Schemes like Vanquish which claim to bypass the Loan Charge

[GreenMirror]

Wow, that's a lot of money. Especially for no guarantees. You get the feeling the vultures are out there circling the already battered, beaten and vulnerable.....I can imagine the sales pitch....I'm thinking salesmen...snake oil...things like that at the moment.....hmmm. I'm also imagining 'oh well we gave it our best shot, pass the bubbles Giles..' I suppose it is all my fault after all tho....maybe yes, go on...do your best....doesn't much matter anyway.....just money innit?

I thought it was very cheap for what is provided. I imagine a tax adviser learning about this new legislation on my money.

If you think a professional is expensive, you should see the cost of hiring an amateur.

[webberg]

Wow, that's a lot of money. Especially for no guarantees. You get the feeling the vultures are out there circling the already battered, beaten and vulnerable.....I can imagine the sales pitch....I'm thinking salesmen...snake oil...things like that at the moment.....hmmm. I'm also imagining 'oh well we gave it our best shot, pass the bubbles Giles..' I suppose it is all my fault after all tho....maybe yes, go on...do your best....doesn't much matter anyway.....just money innit?

I have rarely taken offence at much on these threads and certainly this is first time that I have felt motivated to post a defence.

If you have called us and spoken with one of our experienced and knowledgeable people and still have the view above, fair enough. I think however, you have not.

If you have not, then frankly I very much resent being placed into the same category as those promoters who have shown themselves to be lacking in integrity and professionalism.

We are independent. We have never sold a scheme. We have spent 4 years and a lot of money in understanding and supporting this sector.

Yes we are commercial and yes we make a profit, almost all of which has gone back into the business in hiring more people as demand increases.

We make no judgments as to why people used a scheme or not. That is largely irrelevant to us. We do care about getting them out in whatever manner suits them.

If you want to criticize then please do so from knowing the facts and not from making inaccurate assumptions or colouring us with the same brush as those who have made millions over the past two decades.

[pateen]

Does anyone know the deadline for regestering interest in a settlement type scheme?

[webberg]

May 31st 2018

[pateen]

May 31st 2018

Thanks Webberg

[Iliketax]

FYI

...

Arrangements that claim to get users out of the 2019 loan charge

HMRC is aware of a number of arrangements being promoted which claim to enable users to escape the 2019 loan charge. HMRC’s view is that these arrangements do not work and users are advised not to sign up to them. While promoters claim that these arrangements work, users should be clear that HMRC does not agree. Any arrangements to avoid the loan charge, which seek to deceive HMRC as to what is really happening, may be fraudulent.

A number of previous cases promoted as being compliant and legal have resulted in criminal convictions for the key people involved and extensive investigation of several hundred users. HMRC will investigate all of these arrangements and is likely to take similar action if it finds any that are seeking to deceive. At the very least, anyone who takes part in an offensive arrangement is likely to face penalty sums, chargeable along with any tax and interest that will be due.

...

[GreenMirror]

HMRC is aware of a number of arrangements being promoted which claim to enable users to escape the 2019 loan charge. HMRC’s view is that these arrangements do not work and users are advised not to sign up to them. While promoters claim that these arrangements work, users should be clear that HMRC does not agree. Any arrangements to avoid the loan charge, which seek to deceive HMRC as to what is really happening, may be fraudulent.

A HMRC missive upon which we can all agree.

A shame they are not going to close the arrangements down - do they have the power to do this?

[webberg]

I've had the above message as well.

I would echo the message and say that any scheme that claims to avoid the loan charge should be very carefully and diligently examined and referred to an independent adviser.

It does seem however that HMRC just can't help themselves when it comes to shaping the message.

The case they point to is a well known fraud case where some £250+ million of costs were invented to make it look like a film(s) was being made. Straight up criminal case.

I also note that we have a new phrase for the tax lexicon "offensive arrangement".

No idea what that means except for whatever HMRC choose to say it means.

[webberg]

A HMRC missive upon which we can all agree.

A shame they are not going to close the arrangements down - do they have the power to do this?

No they do not and never have had.

[regron]

Why close down the money making machines.