to cleary say employee so somewhat confused by this.

Anybody else in the same position?

We were all paying NIC 2 for self employed workers weren't we? Plus NIC 4 in self assessment return - Doesn't that cover it?

[mayfire]

Has anybody successfully had their AML loan written off?
And am I correct in thinking that if we settle, interest cannot be charged on loans on the 2013/14 year and before?


(Just a big thank you to everybody who is giving advice and support on this forum, I have spent days reading through everything and it has been a great wealth of knowledge in the information blackout currently happening)

[ric_77]

having just spoken with PTS and asked them who exactly is responsible for NIC payments on these loans.

They say that it lands on myself as i was self employed but i had no limited co setup and the few historical payslips that i have access to cleary say employee so somewhat confused by this.

Anybody else in the same position?

[webberg]

how many do you have for APS/MW/Buckingham ?

We have some but we're counting in dozens rather than hundreds.

It depends how you measure. We tend to group schemes into families and then bring those families into basically 4 scheme types.

APSE is type C for us and that group has a lot of members.

[basilspinone]

Big Group has a number of IQ users.

how many do you have for APS/MW/Buckingham ?

[webberg]

I've been reading this thread for hours!! Thank you all for the useful information and taking the time to contribute.

I started a scheme with IQ in the second quarter of 2012 and finished in the first quarter of 2015.

The discovery I have received sites 2013/14 year. Am I right in understanding that under a settlement I would need to pay tax from 2012-2015? i.e. Every year I used the scheme despite an element of it being over 4 years old?

The tax planning company that advised me to use IQ are still going today and claim that I am one of the only people they know of using that scheme who have received a discovery notice. I find that hard to believe but would been keen to hear from anyone else who used the scheme in the past.

Big Group has a number of IQ users.

[kentishlad]

Mr MLeggsy is unfortunately correct.

Our view of the situation is that by having a company you control in the chain of payments is not helpful.

I'm working on a note which will explain a bit more without giving away IP that belongs to my clients.

Well Ive lost my parter through this, and my home already. What else can those c**** at HMRC do to me now? Push me in front of a bus?

[Jonmh]

I foolishly joined the scheme in 2015 but thankfully only for a matter of weeks. I was contacted by HMRC last August and their calculations were that I owed them £3,400 which I’m am now paying on a monthly basis over a year. Could someone advise on how to go about getting the loan written off as the last thing any of us need is requests from Knox trust for repayment after settling with HMRC?