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

[nazar]

APS Interest

Sorry to sound a little sceptical but is it a fact that APS includes no interest. Aslo, how is interest calculated? so if we are looking at an ammount from 2006/2007 to date, then what percentage would be the interest (if anyone can reverse calculate this)?

[neil99]

Thanks for the advice re calling rather than filling-in the form MrsB. Still gathering info on whether I take the SO or wait and see re APN, etc. I have not joined any group, etc as yet, but am finding lots of posts in this thread and others from those in a similar position.

You're not alone. Had the revenue actually sent me those letters re assessment I'd probably have put the money I might have to pay into a savings account and left it there. No correspondence from them about the schemes I was in that actually arrived in my letter box. Nada. Nothing on my self-assessment portal. I guess I was lulled into a false sense of security.

[DonkeyRhubarb]

Sorry to sound a little sceptical but is it a fact that APS includes no interest. Aslo, how is interest calculated? so if we are looking at an ammount from 2006/2007 to date, then what percentage would be the interest (if anyone can reverse calculate this)?

Absolutely 100% certain that there is no interest with APNs.

For 2006/7, you are looking at around 30% interest.

In other words if the tax was £20k, there would be another £6k in interest. Total - £26k.

[nazar]

Absolutely 100% certain that there is no interest with APNs.

For 2006/7, you are looking at around 30% interest.

In other words if the tax was £20k, there would be another £6k in interest. Total - £26k.

So what is the annual percentage? For 2006/2007 I have end Jan 2008 (self assessment deadline) to end Jan 2015 as 7 years (compound).

[DonkeyRhubarb]

So what is the annual percentage? For 2006/2007 I have end Jan 2008 (self assessment deadline) to end Jan 2015 as 7 years (compound).

Late payment interest has changed over the years. In Jan 2008 it was 7.5% p.a. Currently it is 3%.

The interest is "simple", not compound.

https://www.gov.uk/government/public...interest-rates

[EBTContractor]

Dispute APN?

Then have the courts decide?

[nazar]

Late payment interest has changed over the years. In Jan 2008 it was 7.5% p.a. Currently it is 3%.

The interest is "simple", not compound.

https://www.gov.uk/government/public...interest-rates

Is this tool accurate?
https://debtguard.co.uk/CMS/Home/Ind...live?MenuId=70

[nazar]

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.

How can I pm you? i don't seem have the ability to do (new to this)

[neil99]

How can I pm you? i don't seem have the ability to do (new to this)

Go back a few pages in this thread. Look for a post by Salios and follow the instructions.

[neil99]

How can I pm you? i don't seem have the ability to do (new to this)

From Salios -

Assignment Solutions (ASIOM) EBT Loan scheme - SUPPORT
You are not alone!

A great deal of work is and has been done to support contractors in other very similar arrangements and those doing that work, myself included, are willing to share the benefit of it with those formerly employed by Assignment Solutions. This has not previously been available to former ASIOM employees because we have had no way of identifying or contacting you (for reasons that shall be apparent if you follow the instructions below).

If you received loans from ASIOM and have either an open enquiry or discovery assessment from HMRC in respect of those years please send an email [email protected] providing your full name and address, loans received and the tax years under enquiry or assessment and arrangements will be made to give you access to a secure website containing a large amount of advice and information on the issue and your options. That includes either the current Settlement Opportunity or litigation, for which arrangements are being made.

Simply posting here or DM'ing me will not get you that help.

There will be no cost to you for being given access to that advice and information.

If you have no open enquiry (typically opened under s9A TMA 1970) or discovery assessment you can relax. HMRC cannot now assess or collect income tax in respect of loans made by the ASIOM EBT. They are out of time to do so.