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

[MrsB1974]

Hi Mrs B. Did you get a response from Saleos?

Yes - he asked for my email address and offered to send me the details. I haven't as yet

[Rab]

He doesn't have to prove anything, and I would advise that he doesn't just to satisfy other's prurient nosiness.

Please stay on-topic or I will delete all non-relevant posts.

Just to clear this up then, I'm not a contractor and this was for a one-off payment.

[Boobetty]

Thanks, that clears it up no end

[neil99]

Would love to fight but there don't seem to be any groups defending ASIOM so we would have to hire our own counsel which could run into six figures. As for waiting to see what happens to other EBTs, I don't think that strategy will work. Sure, HMRC issue FNs for schemes that are similar to the ones they beat but I doubt it will work the other way. I can't see HMRC saying to ASOIM members "here's your money back because we lost to a similar scheme to yours". They will hang on to APN cash for dear life and we will have to prise it out of their lifeless hands at tribunal. And it will take years.

There is a group defending ASIOM . PM me for details. I've been in touch and the've been very helpful. They can help with settlement if you decide to go down that route.

[neil99]

Yes - he asked for my email address and offered to send me the details. I haven't as yet

You will. Ask to get access to the group FAQs and updates . PM me for details if you've not already got them.

[neil99]

Just received my final calculation for settlement and they've decided that IHT is *not* applicable.

They've enclosed a form where you say yes / no whether you agree with their calculation, and you have to give an indication of how long you need to pay (30 days, 90 days, longer than 90 days).

I've chased the tax advisor (who initially said to pay up) to try and get some answers to my questions but I'm not holding out much hope.

What's the general feeling fellow ASIOMers? Will you settle or fight?

I'm going to ask for settlement figures and then see. Best to balance up all the options. If APNs come into play life is going to get tricky.

If I could pay of over two years then I might be very tempted to settle.

Roughly what percentage of loans is the IHT charge ? I'm thinking about 10%. Is the final 'bill' about 50% of the loan amount ? OR less?

[neil99]

Lady Penelope contacted Saleos and sent in her info. From memory it took them a while to get back to her and when they did they wanted £500 upfront but without much detail of what she'd get for that.

I've just pm'd Saleos to see where they're up to with things. Thanks for the reminder StrengthInNumbers.

I joined the group too - if anyone else wants to then get a move on. IT will be closed early March because they are getting the ball rolling with HMRC.

[EBTContractor]

Roughly what percentage of loans is the IHT charge ? I'm thinking about 10%. Is the final 'bill' about 50% of the loan amount ? OR less?

if loans were from overseas then no NI. And from what I've heard no IHT either.

Your percentage of the loan amount depends on how far into the next tax bracket it'll push you.

For some it's 'just' 35%, others a lot more as their loan amounts were astronomical.

[SimonJones]

IHT

if loans were from overseas then no NI. And from what I've heard no IHT either.

Your percentage of the loan amount depends on how far into the next tax bracket it'll push you.

For some it's 'just' 35%, others a lot more as their loan amounts were astronomical.

So if the loans are from IOM, than does this mean no IHT?

[neil99]

So if the loans are from IOM, than does this mean no IHT?

It will include IHT. I am getting my calculations done. Checked up about this.