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

[webberg]

We have become aware that

Gladstones Solicitors Ltd (based in Knutsford)

Felicitas Solutions (based in Ramsay IOM)

Have been issuing demands for interest payments and repayment of loans that were made by:

ECS International Trustees (IOM) Ltd as a lender who appear to have acquired their interest in the debt from Black Lake Ltd, formerly IQ Consultants Ltd.

(ECS is a wholly owned subsidiary of Baker Tilly, IOM, 2a Lord St, Douglas).

There is a threat of legal action if you don't pay.

Or, you can pay 12% of the alleged balance outstanding and have all loans and interest cancelled.

(helpfully, the letter includes contact details of the Samaritans).

Be aware:

Having all or part of the loan written off for less than full value is more than likely a "relevant step" for the purposes of Part 7A and therefore WILL create a tax charge.

The arrangements leading to the making of the loan may be such that the debt can be challenged legally.

There are a number of other debatable elements in the chain of events here.

We will be advising Big Group clients on this action tomorrow.

In the short term however, the letter invites you to "dispute the amount due" and we recommend that you do.

if you are not in receipt of advice on any involvement you had in IQ - NOW is the time to rectify that.

[AAJ]

Gladstones solicitors demand loan repayment on behalf of Felicitas Solutions Ltd.

Hello,

I have today received a letter out of the blue from Gladstones solicitors who are writing on behalf of Felicitas Solutions. Felicitas Solutions have demanded payment of interest for 2015, 2016, 2017, 2018 & 2019 on an outstanding loan relating to Garraway Ltd.

The letters details several loans, amounting to a very large sum of money. I did in the past use Garraway and settled with HMRC years ago. The amount lent and hence tax paid was far less than the amounts being requested Have Garraway really sold on loans? Can payments be demanded if they have? Is there a way to find out the original details of a loan, e.g. total amount, interest etc.?

I can see that some people have received a similar letter relating to the K2 scheme. Has anyone received a similar demands from Gladstones Solicitors for a loan relating to Garraway?

-a bit shocked-

[RK87]

We have become aware that

Gladstones Solicitors Ltd (based in Knutsford)

Felicitas Solutions (based in Ramsay IOM)

Have been issuing demands for interest payments and repayment of loans that were made by:

ECS International Trustees (IOM) Ltd as a lender who appear to have acquired their interest in the debt from Black Lake Ltd, formerly IQ Consultants Ltd.

(ECS is a wholly owned subsidiary of Baker Tilly, IOM, 2a Lord St, Douglas).

There is a threat of legal action if you don't pay.

Or, you can pay 12% of the alleged balance outstanding and have all loans and interest cancelled.

(helpfully, the letter includes contact details of the Samaritans).

Be aware:

Having all or part of the loan written off for less than full value is more than likely a "relevant step" for the purposes of Part 7A and therefore WILL create a tax charge.

The arrangements leading to the making of the loan may be such that the debt can be challenged legally.

There are a number of other debatable elements in the chain of events here.

We will be advising Big Group clients on this action tomorrow.

In the short term however, the letter invites you to "dispute the amount due" and we recommend that you do.

if you are not in receipt of advice on any involvement you had in IQ - NOW is the time to rectify that.

Hello @webberg, I have received this letter. How do I join the Big Group?

[TM0]

Thanks for this post.
I've received a letter today. I called Gladstones who advised they could not discuss the matter - only take a payment.

Any advice on how to resolve this would be appreciated, including recommendations of legal firms who will challenge this.

We have become aware that

Gladstones Solicitors Ltd (based in Knutsford)

Felicitas Solutions (based in Ramsay IOM)

Have been issuing demands for interest payments and repayment of loans that were made by:

ECS International Trustees (IOM) Ltd as a lender who appear to have acquired their interest in the debt from Black Lake Ltd, formerly IQ Consultants Ltd.

(ECS is a wholly owned subsidiary of Baker Tilly, IOM, 2a Lord St, Douglas).

There is a threat of legal action if you don't pay.

Or, you can pay 12% of the alleged balance outstanding and have all loans and interest cancelled.

(helpfully, the letter includes contact details of the Samaritans).

Be aware:

Having all or part of the loan written off for less than full value is more than likely a "relevant step" for the purposes of Part 7A and therefore WILL create a tax charge.

The arrangements leading to the making of the loan may be such that the debt can be challenged legally.

There are a number of other debatable elements in the chain of events here.

We will be advising Big Group clients on this action tomorrow.

In the short term however, the letter invites you to "dispute the amount due" and we recommend that you do.

if you are not in receipt of advice on any involvement you had in IQ - NOW is the time to rectify that.

[arnold1975]

Repayment demand from solicitor for full loan amount

I received a rather unpleasant letter today (5 Feb 2020) from a solicitor requesting that I pay back the full loan amount (£100k+) within 14 days.

It mentions that it has acquired my loan from a third party. The period I was with the umbrella company that used this scheme was 2013 - 2014

In 2018/2019 I have received several messages suggesting to pay part of the loan, in exchange for waiving the full amount. Several people, including my accountant advised that this was very likely either a scam or a message with no legal teeth.

As this comes suspiciously quickly after the HMRC letter, last week, I was wondering if any of you have received similar letters.

What would you advise as a response to this?

Is the best way forward to hire a solicitor?

Any advice or thoughts are very much appreciated!

[cojak]

Moderator note

These requests for help have suddenly started appearing, and to avoid replying multiple times to the same questions, I will be putting all new threads here (but leaving redirects so that people can still locate their posts).

HTH.

[webberg]

Hello @webberg, I have received this letter. How do I join the Big Group?

Be aware.

Big Group looks to resolve tax issues.

As a by product we do have many clients who have had these letters and we are thinking about our net step. It will be outside Big Group and therefore have a different fee structure.

[webberg]

What would you advise as a response to this?

Is the best way forward to hire a solicitor?

Any advice or thoughts are very much appreciated!

PLease see above.

We are looking at how we can help but that is going to be later this week.

By all means hire a solicitor. Be aware that this is specialist territory however so be careful who you pick or you'll be paying them to learn on the job.

[Scrogbank]

Me to

I got the letter this morning and am in the same position as Nervous Newbie having settled with HMRC some years ago.
Will be talking with solicitor later and will share anything relevant.
Cannot wait to see the advice later in the week!

[DealorNoDeal]

(helpfully, the letter includes contact details of the Samaritans).

How thoughtful of them.