AML 2019 Loan Charge

[CockneyRed]

@mr_786 - I too am getting mixed up numbers from Knox/PTS whatever they call themselves. It's a fecking joke. @Kentishlad, I am in same boat with MP not replying - he too is a Tory.. Not sure what else to do to get them to listen/understand. My focus at work is on these threads and past emails from the cnuts at AML- Carnegie etc. Life at home is strained to say the least, Not sure how we'll survive. I am looking at a second job at the moment to help pay for this extortion. Will take me to a 12-13 hour day not including commute for my 'day' job ... thanks HMRC

[kentishlad]

Has anyone got their loan figures from PTS? They gave me a figure yesterday over the phone. I asked them to email me that figure, but to date, haven't received the email .

Secondly, they are not giving me the breakdown.
Thirdly, the figure does not match to what I worked out through my bank statements.

Has anyone had the same problem? How HMRC would verify the loan figures? Can I prove it via bankstatments?

I must say this LC2019 is killing me now .. can't focus on anything at work, home etc ....

Ive ended up sending in a Subject Access Request to SP Management/PTS Limited and Knox Trust.
Just so you know PTS are in the building next door to SP Management and also registered to the same address as Carnegie Knox Accountants.. I still keep getting the 'your account details were held with an old SP management company'
I may be one of the luckier ones who was only in this boat for about 8 months. I keep trying to persuade others that life goes on but for one in particular I fear he may be the next local headline

[GUD]

Has anyone got their loan figures from PTS? They gave me a figure yesterday over the phone. I asked them to email me that figure, but to date, haven't received the email .

Secondly, they are not giving me the breakdown.
Thirdly, the figure does not match to what I worked out through my bank statements.

Has anyone had the same problem? How HMRC would verify the loan figures? Can I prove it via bankstatments?

I must say this LC2019 is killing me now .. can't focus on anything at work, home etc ....

Hi, PTS will only give you total loan amount. For breakdown of loans, you need to engage with them and pay £250+VAT. I was provided total loan amount twice - two different figures! and that too does not match with my bank statement. I have given up asking them for loan details. You can calculate it from your bank statement. If SP/ PTS advise different figure to the HMRC next year, they wont be able to substantiate it. So, don't worry and go by your bank statement. Just make sure you take only the loan amount and not retainer as the gross retainer would already have been included in your tax returns.

[webberg]

I repeat that is anybody is feeling desperate and wants a free chat about the position, call us.

We cannot promise answers or solutions but we can help put this into perspective and perhaps give you some distance in which to make sensible decisions.

I have no knowledge of how PTS/Knox/SP interact and will not speculate on that.

I will say that if you have better information on the loan quantum, perhaps from bank statements, that would be a perfectly acceptable basis upon which to make a declaration to HMRC when the time comes.

In most schemes, there is a ratio between the salary/drawings and the loans. HMRC know this and have used it in the past when issuing APNs. This is prone to error where you were in a scheme for only part of a year, but otherwise is where HMRC is likely to go in the absence of good or conflicting information.

The point here is that it's all too easy to get sucked in to a particular mind set around this issue.

You have time.

Aside from registering an interest for the settlement by the end of this month which you should do, nothing else happens for a while.

Explore other options for loan values. If you have the gross value but not the annual splits, look at bank statements; consider your then day rate and back solve; if necessary make an educated guess.

I'm pretty sure that HMRC will accept any reasonable basis for calculating loans where you can show that more accurate information is unobtainable or obtainable only at a cost.

I repeat, speak to an adviser because you will get a better picture.

[Runster]

Has anyone got their loan figures from PTS? They gave me a figure yesterday over the phone. I asked them to email me that figure, but to date, haven't received the email .

Secondly, they are not giving me the breakdown.
Thirdly, the figure does not match to what I worked out through my bank statements.

Has anyone had the same problem? How HMRC would verify the loan figures? Can I prove it via bankstatments?

I must say this LC2019 is killing me now .. can't focus on anything at work, home etc ....

Hi. Make sure they give you all the lone figures - they don’t want you to put current loans via SP Management Malta in your submission to HMRC - they say it falls outside of LC19.

Work out all you options. If you decide to settle, look at your spending and outgoings, reduce outgoings and work out what you can afford to pay per year, and ask HMRC for sufficient time to pay so that you don’t cripple yourself.

[kentishlad]

Hi. Make sure they give you all the lone figures - they don’t want you to put current loans via SP Management Malta in your submission to HMRC - they say it falls outside of LC19.

Work out all you options. If you decide to settle, look at your spending and outgoings, reduce outgoings and work out what you can afford to pay per year, and ask HMRC for sufficient time to pay so that you don’t cripple yourself.

Is this because they are currently signing people up to this scheme? Or is this actual fact? I know so many people that have been told this although PTS actually said it was covered!!

[Runster]

Is this because they are currently signing people up to this scheme? Or is this actual fact? I know so many people that have been told this although PTS actually said it was covered!!

It seems to me that it’s a question of interpretation rather than fact. It may be true according to the letter of the law, but not according to the intent of the law. I have asked a tax advisor to look into it. He says they’ve said the same think to many people. One person at SP Mgt said candidly that if I put down SP Mgt Malta loans on my settlement details, HMRC will become aware that there are schemes not captured by LC19. That would screw the final nail in the coffin of SPM’s business model. As if it’s not screwed anyway.

[cojak]

It seems to me that it’s a question of interpretation rather than fact. It may be true according to the letter of the law, but not according to the intent of the law. I have asked a tax advisor to look into it. He says they’ve said the same think to many people. One person at SP Mgt said candidly that if I put down SP Mgt Malta loans on my settlement details, HMRC will become aware that there are schemes not captured by LC19. That would screw the final nail in the coffin of SPM’s business model. As if it’s not screwed anyway.

Well you can bet that HMRC knows now.

[MayMadness]

MP's Not Responding

@mr_786 - I too am getting mixed up numbers from Knox/PTS whatever they call themselves. It's a fecking joke. @Kentishlad, I am in same boat with MP not replying - he too is a Tory.. Not sure what else to do to get them to listen/understand. My focus at work is on these threads and past emails from the cnuts at AML- Carnegie etc. Life at home is strained to say the least, Not sure how we'll survive. I am looking at a second job at the moment to help pay for this extortion. Will take me to a 12-13 hour day not including commute for my 'day' job ... thanks HMRC

That is interesting. hmm... My MP is Tory and they always got back to me in a 2 week time frame but I haven't written specifically about this yet cause it was physically making me ill. I'll do it when I get the chance this week to see how they respond.

In the mean time...Could try emailing or writing again with the following tactics as your first line.

1. I would like to vote Tory but I have concerns about the Loan Charge.
2. I fear that I may need to renounce my support for the Tory party because....
3. Dear MP, Could you please share your thoughts regarding the 2019 Loan Charge and how you feel it will impact the UK. (leave it open ended for them to show their cards and then politely raise your concerns.)

End with ....
"I look forward to hearing from you within a 2 week time period from the date of this email".


There is a website that claims to send emails to MP's. I don't quite get it but haven't looked at it thoroughly.
https://www.writetothem.com/about-qa#govt

Take a look at the suggestions of "What should I do if my MP does not respond".

As for myths.... I have heard from local councils that if you would like your MP's attention to then attempt the following.

1. Handwritten letters
2. Visiting your local surgeries.
3. State your 'interest' or 'allegiance' or 'wavering devotion' to the party. They do not want to lose voters and want to gain new ones.

I appreciate these are daunting tasks but its a legitimate avenue to pursue and raises awareness. If enough people flag in an area or within a party. They will be hard pressed to ignore it.

You could also approach the other parties in your area.

Word of advise about letters and face to face meetings. MP's are apparently, how I have observed NHS staff, skittish about anything over emotional in the form of assertiveness or anger. Any sign of 'perceived' aggression is claimed as a form of 'abusive behaviour' and hence more likely to stonewall people. I personally think it is unfair because a natural human reaction when stressed is to get angry. Have someone else come with you if you would like support at a surgery. Phrase things verbally, even from the start, "I am sorry but I may come across very strongly but I am frightened and on the point of desperation. Please help me."

If anyone wants help writing letters...than please contact me. And you really need to make sure your name and address is on the correspondence.

MM

[JackH1]

're loans

Hi, PTS will only give you total loan amount. For breakdown of loans, you need to engage with them and pay £250+VAT. I was provided total loan amount twice - two different figures! and that too does not match with my bank statement. I have given up asking them for loan details. You can calculate it from your bank statement. If SP/ PTS advise different figure to the HMRC next year, they wont be able to substantiate it. So, don't worry and go by your bank statement. Just make sure you take only the loan amount and not retainer as the gross retainer would already have been included in your tax returns.

I am also having this issue PTS have given me a different figure from my bank statements and waiting to hear back from them shortly. It's all very stressful!