Procorre - letters advising allocation of profits

[BrilloPad]

Unfortunately they are probably not aware of the mess it causes and the con-men/ women behind these schemes will be missing out the key details.

Oh they are well aware. But they refuse to accept it. Some people are beyond help.

[NickLeeson2]

Being blunt is the best way so keep it coming.

I have a tax adviser who worked close to Procorre and they don't seem to know which way forward is the best way. As you can imagine it is knowing which experts to trust, especially as it was an expert who told me that the scheme is legit.

I have not received any letters from HMRC requesting information about tax years involving Procorre or any direct letter stating i'm under investigation due to using Procorre. The only thing I have received is an email from someone at Procorre with a bogus figure.

[Benson77]

There must be someone out there who has taken advice from an adviser (like webberg) and has sorted this all out in some way but Its not come to my attention anywhere where someone has posted and said that this has happened, there must be someone, why are there no reviews/recommendations going about saying 'go here, they sorted everything for me'? I dont expect an answer for free but I would expect someone to say they got the answer from somewhere!!

[BrilloPad]

I think it is incredibly unlikely that anything is sorted out. It is way too early. It may well be that some have spoken to advisers.

Sadly many people bury their heads in the sand and don't do even the most basic research.

[NickLeeson2]

I think it is incredibly unlikely that anything is sorted out. It is way too early. It may well be that some have spoken to advisers.

Sadly many people bury their heads in the sand and don't do even the most basic research.

Sadly not all TAX advisers are on the ball with what to do and Procorrre no longer give guidance.

It looks like it is a case of paying tax on the PSC payment as this is what the individual receives directly.

[BrilloPad]

Sadly not all TAX advisers are on the ball with what to do and Procorrre no longer give guidance.

It looks like it is a case of paying tax on the PSC payment as this is what the individual receives directly.

IMO you need quite a specialist tax adviser.

[Fred Bloggs]

IMO you need quite a specialist tax adviser.

But a specialist tax adviser in what exactly? It always seemed to me (rightly or wrongly) that opacity, obfuscation and secret-ism were the key hallmarks of Procorre. How'd you choose the "right specialist" under those circumstances. Of course, you may well understand far more than I about Procorre.

[BrilloPad]

But a specialist tax adviser in what exactly? It always seemed to me (rightly or wrongly) that opacity, obfuscation and secret-ism were the key hallmarks of Procorre. How'd you choose the "right specialist" under those circumstances. Of course, you may well understand far more than I about Procorre.

I understand nothing about Procorre. I do understand very well the way HMRC treat people. And the best ways of getting help.

IMO a specialist adviser is someone who has dealt with these type of schemes before. The more the better. Of course they are all a bit different.

I have never had posts moderated which suggest webberg or Phil. Phil did put up a linkedin post recently recommending other advisers too.

No adviser has a silver bullet. Its going to be a long hard slog and HMRC will make progress as slow, difficult and costly as possible.

[Fred Bloggs]

I understand nothing about Procorre. I do understand very well the way HMRC treat people. And the best ways of getting help.

IMO a specialist adviser is someone who has dealt with these type of schemes before. The more the better. Of course they are all a bit different.

I have never had posts moderated which suggest webberg or Phil. Phil did put up a linkedin post recently recommending other advisers too.

No adviser has a silver bullet. Its going to be a long hard slog and HMRC will make progress as slow, difficult and costly as possible.

(My bold highlight) Exactly my point, nobody did/does. So, it's pretty much impossible to choose the "correct" tax specialist. It's like a lucky dip.

[BrilloPad]

(My bold highlight) Exactly my point, nobody did/does. So, it's pretty much impossible to choose the "correct" tax specialist. It's like a lucky dip.

Graham has implied he understands - I am sure if anyone sends him a PM he will respond.

I just spoke to Phil and he knows it inside out. In fact, he is working on it now. If anyone wants to contact Phil then email Phil at pmtaxc dot com. If you mention CUK/BrilloPad it will help. Any issues getting in touch, feel free to PM me.