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

[varunksingh]

HMRC have all the time in world to come back to you on this.

[Suet]

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

I also received an HMRC letter this weekend regarding my membership of this scheme 2005-2007, encouraging me to settle.

HMRC first wrote to me in January 2008, telling me they were investigating my 2005-2006 tax return because of the use of this scheme. When I phoned them, they said I could settle, but as they weren't sure whether or when they would investigate the scheme, I left it. Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS/ Tenon told me verbally it would be fine.

I am unsure how to proceed. I would be very happy to try and help set up a group to fight this if it's worth fighting. At the very least, if I could be pointed in the direction of good advice I would be very grateful.....
I assume I may as well frighten myself with the correct figure, by filling a DO3 form?

[Boobetty]

I also received an HMRC letter this weekend regarding my membership of this scheme 2005-2007, encouraging me to settle.

HMRC first wrote to me in January 2008, telling me they were investigating my 2005-2006 tax return because of the use of this scheme. When I phoned them, they said I could settle, but as they weren't sure whether or when they would investigate the scheme, I left it. Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS/ Tenon told me verbally it would be fine.

I am unsure how to proceed. I would be very happy to try and help set up a group to fight this if it's worth fighting. At the very least, if I could be pointed in the direction of good advice I would be very grateful.....
I assume I may as well frighten myself with the correct figure, by filling a DO3 form?

Why bother with the D03? If you know what you got as loans apply about 37% for tax and add 3% a year for interest and you'll be close.

[dilbert_99]

er hold up didn't hmrc just lose the glasgow rangers case?

Hi

Didn't hmrc just lose the glasgow rangers case where they defined in english law that an ebt is a loan and not taxable... surely that must count for something right?

Doesn't anyone else feel these tax settlement letters seem like a desperate attempt to instill panic and get everyone to pay up without a fight - they can't take everyone who's been on an ebt to court.

what we all need is some moral support from the likes of david cameron and georgey osborne - are we forgetting those pair have a history of offshore schemes and making a damn site more money out of them than probably all of us put together - David Cameron's family fortune 'made through tax-dodging offshore investment funds' | Mail Online

I had a look at the boyle case notes and that was a very complicated scheme (complicated to me anyway) involving some very tricky manipulation of currencies, not what I would expect from a normal run of the mill ebt scheme.

It's just psychological games to them and remember when you're sitting in your hot tub smoking a cigar or driving your range rover most of the hmrc accountants live in sh1ty houses and haven't got a pot to p..ss in!

This was an interesting read - possibly maybe almost certainly biased but interesting Offshore Umbrella Companies for UK Contractors | Isle of Man guide

[Suet]

Tenon

Does anyone else want to get together on this, and come up with a strategy for challenging Tenon, who helped run it?

[Suet]

Assignment Solutions IOM

PM rights please?

I used this scheme and would be interested if anyone wants to form a group to challenge HMRC's actions or Tenon who administered the scheme.

[cojak]

PM rights please?

I used this scheme and would be interested if anyone wants to form a group to challenge HMRC's actions or Tenon who administered the scheme.

I've copied this post to the appropriate thread. Someone with the relevant information might have subscribed to it.

[chobecat]

C03

Why bother with the D03? If you know what you got as loans apply about 37% for tax and add 3% a year for interest and you'll be close.

Hi Boobetty,

Can I ask how you come to the 37% figure ? if this just for all loans in one tax year ?

Cheers,

[Boobetty]

Hi Boobetty,

Can I ask how you come to the 37% figure ? if this just for all loans in one tax year ?

Cheers,

Hi, yes it's just a ballpark % for loans totalling, say, £75k a year.
Cheers,

[Boobetty]

PM rights for me too please.