Loan Charge - a beginners guide

[Big Rod]

Hi all.

I am sorry as I'm quite sure this will go over previously covered ground but I only found out about the loan charge a few weeks ago due to receiving an email from THL and my head is absolutely spinning with all of this so was wondering if someone could explain to me in words of less than three syllables...

- I used DarwinPay in 2010. I was told that the submissions to HMRC stated I was using the scheme.
- Was hit with an APN for this which I settled in 2015
- I haven't had any comm's from HMRC regards any LC liability

My questions are...

- As I settled the APN, does that mean that 2010 is now closed for me?

- If not, what constitutes an open or closed year?

- What are CL01 and CL02? (I don't know what they mean and/or if I have been affected or will be)

- I've been advised to approach HMRC to glean a settlement amount from them. Will they be able to provide that and what info' are they likely to need?

- Can THL be trusted? The initial emails, text messages and website looks fairly amateur.

- Is it advisable to log into the THL 'portal'?

- If so, what info' will they provide?

...I'm also at a loss as to what order to do things so any advice around that will be gratefully received.

Like I say, I'm sorry for going over old ground but I'm utterly lost despite trying to educate myself with the information I've found here and elsewhere.

Thank you so much in advance.

[piebaps]

https://www.contractoruk.com/forums/...t-details.html Post No 8 from webberg is a fair starting point.

[Big Rod]

https://www.contractoruk.com/forums/...t-details.html Post No 8 from webberg is a fair starting point.

Hi Piebaps, thanks for that.

Coincidentally enough I'd just finished reading that post.

While the scheme I used was though Darwin, I don't know who the trustee is, (even if it was Darwin themselves), so I'm a bit stuck on who to approach if it's at all possible.

There seems to be some conflicting opinion on whether it's advisable to contact THL or the trusts too which is compounding my confusion.

Many posts advise to 'seek advice'. I need advice on who to seek the advice from.

The other thing is, shouldn't I have been contacted by HMRC already if I'm liable or is that just the luck of the draw as to who has had comm's?

Really, really lost with all this.

[here4beer]

Hi Piebaps, thanks for that.

Coincidentally enough I'd just finished reading that post.

While the scheme I used was though Darwin, I don't know who the trustee is, (even if it was Darwin themselves), so I'm a bit stuck on who to approach if it's at all possible.

There seems to be some conflicting opinion on whether it's advisable to contact THL or the trusts too which is compounding my confusion.

Many posts advise to 'seek advice'. I need advice on who to seek the advice from.

The other thing is, shouldn't I have been contacted by HMRC already if I'm liable or is that just the luck of the draw as to who has had comm's?

Really, really lost with all this.

I found out late too, and i felt like my life was crashing around me. I would recommend WTT off here (webberg). They will almost certainly have dealt with a case like yours, and are WELL up to speed with this whole loan charge mess. I think you even get a free 30min phone chat with the head honcho. Home - WTT Consulting

[webberg]

Hi Piebaps, thanks for that.

Coincidentally enough I'd just finished reading that post.

While the scheme I used was though Darwin, I don't know who the trustee is, (even if it was Darwin themselves), so I'm a bit stuck on who to approach if it's at all possible.

There seems to be some conflicting opinion on whether it's advisable to contact THL or the trusts too which is compounding my confusion.

Many posts advise to 'seek advice'. I need advice on who to seek the advice from.

The other thing is, shouldn't I have been contacted by HMRC already if I'm liable or is that just the luck of the draw as to who has had comm's?

Really, really lost with all this.

Call us for a free initial chat. 0203 468 0000

Ask for Graham

Or call Phil Manley.

[Big Rod]

Call us for a free initial chat. 0203 468 0000

Ask for Graham

Or call Phil Manley.

Hi Webberg, thanks for replying.

I've actually already spoken with one of your guys.

The outcome was First...

- Contact HMRC for a settlement figure
or
- Join BIG Group to defend the position. (I've recently bought a small business so don't have the funds)

Off the back of either of them I should then approach THL for the 'deed'.

As I say, there seems to be a lot of conflicting info' on whether THL should be trusted.

I take from it that I should go to HMRC but I don't know how to start or what I should ideally put in the initial email.

And is this advice still applicable as opinions seem to differ.

[Big Rod]

P.S.

What constitutes open and closed years?

[Iter]

Hmmm it seems then everything is shifting right, no rush then in physically signing any settlement contract (if already engaged/ going through figures)...

[webberg]

Hi Webberg, thanks for replying.

I've actually already spoken with one of your guys.

The outcome was First...

- Contact HMRC for a settlement figure
or
- Join BIG Group to defend the position. (I've recently bought a small business so don't have the funds)

Off the back of either of them I should then approach THL for the 'deed'.

As I say, there seems to be a lot of conflicting info' on whether THL should be trusted.

I take from it that I should go to HMRC but I don't know how to start or what I should ideally put in the initial email.

And is this advice still applicable as opinions seem to differ.

I can assure you that nobody here would advise you to contact THL

[Big Rod]

I can assure you that nobody here would advise you to contact THL

Hey Webberg,

The notes I took during the call say...

"Apply for deed off the back of options 1 or 2"

...With a sub-comment of...

"5% of loan value charge for such is outrageous"

Now I may have taken it out of context but the consultant confirmed that it's not something I can do myself to which I have maybe assumed they meant through THL due to the 5% notation.

If I shouldn't go to THL, then do I need a deed? If I do how do I go about it?

I'm not trying to create conflict or put you on the spot, I promise, I'm just trying to establish the best course of action for myself.

I really appreciate you taking the time to reply, thank you and I apologise if I hit a nerve.