WTT Big Group
Hi - I am interested in the Big Group, and wanted to know how to join, and the terms of reference please.
Any information someone can send me would be helpful.
Thank you
LisaP
Hi - I am interested in the Big Group, and wanted to know how to join, and the terms of reference please.
Any information someone can send me would be helpful.
Thank you
LisaP
Originally posted by Hobo
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Ok so I e mailed WTT this morning and got this response back this evening. To be honest I am a confused!!!!
Like many of you I had already settled the contractor loan with HMRC and have received a letter from them stating that the matter was now closed.
I need wine!!!!
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Good Evening,
Thank you for contacting us with regards to the letter that you have received from Felicitas.
We appreciate that receipt of such a letter is very worrying and so we hope the below offers you some comfort and a route for moving forward.
Firstly, the letter you have received is not a demand. It is notifying you that a purported loan that is outstanding in your name has been assigned to a new company.
The letter suggests that the original trustees of the trust from which you received the purported loans have assigned the rights under that loan to Felicitas Solutions Limited based in the Isle of Man.
You may be aware that as being within a purported class of beneficiary of a trust, you have specific rights and similarly, the trustees have obligations to act in your best interest. Originally, the liabilities had been assumed to be assigned and then immediately enforced by a debt management company. This is not the case in your letter, however, it shows that the trustee may not have performed due care and attention in acting in your best interests when agreeing to the assignment. The trustee also has a responsibility to the trust to realise true value of the assets of that trust and so if the purported loan has been moved at undervalue there may be restrictions that can be placed on the activity. From the above, it should be clear that we / you do not currently have sufficient information to consider this assignment to have taken place legitimately and therefore further questions will need to be asked of the assignee and assignor in order to resist any subsequent demands.
As a being within a purported class of beneficiary you also have a right to receive information relating to the trust. We therefore suggest that the next step is to ask questions of the various parties in order to;
Legitimise any assumed debt
Understand if the trustee has fulfilled their duties to you and the trust
Request supporting documentation
We are in active discussions with a number of third parties in this regard, including the IOM regulator and upon conclusion of these discussions, this week, we will be in a position to send our clients a letter to send to the various parties in conjunction with the above. If you would like to become a client, please let us know and we will send the relevant documentation to facilitate this. A fee of £200 + VAT will be requested as part of that process to cover costs of drafting the various communications for you. Should you subsequently join our litigation action to challenge HMRC’s view that a liability falls upon you as an employee of a Contractor Loan Arrangement (WTT Big Group) this fee will be deducted from your joining fee accordingly, if you would like further information on Big Group please let us know.
Should you have any other questions at all please do not hesitate to contact us, or if you would like to progress please let us know.
Like many of you I had already settled the contractor loan with HMRC and have received a letter from them stating that the matter was now closed.
I need wine!!!!
----------------
Good Evening,
Thank you for contacting us with regards to the letter that you have received from Felicitas.
We appreciate that receipt of such a letter is very worrying and so we hope the below offers you some comfort and a route for moving forward.
Firstly, the letter you have received is not a demand. It is notifying you that a purported loan that is outstanding in your name has been assigned to a new company.
The letter suggests that the original trustees of the trust from which you received the purported loans have assigned the rights under that loan to Felicitas Solutions Limited based in the Isle of Man.
You may be aware that as being within a purported class of beneficiary of a trust, you have specific rights and similarly, the trustees have obligations to act in your best interest. Originally, the liabilities had been assumed to be assigned and then immediately enforced by a debt management company. This is not the case in your letter, however, it shows that the trustee may not have performed due care and attention in acting in your best interests when agreeing to the assignment. The trustee also has a responsibility to the trust to realise true value of the assets of that trust and so if the purported loan has been moved at undervalue there may be restrictions that can be placed on the activity. From the above, it should be clear that we / you do not currently have sufficient information to consider this assignment to have taken place legitimately and therefore further questions will need to be asked of the assignee and assignor in order to resist any subsequent demands.
As a being within a purported class of beneficiary you also have a right to receive information relating to the trust. We therefore suggest that the next step is to ask questions of the various parties in order to;
Legitimise any assumed debt
Understand if the trustee has fulfilled their duties to you and the trust
Request supporting documentation
We are in active discussions with a number of third parties in this regard, including the IOM regulator and upon conclusion of these discussions, this week, we will be in a position to send our clients a letter to send to the various parties in conjunction with the above. If you would like to become a client, please let us know and we will send the relevant documentation to facilitate this. A fee of £200 + VAT will be requested as part of that process to cover costs of drafting the various communications for you. Should you subsequently join our litigation action to challenge HMRC’s view that a liability falls upon you as an employee of a Contractor Loan Arrangement (WTT Big Group) this fee will be deducted from your joining fee accordingly, if you would like further information on Big Group please let us know.
Should you have any other questions at all please do not hesitate to contact us, or if you would like to progress please let us know.
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