HMRC Letter - Compliance Check Re Disguised Remuneration Loans

[eazy]

I received a letter today from HMRC sent under section 9A.

"We are checking your return to see whether it should have included information about disguised remuneration loans. Our records indicate that it should have. Please check your records from 9 December 2010 to 5 April 2019."

I have never been part of any loan schemes, always operated a Ltd company with Salary & dividends. Is there a standard approach to respond to these queries?

Thanks in advance for any advice.

[ladymuck]

Do you have tax investigation insurance with the likes of Qdos / IPSE or others?

Don't reply before you've spoken to them. Then provide them with all the information they ask for and they will respond on your behalf.

If not, then people will be along soon with tips, I'm sure.

[Paralytic]

Have you ever worked via an Umbrella? Do you have all payslips that show all Tax/NI as being paid or was there anything "funny" with the payslip (eg, split into some core payment and some other payment)?

[eazy]

Ltd Co Only

I have never used an umbrella company - Always a Ltd Co with an accountant. I have IPSE+ membership, will call them tomorrow.

[Paralytic]

I have never used an umbrella company - Always a Ltd Co with an accountant. I have IPSE+ membership, will call them tomorrow.

Good to hear. Did you ever have any interactions with an Umbrella (eg, get an illustrative quote)? I seem to recall in the past another person ended up on a list of "scheme users" that a dodgy Umbrella provided to HMRC because they were on their database after a query, even though they'd never signed up.

[eazy]

illustrative quote

Yes - My accountants are owned by Knox group - They tried to persuade us to use these loan schemes, did go to their presentation but did not sign up and carried on working through the Ltd company.

[LondonManc]

Yes - My accountants are owned by Knox group - They tried to persuade us to use these loan schemes, did go to their presentation but did not sign up and carried on working through the Ltd company.

I'd tell HMRC exactly that - that you went to the presentation, heard the word scheme and ran a mile. Then casually ask why they take so long to pursue them.

[malvolio]

I'd tell HMRC exactly that - that you went to the presentation, heard the word scheme and ran a mile. Then casually ask why they take so long to pursue them.

Agreed, but don't say anything until you've spoken to IPSE and got the case running. It's far to easy to dig your own hole unless you follow professional advice.

[ladymuck]

Agreed, but don't say anything until you've spoken to IPSE and got the case running. It's far to easy to dig your own hole unless you follow professional advice.

^^ absolutely this

Tell it all to whoever is running the IPSE insurance and they will sort it

[piebaps]

Yes - My accountants are owned by Knox group - T

That sets off my alarm bells. Tread carefully and good luck.