Hmrc disguised remuneration loans information required!

[taxed]

They'll probably tell you loads positive eg. they're confident the scheme is fully compliant with the law, it was approved by tax counsel and HMRC have got it wrong.

We've heard all that before over the past 20 years, and not once has a scheme succeeded. Not a single one of these schemes has ever stood up in court.

All these schemes have ever done is cause misery and hardship for tens of thousands of people.

Thanks again. And would such a reply from the umbrella help to show that they misled me though and also show that I didn't deliberately try and defraud hmrc?. I am aware that I would have to pay and I would not argue with hmrc. Also as the umbrella is still functioning as far as I am aware, would all this go in my favour to some extent? Just can't understand how the umbrella is still functioning now, and yet its classed as running an illegal scheme. For those who were affected by these schemes in the past, am I right to assume that by the time it all kicked off the schemes had shut?

[cojak]

Quite often, yes.

[Tax-Avoidance Scheme] Umbrella in Liquidation
https://forums.contractoruk.com/hmrc...quidation.html

[DealorNoDeal]

...show that I didn't deliberately try and defraud hmrc?

HMRC already know that. They've seen so many of these schemes over the past 20 years, and the pattern is always the same.

That's why they only go back 4 tax years.

All they want is that you pay the taxes you should have done.

[Chevalier]

A final thought - when trying to settle do be cautious about how you answer HMRCs questions.

Some information the investigation officer will have a definite need for (eg value of the loans etc) , but other questions will be an invitation to self incriminate - which may lead to higher penalties.

The article below from ETC tax gives more detail

https://www.etctax.co.uk/blog-news/i...investigation/

[taxed]

A final thought - when trying to settle do be cautious about how you answer HMRCs questions.

Some information the investigation officer will have a definite need for (eg value of the loans etc) , but other questions will be an invitation to self incriminate - which may lead to higher penalties.

The article below from ETC tax gives more detail

https://www.etctax.co.uk/blog-news/i...investigation/

Hi thanks very much for this.

[Jumper]

No disclosure as to who the umbrella is as of yet? Did they provide a response by their Friday deadline, would be interested to know what they responded with.

[eek]

No disclosure as to who the umbrella is as of yet? Did they provide a response by their Friday deadline, would be interested to know what they responded with.

+1 - I also know that Chris Bryce would very much like to know who the umbrella is just in case it's an FCSA member (I seriously doubt it is).

[Jumper]

It’s all gone very quiet on here. Also a little disappointed that those in denial in the group haven’t joined to at least enquire further and make their own informed decisions.

I personally wish I had as much help from a forum at the time that I needed it.

[cojak]

Who knows why?

Maybe the OP has been ‘got at’.

[BedouinLoans]

Hi all,

First time poster here, and hijacking this post as its been pretty useful. Hoping for a bit of direct guidance here from you knowledgable people....

I was a contractor in the oil and gas industrtu from 2013 until 2021. Started off on a nice little rate and as the price of oil decreased, things went a bit south - rates decreased etc.

At the same time I was a bit niave on my tax obligations and wasnt putting money aside at the time, culminating in a struggle to repay tax each year and effectively living hand to mouth despite still earning some decent wage. I stopped contracting and am trying to close the company out now - i am due a rebate of £8,500 for self assessment paid to date, but also have a corp tax bill of 12500 as well as accounts fees etc taking things to £16000. So with my savings and the rebate i can just about get by on my liabilities. I do however have no spare income, and house prices have crashed so cant even sell in order to get some money to start again.

Here's where i am going with this....

In 2014 i signed up to Bedouin knowing it was a tax efficiency scheme, but not realising it was classed as avoidance as there was no rulings at the time to suggest it was unlawful, and i convinced myself at the time they wouldnt be able to RETROSEPCTIVELY enforce any changes!!) How unethical is that?
I digress... i continued for a few months before I wised up and realised the implcations - i think i used them for 4 or 5 months which could equal roughly £75,000 gross.

I have had a letter last year and the same again this year stating that they suspect i was part of tax avoidance and to call them. Today i have given them a call and they asked me to send in bank statements from 2014 to calculate the tax liability - which i have now requested from the bank.

From what i am reading here it sounds like they dont generally go back past 4 years? Any advice on how to proceed? I dont want to bury my head in the sand but i also have no money to pay for any liabilities now which i suppose would be around £26k + fees + interest?

**gulp**