HMRC settlement & writing off loans from Fernleigh / Ronsard/Rathowen

**zulucod** · 21 April 2021, 15:14

Hi Rob

Sorry to hear you’re ill but good to hear you are at the end of the road with this crap. So I can’t advice on this particular scheme but it might be worth considering is it even worth getting it written off and paying the IHT?

I am in a similar position where I am trying to settle and enquired about the IHT side of things. My umbrella at present don’t seem willing to write off my loans but they contactable and seem to think they are “HMRC compliant”. Anyways I called HMRC and they advised that if the loans can’t be written off then there is no IHT to pay at the point of settlement and the IHT and interest is only due at a point they write it off. The person I talked to at HMRC did seem a bit clueless but more so my scheme is newer than established and fully investigated schemes like your one. I would call HMRC and talk to someone and clarify what they advise in writing. Might also be worth discussing with WTT tax advisors.

I know it would be better to get all of this done with but I think pursuing these parasitic selfish companies can make you more unwell. I think the main HMRC settlement will be the main and biggest expense to deal with and move on from.

I hope you get it sorted it mate, stay motivated and it will all be thing of the past.

**hobbes21** · 21 April 2021, 17:52

Hi ,

Thanks for the reply.

The thing is I don't know how long I might keep going for....if in the case of good news I manage to see out the next 15 years then I really don't want to have something accruing for my wife or kids.

It was HMRC who advised me to get the loans written off within 90 days. (In writing)

It seems that almost everyone who went through Montpelier was channeled through Fernleigh, ronsard, rathowen.

I can't be the only person.

Thanks again

**DealorNoDeal** · 22 April 2021, 07:23

Looks like Montpelier are down the pan, and the authorities in the Isle of Man are going after Gittins.

http://www.iomtoday.co.im/article.cf...earchyear=2020

"The high court appointed a receiver and manager to Montpelier (Trust and Corporate) Services Ltd last October. Inspectors were also appointed to investigate the company’s affairs."

"The FSA alleged that the diversion of millions of pounds of client monies funded Mr Gittins’ lifestyle and that of his wife and children."

**piebaps** · 22 April 2021, 09:04

Originally posted by hobbes21 View Post

Hi,

I'm at the end of a long road (as everyone is) I can't fight anymore as I am ill, I need to finalise this whole sorry process and have reached a settlement with HMRC. They want me to sign but then raised the 90 days inheritance tax hurdle that following their acceptance of the agreement my trust must write off the loans within 90 days. My loans were with MontPelier and through the Ronsard/Rathowen/Fernleigh EBT.(which I mistakenly thought was dedicated to me) I've tried contacting them through the latest email addresses I've had (last contact was september 2020 before the deadline on 30th ) but despite numerous emails I've not had a response at all.

Has anyone managed to contact them recently, they are totally aware I have decided to settle (previously they kept in touch) can anyone offer any alternatives for contacting them or advice on the writing off process to comply with the IHT requirement.

many thanks in advance

Rob

ps I'm a brand new user to this forum. I've obviously read a lot of posts so far but without actually speaking to Montpelier I am stuck.

Morning Rob. Best of luck with your illness.

The Isle of Man FSA took action against Montpelier and the Court judgement is here. https://www.judgments.im/content/J2606.htm

As a result, a Manager was appointed. He is Gordon Wilson from a firm called CW Consulting (just google CW Consulting Isle of Man).

There was an appeal by Montpelier but they lost. The appeal judgement is here https://www.judgments.im/content/J2649.htm

Subsequently, the company was ordered to be wound up by the Court and a Liquidator was appointed https://www.iomfsa.im/fsa-news/2020/...ed-montpelier/

There has since been an argument between Montpelier and the IOMFSA about the ownership of certain companies one of which is Rathowen and the last event in the argument was an appeal which was dismissed https://www.judgments.im/content/J2796.htm

You mentioned Ronsard/Rathowen/Fernleigh EBT. You'll need to be a little clearer around the names, however a quick check at IOM Companies Registry should tell you that Ronsard is now dissolved and Rathowen currently has a registered office at Fernleigh House. I would therefore suggest you contact CW Consulting in the first instance. Finally, you referred to Fernleigh EBT. If this is a trust you will need to know the exact full name of the trust and the name of the trustee as its the Trustee you'll need to contact about your "loan". CW may know this, however there's no public record I can guide you to.

Good luck.

**anonymouse** · 22 April 2021, 10:12

Montpelier email addresses aren't used now either, that's why no response. Just some dodgy Hotmail accounts, apparently.

**Fred Bloggs** · 22 April 2021, 10:14

Originally posted by DealorNoDeal View Post

Looks like Montpelier are down the pan, and the authorities in the Isle of Man are going after Gittins.

http://www.iomtoday.co.im/article.cf...earchyear=2020

"The high court appointed a receiver and manager to Montpelier (Trust and Corporate) Services Ltd last October. Inspectors were also appointed to investigate the company’s affairs."

"The FSA alleged that the diversion of millions of pounds of client monies funded Mr Gittins’ lifestyle and that of his wife and children."

Oh dear.

**DealorNoDeal** · 22 April 2021, 10:22

Originally posted by piebaps View Post

You mentioned Ronsard/Rathowen/Fernleigh EBT. You'll need to be a little clearer around the names, however a quick check at IOM Companies Registry should tell you that Ronsard is now dissolved and Rathowen currently has a registered office at Fernleigh House. I would therefore suggest you contact CW Consulting in the first instance. Finally, you referred to Fernleigh EBT. If this is a trust you will need to know the exact full name of the trust and the name of the trustee as its the Trustee you'll need to contact about your "loan". CW may know this, however there's no public record I can guide you to.

Apparently, Ronsard was the trustee of the Fernleigh trust and the directors were Gittins and his wife.

**piebaps** · 22 April 2021, 12:05

Originally posted by DealorNoDeal View Post

Apparently, Ronsard was the trustee of the Fernleigh trust and the directors were Gittins and his wife.

Ronsard no longer exists. It was dissolved on 04.04.2018 according to the IOM companies Registry. If the trust still exists it must have a new trustee.

**eek** · 22 April 2021, 12:55

Originally posted by DealorNoDeal View Post

Looks like Montpelier are down the pan, and the authorities in the Isle of Man are going after Gittins.

http://www.iomtoday.co.im/article.cf...earchyear=2020

"The high court appointed a receiver and manager to Montpelier (Trust and Corporate) Services Ltd last October. Inspectors were also appointed to investigate the company’s affairs."

"The FSA alleged that the diversion of millions of pounds of client monies funded Mr Gittins’ lifestyle and that of his wife and children."

What a shame - I’m completely and utterly heartbroken by that news

HMRC settlement & writing off loans from Fernleigh / Ronsard/Rathowen