Things about to get very serious and much more real? / Felicitas Letters

[cojak]

I tested and tested this with K2 and was assured that the trust would never ever do anything that was not in the best interest of the employees and that legally they couldn't.. I am still to be convinced that recalling a loan (that has now been taxed as income) is in my best interest...

I'll never ever pay in any circumstance, the attempts to recall the "loans" are a shakedown and a scam.

Were you assured in writing at the time?

[Fred Bloggs]

I tested and tested this with K2 and was assured that the trust would never ever do anything that was not in the best interest of the employees and that legally they couldn't.. I am still to be convinced that recalling a loan (that has now been taxed as income) is in my best interest...

I'll never ever pay in any circumstance, the attempts to recall the "loans" are a shakedown and a scam.

I agree regarding the action of the trustees. I really cannot understand how trustees can legally act like they apparently have with respect to selling loan books.

Was it ever more than sales pitch though? Did you have this stated clearly in writing? The typical sales pitch was "you don't pay tax on loans, these are only made to look like loans for tax purposes, they aren't really loans, you'll never have to pay them back etc.....". But it was all verbal bullsh!t.

[Wtaf]

Is this the end?

I haven't been here for a while but have been lurking! I didn't receive the email on the 3rd/4th, have never logged into their portal and stopped checking my spam. But I have (Eeks advice) emailed a dispute to the SD. If they don't respond and after this monumental feck up, will this mean that's the end to this stressful nonsense from them?

[DavidD]

Were you assured in writing at the time?

I was indeed assured in writing, can I prove it is the question I think you're asking. The written words were on a webinar that I know was formally disclosed to HMRC.

It was clearly laid out to me - two key risks i. I may have to pay the tax or ii. the loan may be recalled (but because it was in a EBT that recall of the loan would have to be in my best interest). These risks are mutually exclusive - One of the risks materialised and I will duly pay my tax.

So the only thing I'd like to see in writing is why the recalling of the loans is in my best interest.........

[eek]

I was indeed assured in writing, can I prove it is the question I think you're asking. The written words were on a webinar that I know was formally disclosed to HMRC.

It was clearly laid out to me - two key risks i. I may have to pay the tax or ii. the loan may be recalled (but because it was in a EBT that recall of the loan would have to be in my best interest). These risks are mutually exclusive - One of the risks materialised and I will duly pay my tax.

So the only thing I'd like to see in writing is why the recalling of the loans is in my best interest.........

I don't think those risks are mutually exclusive no matter what they said at the time.

[jxtractor]

I'm afraid Fecilitas have started issuing Statuayory Demands, I received one back at the begining of the year which I am currently going through the courts with and have started proceedings to get it set aside. The initial stages have happened and a judge at the local county court has reviewed my evidence and a hearing date for August has been set for the case. If anybody else receives on of these demands my advice is to seek professional help immediatly DO NOT DELAY.

This is the first I've heard of the matter being set before a judge! I read that Felicitas did withdraw the statutory demand once challenged. Which county court is this and do you have a solicitor? What is his / her advice?

My dilemma is that challenging this before a judge and taking up legal services will cost me more than this 5% offer (whether it's even legitimate or not or even legally binding).

[jxtractor]

How many people have been impacted?

I wanted to start a Gov petition, but to get a response from government, you need to attain at least 10,000 signatures (100k to have the matter considered for debate).

I was wondering if that would be effective or to instead start a campaign to write MPs to call this matter to be discussed in parliament.

Does anyone know how many people are actually impacted by the LC and companies like Felicitas recalling loans?

[Fred Bloggs]

I was indeed assured in writing, can I prove it is the question I think you're asking. The written words were on a webinar that I know was formally disclosed to HMRC.

It was clearly laid out to me - two key risks i. I may have to pay the tax or ii. the loan may be recalled (but because it was in a EBT that recall of the loan would have to be in my best interest). These risks are mutually exclusive - One of the risks materialised and I will duly pay my tax.

So the only thing I'd like to see in writing is why the recalling of the loans is in my best interest.........

My emphasis. That's the elephant in the room I have referred to several times but nobody can explain. It completely flies in the face of how the trusts, trustees and beneficiaries relationships are supposed to work. I am also at a loss that nobody can explain why this angle hasn't been used to disarm the various claims about loans bring sold to third parties. (Maybe it has but it's not in the public domain?)

[dammit chloe]

I wanted to start a Gov petition, but to get a response from government, you need to attain at least 10,000 signatures (100k to have the matter considered for debate).

I was wondering if that would be effective or to instead start a campaign to write MPs to call this matter to be discussed in parliament.

Does anyone know how many people are actually impacted by the LC and companies like Felicitas recalling loans?

There have been many attempts. IMV These petitions are window dressing. Even if they get a lot of sigs it makes no difference and LC petitions get very few sigs. Not worth wasting time on.

Help out at LCAG if you want to make a difference.

[BrilloPad]

There have been many attempts. IMV These petitions are window dressing. Even if they get a lot of sigs it makes no difference and LC petitions get very few sigs. Not worth wasting time on.

Help out at LCAG if you want to make a difference.

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