IQ Consultants, Felicitas Solutions, ECS Trustees - loan repayment demands

[Wazza1882]

Except, it sounds like most people here have already settled with HMRC.

If someone has settled, then a subsequent write-off would not create a tax charge.

Inheritance Tax maybe?

[jbryce]

Except, it sounds like most people here have already settled with HMRC.

If someone has settled, then a subsequent write-off would not create a tax charge.

Most people have not settled with HMRC.

This is extortion; pure and simple.

[NeedTheSunshine]

Except, it sounds like most people here have already settled with HMRC.

If someone has settled, then a subsequent write-off would not create a tax charge.

I thought IHT might apply. Also, you do have to get the holder of the loan to agree to write off the loan. I'm sure that there will be a fee for that. These kind of people don't have any morals at all.

[Wazza1882]

I thought IHT might apply. Also, you do have to get the holder of the loan to agree to write off the loan. I'm sure that there will be a fee for that. These kind of people don't have any morals at all.

And how do we know WHO the holder of the loan is? Yes we got these letters from Gladst*nes but I could have typed those transfer mails out. They literally mean nothing.

[webberg]

As far as I can see a tax charge on the write off occurs by operation of the law.

IF you have settled and IF the contract you signed says that no further charge arises (preferably mentioning section 554C by name) then I would agree that a second charge would be unfair and possibly unlawful.

I suggest that otherwise, whilst there are good arguments for the 554C charge not to apply, actually proving it in law is rather trickier.

Do we trust HMRC not to try it on?

(I remind you that settlement involving your own company in an EBT, HMRC try to make a benefit in kind charge if the company pays some of the tax - sec 222/223).

Please go and check even if you have settled.

[78paul]

Inheritance Tax maybe?

But it was already classified as Income Tax by HMRC, they cant tax it twice.... Can they?

Therefore, If the Income tax has already been settled with HMRC, even if its still going through, then IF Gladstones' letter is true to their word, then making that one off payment would write those "loans off including all interest"... And covering two Laws..
Will it make it all go away so you can move on with your lives? I don't know. I do know that for the last 5 plus years I have been dreading those HMRC letters and now we have this..

Ever since Wednesday I have been feeling so low about all this.. I just want this all to go away, I have enough on my plate without this..
I can see the appeal to bend over and cave in and do it... I'm not saying I will, I find it all completely out of order and cant believe I got myself into this mess..
And this is what they want, to pick on the vulnerable and make some quick cash.

[lowpaidworker]

I wasn't told anything about a loan and I can prove it by the emails between myself and Target Umbrella.

That is my only criticism. I know full well he's trying helping folk but no-one seems to know what the true picture is.

I was with Target 4 years and 100% it was a loan.

[webberg]

And how do we know WHO the holder of the loan is? Yes we got these letters from Gladst*nes but I could have typed those transfer mails out. They literally mean nothing.

Why don't you ask Gladstones or Felicitas or both to prove provenance?

[eek]

But it was already classified as Income Tax by HMRC, they cant tax it twice.... Can they?

Therefore, If the Income tax has already been settled with HMRC, even if its still going through, then IF Gladstones' letter is true to their word, then making that one off payment would write those "loans off including all interest"... And covering two Laws..
Will it make it all go away so you can move on with your lives? I don't know. I do know that for the last 5 plus years I have been dreading those HMRC letters and now we have this..

Ever since Wednesday I have been feeling so low about all this.. I just want this all to go away, I have enough on my plate without this..
I can see the appeal to bend over and cave in and do it... I'm not saying I will, I find it all completely out of order and cant believe I got myself into this mess..
And this is what they want, to pick on the vulnerable and make some quick cash.

HMRC can and will try to find ever possible means to charge you more tax. The thing about a loan is that the money moves multiple times between different entities and all those movements and entities might be taxable...

As webberg states you really do need tax advice before you do anything simply to avoid triggering things off a second time in a second way....

[webberg]

But it was already classified as Income Tax by HMRC, they cant tax it twice.... Can they? Yes they can but income tax and inheritance tax are different charges and tax different things. Not double taxation at all.

Therefore, If the Income tax has already been settled with HMRC, even if its still going through, then IF Gladstones' letter is true to their word, then making that one off payment would write those "loans off including all interest"... And covering two Laws.. Do not confuse the tax scenario with the liability to repay or otherwise. Different things.

Will it make it all go away so you can move on with your lives? I don't know. I do know that for the last 5 plus years I have been dreading those HMRC letters and now we have this..

Ever since Wednesday I have been feeling so low about all this.. I just want this all to go away, I have enough on my plate without this..
I can see the appeal to bend over and cave in and do it... I'm not saying I will, I find it all completely out of order and cant believe I got myself into this mess..
And this is what they want, to pick on the vulnerable and make some quick cash.

Call us. It's free, no obligation, you can stay anonymous if you wish.