AM Limited COP8 HMRC Investigation Letter..

[DonkeyRhubarb]

One lesson PCG has learned is to get involved at the consultation stage, before things hit the floor, and aim to affect the drafting. HMG are very unlikely to change the final product even before it goes to Parliament for approval.

Yes, we're doing that as well, but as a single detailed response not en masse.

Hopefully the CIOT, ICAEW etc will also raise concerns. It's better coming from them than a bunch of "tax dodgers".

[TheyCalledMeMrDennis]

New Here Just Contacted AM Still the give the same advice

Hi. Just registered, got one of these,then a statement, now a demand stating they'll send the boys round if I don't pay. AM appealed when I first got the demand, still have not heard anything from HMRC, just the demands.
Contacted AM a couple of times over this and they say that they have had hundreds of calls over this. They have called the HMRC and they always say that these are crossover letters and eventually the appeal will be registered. They are about 6 - 8 weeks behind, but you will get one and the amount will be reduced to zero while under appeal. They have also said that when the appeal letter is sent, your file will be marked that something has been received - though the appeal has not been officially registered - and you should not get visits.

Anyone else had any other experience over this?

[lfcynwa]

Hi. Just registered, got one of these,then a statement, now a demand stating they'll send the boys round if I don't pay. AM appealed when I first got the demand, still have not heard anything from HMRC, just the demands.
Contacted AM a couple of times over this and they say that they have had hundreds of calls over this. They have called the HMRC and they always say that these are crossover letters and eventually the appeal will be registered. They are about 6 - 8 weeks behind, but you will get one and the amount will be reduced to zero while under appeal. They have also said that when the appeal letter is sent, your file will be marked that something has been received - though the appeal has not been officially registered - and you should not get visits.

Anyone else had any other experience over this?

Just received letter for 09-10 10-11, AML have appealed not had anything else yet..

[ads1980]

Well I have now received my full set of letters. Yesterday the 2009-2010 one turned up. Ihave just contacted AM Limited about this.

[DonkeyRhubarb]

Template letter for responding to HMRC consultation

NTRT have prepared a template letter for people to respond to the consultation. Please alter it in your own words.

Latest News | No To Retrospective Taxation

Some people will say it won't count if everyone sends similar letters but HMRC will have to report to the Minister how many responses they got. So every letter does count.

[ads1980]

Done. Thanks DonkeyRhubarb

[plokij]

oh dear...

I dabbled with AML for 4 months starting august 2011 at the end of a contract as I'd closed my company down but stopped as decided it wasn't for me.

I haven't received anything yet, but sounds like I should expect something.

To those with more of a grasp on how these things work: so that I can put aside something to plan for the worst, how would I go about working out a very rough ballpark figure of what I would be liable for if it came to that? I guess as a percentage of the gross contract rate?

Cheers for any help

[Christop]

New

Hi,

I have been a member of AM for 3 years now and am now very worried, I did have a challenge from HMRC (9a) last year where they requested the additional information which AML dealt with, for years 10/11 in December 2012. I authorised them to act on my behalf and have heard nothing back since from HMRC, AML basically said they were fishing and this was normal. have received no other challenges since but fear it is now only a matter of time

[DonkeyRhubarb]

If I was to have earnt 108k for 3 years and only paid tax on minimum wage what kind of bill would I be potentially looking at?

Around £120k in tax/nic (£40k/year). Plus there would be a bit of interest on top for late payment.

Notes
1) I've assumed the 108k was net income after the scheme provider had deducted their fees.
2) I've assumed that being on minimum wage, you have paid virtually nothing in tax/nic to date.
3) The above doesn't include employers nic. If HMRC were to transfer the liability to the employees then it would add about another £15k (£5k/year).

You can use this calculator to work it out.
http://www.listentotaxman.com

[Christop]

AML

Ok, had a chat with a lady in AML and she gave me the following information

I am in a PBT scheme
We are not Dotas as we are self employed so should not be under the immediate spotlight

If the new bill passes I guess they will get around to us but who knows when, not quite sure how to take this within the bigger picture.