Winchester Contracts Letter - I received Today

**DaveB** · 25 August 2018, 11:40

Originally posted by snk888 View Post

They sent me this today, I'm already settling with HMRC. And they want the loans to be repaid! - No Chance.

https://ibb.co/g0Eacp

https://ibb.co/iu8qA9

They don't actually appear to be asking you to repay the loans, they are offering it as the 2nd of two options, to be followed by a taxable disbursement of the funds at a later date. The first is to settle with HMRC which you are already doing.

**snk888** · 25 August 2018, 12:02

Originally posted by DaveB View Post

They don't actually appear to be asking you to repay the loans, they are offering it as the 2nd of two options, to be followed by a taxable disbursement of the funds at a later date. The first is to settle with HMRC which you are already doing.

Thanks for the reply. On the second page the first option it mentions I have to repay? I'm now getting confused.

**DaveB** · 25 August 2018, 13:21

Originally posted by snk888 View Post

Thanks for the reply. On the second page the first option it mentions I have to repay? I'm now getting confused.

Firat page :

Appears to be setting out the background to the scheme, the associated trusts ands the current legal situation. It's not asking you to do anything.

Second Page :

Sets out what they see as your two option.

1. Settle with HMRC, which you say you are already in the process of doing and the expected consequences of doing so from the point of view of the loans. Even if you settle the loans remain outstanding and repayable according to the terms of your agreement. To avoid that you will need them to issue a Deed of Release which they would charge you for (based on the behaviour we have seen from other scheme operators) and you could then be liable for inheritance tax on the full amount of the loans as you would be regarded by HMRC as having inherited the money from the trust as a result of the loan being written off.

2. Repay the loan. The funds would then be redistributed by the trustees as a taxable sum. They don't say when this would happen or how or over what period.

If you haven't already you need to get some professional advice either independently or via Big Group, the LCAG or other groups. Look for posts from Phil at DSW and Webberg on here for more details on how to contact them.

**Nortoner** · 26 August 2018, 16:16

Winchester letter received

Hi

We have received a letter this weekend too....we are in total shock.

Our best option seems to be setting the outstanding tax and requesting the loan be discharged (easier said than done according to the forum).

My question: we are all in this mess because of a rogue company. Has anyone contacted the media? Would HMRC take a dim view? I would not want to do anything against HMRC guidelines but feel so strongly that the company directors should be brought to book. We cannot afford a legal case, the outstanding tax is causing enough stress, we are not sleeping or eating and the media seem the only option.

Is contacting the media a really bad idea? Winchester has gone under, their sister company has gone under but they are still advertising on Linkedin???? Surely, this is illegal???

**snk888** · 27 August 2018, 11:06

Originally posted by Nortoner View Post

Hi

We have received a letter this weekend too....we are in total shock.

Our best option seems to be setting the outstanding tax and requesting the loan be discharged (easier said than done according to the forum).

My question: we are all in this mess because of a rogue company. Has anyone contacted the media? Would HMRC take a dim view? I would not want to do anything against HMRC guidelines but feel so strongly that the company directors should be brought to book. We cannot afford a legal case, the outstanding tax is causing enough stress, we are not sleeping or eating and the media seem the only option.

Is contacting the media a really bad idea? Winchester has gone under, their sister company has gone under but they are still advertising on Linkedin???? Surely, this is illegal???

I am already in the process of settling with HMRC. My loan was around £6k. The Trust helpline (I don't trust them) is looking after Winchester. They are asking for £250 admin fee. And 5% of the loan for the deed of realease. When I spoke to HMRC all they said is I would have to pay tax owed. They do not want the deed of release.

**Nortoner** · 28 August 2018, 07:41

Originally posted by snk888 View Post

I am already in the process of settling with HMRC. My loan was around £6k. The Trust helpline (I don't trust them) is looking after Winchester. They are asking for £250 admin fee. And 5% of the loan for the deed of realease. When I spoke to HMRC all they said is I would have to pay tax owed. They do not want the deed of release.

Thank you, this has put my mind at rest slightly (we haven't slept all weekend).

If the deed of release is not received, however, does this mean that the loan is still in place and accruing interest? Is there any guarantee that they will send the Deed of Release if the money is paid?? I don't trust the Trust co as far as I can throw them.

Thank you

**Feeling robbed** · 28 August 2018, 12:34

Winchester Letter

Hi, I too only just received the Winchester letter on Saturday 25th August 2018. To say I'm a bit concerned is an understatement, I feel like I have been robbed, just glad I was only with them for 10 months.
I have mailed the trust line but not received a response.
I think the best way forward is to give HMRC all the info they asked for in their letter of 38 questions (21 on information and 17 for documentation - registration, bank statements, salary/ loan payslips, emails.....) as they will find out one way or another.

If I still owed a debt would it not show up on my Experian report?

**creativity** · 29 August 2018, 10:11

First of all, why on earth is anyone still using these companies post 2011, let alone 2016 or now! Crazy.

My advice would be to deal with HMRC directly and forget about Winchester - don't contact them, terminate all ideas about paying an admin fee and 5% of loan fee. They are only after more money from you and are not interested in helping.

Cooperate with HMRC and go ahead with a settlement offer. Compare the settlement with potential liabilities in LC next year and make your decision (settlement will be cheaper unless you haven't worked this year). Pay up (lump sum and over time) and get on with your lives.

That's what I've done and I have saved another fortune in fees, stress and I found HMRC quite amicable to deal with.

**dammit chloe** · 29 August 2018, 10:21

Originally posted by creativity View Post

First of all, why on earth is anyone still using these companies post 2011, let alone 2016 or now! Crazy.

A lot of people, like me, just don't understand the ins and outs or the vagaries of the tax code. They don't follow the HRMC web site and don't have an interest in the subject. So like me they trust "the professionals" and hope to keep their affairs as admin free as possible. I have always been phobic in these matters.

So it's easy when you are familiar with the subject but a lot, possibly the majority, of people aren't. It's a real shame that there isn't better and simpler regulation and clearer warnings so that people don't get suckered. Taxes are necessary but they shouldn't be so complex for people who are just doing plain, ole work.

IMV There ought to be PAYE for self-employed that reflects the reduced security and benefits in a simple way with an additional small amount for expenses. This ought to negate the need for IR35. But, what do I know.

Winchester Contracts Letter - I received Today