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

[Paulhoylake1976]

Gladstone Solicitors

About 2 hours ago i received a letter from the lovely people at Gladstone Solicitors demanding a large sum of money. After finding this thread and visiting my local solicitor i now feel much better.

Please do not ignore this letter, please dispute it. Im disputing on the fact that i have paid over £29k to HMRC, and therefore it was not a loan but income.

[Paulhoylake1976]

Facebook page

Can we setup a facebook page for this?

[stevematch]

ETC

Ok - so I have just spoken to a Lawyer, an expensive one (but free as a colleague of my cousins).
His view was that a collective approach to this would likely prove too tricky for a company like Gladstones. They will be hoping for low hanging fruit to cave in rather than a protracted, and expensive, set of court actions. I, for example, would be bankrupted by having to repay the loans and the courts would likely look very carefully at the detail and purpose of the loans. in addition, court action would likely lift the rock on a lot of slugs ho ould rather remain hidden.

From a Trust perspective, settlement and a write off would allow them to move on. He considered the acions by Baker Tilly shortsighted given the reputational damage to them and IoM as a finance centre.

He stressed that collections such as LCAG, BigGroup and others (for instance EtcTax) should be able to push back on this and come to some form of agreement as regards writing off of loans for a nominal and realistic fee.

He also recommended an approach to MPs as there is a clear demarcation between the good guys and the bad guys here; something politicians like.

in summary, tell them to FO.

I engaged with ETC and i'm glad I did, whoever posted the initial post on it thanks... and this is another good bit of info until some promoter shoots it down..

[DG705]

Interesting Blog on my Accountants website:

Spectre And The Payback | Warr & Co Chartered Accountants

[webberg]

Please do not ignore this letter, please dispute it. Im disputing on the fact that i have paid over £29k to HMRC, and therefore it was not a loan but income.

That is entirely incorrect.

It is first income and second a loan.

And yes, it can be two things legally because:

When you became entitled to the money it was taxable income

and then

You allowed the employer to send it to a trust/third party who loaned it back to you.

So if your solicitor told you otherwise, I'm afraid that they are also incorrect.

[Paulhoylake1976]

That is entirely incorrect.

It is first income and second a loan.

And yes, it can be two things legally because:

When you became entitled to the money it was taxable income

and then

You allowed the employer to send it to a trust/third party who loaned it back to you.

So if your solicitor told you otherwise, I'm afraid that they are also incorrect.

So on what basis do i dispute this demand?

[MattWills78]

Subject access request

Hi All,

Just wondered if anyone else has submitted a subject access request to Felicitas Solutions? And if so, what they got back?

I have just done so to ensure I have access to all personal information they hold about me.

Matt

[seriouslyman]

Hi All,

Just wondered if anyone else has submitted a subject access request to Felicitas Solutions? And if so, what they got back?

I have just done so to ensure I have access to all personal information they hold about me.

Matt

Yes, I'd be very interested to hear what is said back but bear in mind they have 30 days to respond (I think).

Also though - has anyone disputed their demand from Gladstones and actually heard back from them or had any further contact from them or had anything back from complaints raised to the Solicitors Regulatory Authority as some said they had reported?

[Paulhoylake1976]

Yes, I'd be very interested to hear what is said back but bear in mind they have 30 days to respond (I think).

Also though - has anyone disputed their demand from Gladstones and actually heard back from them or had any further contact from them or had anything back from complaints raised to the Solicitors Regulatory Authority as some said they had reported?

When did you receive your letter, i've only just got mine.

[webberg]

So on what basis do i dispute this demand?

Here are your choices:

1. Do your own research and make such representations to the parties involved as you deem fit
2. Engage your own solicitor to challenge the claims
3. Join a group that is already doing that

(I'm assuming that paying the demand is not an option).

1. Requires a lot of time and probably the collection and collation of evidence that you may not have.

2. As you have gathered from reading this thread - please do that - you are in specialist territory and educating a lawyer as to the minutae of the issues here is something you will have to pay for.

3. To the best of my knowledge the people who have had demands and who have sought and perhaps joined a group, have joined either:

WTT's group (that's me and my firm), or

ETCtax's group (a guy called Andy Wood with whom we speak regularly)

I'm aware that other advisers have opined that either the matter is so straightforward that the simplest of rebuttals would suffice to make it all go away whilst others have asked for some quite substantial fees without actually saying what they plan. I have no other details on those.

We (WTT) offer a free call and a modest joining fee for our group.

ETCtax I think also offer a free call and will make the initial response for free as well (or at least they were last week).

I think that covers it.

No adviser is going to go into detail here as to their strategy.

Unfortunately there are many opinions and views in this thread to sift. Some are sensible, some not and some frankly are fantasy. However, read them all as it will repay you.