I need help! FS Capital

[jog2001]

See https://www.contractoruk.com/forums/...-nutshell.html for the options - you can definitely call WTT up and organise a call back.

Thank you

[nebuke]

Your husband earned money for K2/Hyrax.

he was in turn paid by K2/Hyrax. He was however paid a small taxable amount and larger amount that K2/Hyrax claimed at the time (and perhaps still do - I don't know) was not taxable.

The larger amount, in order to be non taxable had to in a different legal form. In this case a loan.

HMRC disagrees with the tax treatment applied at the time but have spent 10 years trying (not very hard) and failing to bring a case to prove that. This has allowed many of the employers in such schemes to disappear. Faced with this HMRC has chosen to chase the weakest link in the chain - your husband for the tax.

All of the tax issues however do not really impact the loan. your husband signed an agreement. It has consequences. you now have to deal with them.

"We" are WTT. We are tax advisers in this space. We have also taken steps to prevent any immediate action from FS Capital in terms of recalling loans. There is a moratorium in place until mid March by which time, hopefully, matters will be clearer.

I'm happy to call you and explain the position. You can PM me via this site or call our switchboard and ask our receptionist to book you an appointment with me (Graham). The first call is free, no obligation.

(It may be that the PM is not active - I think you have to do 5 posts before it appears).

Am in the same boat - need assistance - can I PM/speak with someone at your firm to explain my position?

[blossom]

Am in the same boat - need assistance - can I PM/speak with someone at your firm to explain my position?

I'm in the same boat too, but i settled in full with HMRC years ago as I couldnt be bothered with this hassle.

Does that mean I have to pay both the loan and HMRC??

[eek]

I'm in the same boat too, but i settled in full with HMRC years ago as I couldnt be bothered with this hassle.

Does that mean I have to pay both the loan and HMRC??

If it was a loan - quite possibly - get advice from WTT but at least you aren't in denial about the fact it could be a loan...

[eek]

Am in the same boat - need assistance - can I PM/speak with someone at your firm to explain my position?

You need to do some work yourself and phone WTT or see what etctax suggest.

[webberg]

Am in the same boat - need assistance - can I PM/speak with someone at your firm to explain my position?

Call us - we are in the phone book.

[MeeToo]

Just got the same letter from FS Capital

As my username might suggest, I too am now in the same boat and am angry, confused and extremely worried. This puts my whole future in jeopardy. I seem to know even less about what to do though. My letter from FS Capital even mentions WTT although I have zero idea of who or what they are.

<mod snip>

[DealorNoDeal]

My letter from FS Capital even mentions WTT although I have zero idea of who or what they are.

What does it say about WTT?

[eek]

Far too much - please delete the second paragraph.

So you earned the money and then gave it to the scheme organisers

Speak to WTT and ask them what to do as you do need advice here.

[webberg]

What does it say about WTT?

It says that they "FS Capital" were approached by WTT and Peak and as a result of that, there was a moratorium placed on further action from FS Capital. That expires 14th March.

It was at the time - and remains today - important that actions are taken after due consideration and with the short and long term interests of clients in mind.

As such a moratorium allowed time for that exercise.

I've seen the communications from Peak as to what they have used the time for. We have communicated with our client group, our thoughts.

With the deadline of 14th March marching toward us at the speed of time, we will now how to consider the next stpes.