EBT HELL: Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS

[cojak]

Can we keep this on-topic please? There is another thread to chew the cud over EBT's, the OP wants help with a specific issue.

[FTTM]

Sorry , I didn't realise my comments would be taken so literally. Cascade categorically state it is nothing to do with them. DMS has been wound up according to Co. house. I have called Premier Strategies ( Tenon) several times and have been advised that a) the person who dealt with said scheme has left. b) They no longer support the scheme. Subsequent calls are yet to be retuned , I presume because they are busy , possibly washing their hands.

No matter , luckily most of the individuals involved are accountants and are pretty easy to track down via their designated professional body.

Im sure they will contact me shortly to fulfil their duty of care, after all it would be pretty bad form leaving a client facing a COP8 into a scheme they advised and received professional fees on , without an update for 3 years.

[cojak]

I've deleted all posts not relevant to the OP's question.

Don't hijack this thread you're covering old ground guys. Comment in one of ones previously started.

[bigguy]

FTTM - was wondering whether have you made any progress on this. Would be interested in comparing notes - not that I have many at this stage.

[Rab]

..because the nice man who sold me the scheme stressed that in the remote possibility that I should ever by audited by HMRC that I would be fully covered by their tax defence , I would just like to take him up on his offer, If only he would return my calls!!

Did you get anywhere with this? Last year Premier & Tenon effectively advised me to pay up, as I wouldn't have a hope of winning against HMRC on any points.

Since then Premier have ceased trading, but their parent company Tenon are still there. Neither company seem interested in spending any of 'their' money fighting this in court.

[FTTM]

Did you get anywhere with this? Last year Premier & Tenon effectively advised me to pay up, as I wouldn't have a hope of winning against HMRC on any points.

Since then Premier have ceased trading, but their parent company Tenon are still there. Neither company seem interested in spending any of 'their' money fighting this in court.

No heard absolutely nothing. I wonder where we would stand taking them to court?

[eek]

No heard absolutely nothing. I wonder where we would stand taking them to court?

I imagine you will waste cash on lawyers fees only to find they don't have enough assets to cover your legal costs let alone your tax.

[FTTM]

Just checked their share price on the London Stock Exchange, they're still there OK.

Not anymore theyre not!!

Not one contact i have approached have offered any form of help. I find it amazing that with 1000s of people potentially looking at losing their homes and lively hoods no one involved in these schemes feels morally obliged to help the people that no doubt provided them with a very comfortable living.
Im happy for anyone involved in said scheme to proof me wrong and PM me.

[TykeMerc]

Not anymore theyre not!!

Not one contact i have approached have offered any form of help. I find it amazing that with 1000s of people potentially looking at losing their homes and lively hoods no one involved in these schemes feels morally obliged to help the people that no doubt provided them with a very comfortable living.
Im happy for anyone involved in said scheme to proof me wrong and PM m

Trying not to sound negative as I was not and never will be a scheme user and i always considered EBT's to be well past my personal risk threshold, in business moral obligation is a tad limited.

In the documentation that I saw when I looked at some of the schemes (which led to my risk aversion) there were no guarantees or risk indemnities that I could see (maybe there were in some schemes) and there was mention of tax planning being the responsibility of the tax payer.
From what I could see while the scheme providers contracted to offer "tax planning advice" it was clear that the returns were at the taxpayers risk.
Most of the schemes were based on a view from a QC, I'm not personally aware of any based on anything other than an un-guaranteed opinion.

I took the view that things looked far too good to be true and that turns out to be the case, I actively wish that I had been wrong on that despite not being bitten personally by it

[cojak]

Flipping heck! This has been dragged from the depths!

I thought all schemes had turned up but no, they still appear.

I'll move this thread to the HMRC Enquiries forum, alongside all the others.