HMRC Enquiry letters on Loans from EBT and other schemes

[dr203]

Enquiry Letter

Hi Guys
I received an enquiry letter from HMRC. I was with Whitecollar and now they are asking for lots of information around 50 questions on the document. Does anyone have a template they have used to reply to HMRC?
Id really appreciate it

[webberg]

Hi Guys
I received an enquiry letter from HMRC. I was with Whitecollar and now they are asking for lots of information around 50 questions on the document. Does anyone have a template they have used to reply to HMRC?
Id really appreciate it

I very much doubt that any here will have such a template or would be willing to share it if they did.

I suggest that you start with White Collar - I understand that they can still be found via a Google search - and if you are unhappy after that, to find yourself some professional advice.

[CDJ]

Hi Guys
I received an enquiry letter from HMRC. I was with Whitecollar and now they are asking for lots of information around 50 questions on the document. Does anyone have a template they have used to reply to HMRC?
Id really appreciate it

Would echo Webberg - you need to look at getting some professional help. I was also through WC and most of us on the EBT scheme settled (using a professional tax advisory to negotiate with HMRC) under CLSO1, the rest (those that didn't want to settle at that point and those in post EBT schemes) largely went into "Big Group".

From memory WC were flogging their own "advisor" (I certainly received a call late 2015), which wasn't very cheap (although to be fair to them, I think it was free if you were still a client) and I was very unsure as to how "independent" they were - at that time however, I had already settled, so I don't have much detail..

See if WC are still going (I suspect WC has been dissolved though), and if they are, see what they are offering in terms of help - but be wary - there are a few conmen floating about with wonder "schemes" that circumvent the 2019 loan charge (which should be your primary concern at this point) and its definitely in the MO of these companies to keep trying to suck you in.

Personally, I'd PM Webberg and look to join Big Group (or failing that, find a respected Tax Advisory)

[RJJ85]

Hi CDJ

How successful were you with negotiating with HMRC under CLSO1? Did you manage to get a good deal?

Could you throw some numbers or in percentage & share your experience.

I am currently planning to settle with HMRC but their demand is fully taxable on all the loan amount which exceeds more than 50K.

Thanks

Would echo Webberg - you need to look at getting some professional help. I was also through WC and most of us on the EBT scheme settled (using a professional tax advisory to negotiate with HMRC) under CLSO1, the rest (those that didn't want to settle at that point and those in post EBT schemes) largely went into "Big Group".

From memory WC were flogging their own "advisor" (I certainly received a call late 2015), which wasn't very cheap (although to be fair to them, I think it was free if you were still a client) and I was very unsure as to how "independent" they were - at that time however, I had already settled, so I don't have much detail..

See if WC are still going (I suspect WC has been dissolved though), and if they are, see what they are offering in terms of help - but be wary - there are a few conmen floating about with wonder "schemes" that circumvent the 2019 loan charge (which should be your primary concern at this point) and its definitely in the MO of these companies to keep trying to suck you in.

Personally, I'd PM Webberg and look to join Big Group (or failing that, find a respected Tax Advisory)

[CDJ]

Hi CDJ

How successful were you with negotiating with HMRC under CLSO1? Did you manage to get a good deal?

Could you throw some numbers or in percentage & share your experience.

I am currently planning to settle with HMRC but their demand is fully taxable on all the loan amount which exceeds more than 50K.

Thanks

we didn't get a "deal" under CLSO1.. we paid full tax on the loans (but no NIs), but the Settlement allowed closed years (ie those that were not statutory open to enquiry) to be forgiven.. I personally didn't benefit from that as I had an open enquiry (either COP8 or DA) for every year I used the scheme, but I know that some people did.. Unfortunately for CLSO2, this doesn't appear to be an option.

[ConfusedEasily]

we didn't get a "deal" under CLSO1.. we paid full tax on the loans (but no NIs), but the Settlement allowed closed years (ie those that were not statutory open to enquiry) to be forgiven.. I personally didn't benefit from that as I had an open enquiry (either COP8 or DA) for every year I used the scheme, but I know that some people did.. Unfortunately for CLSO2, this doesn't appear to be an option.

Just out of interest did you negotiate a reasonable TTP?

[RJJ85]

Just out of interest did you negotiate a reasonable TTP?

I have a fair amount of tax to pay and looking for options on how to negotiate TTP. I want to avoid remortgage and loan options from bank.

Has anybody any experience?

[ConfusedEasily]

I have a fair amount of tax to pay and looking for options on how to negotiate TTP. I want to avoid remortgage and loan options from bank.

Has anybody any experience?

I think HMRC (DMB) would be looking for you to remortgage/sell your house.

It's unfair, as they're probably asking you for several years worth of tax in one go, but fairness isn't playing a part in this.

If anyone HAS reasonable terms on TTP, please post here.

[webberg]

I think HMRC (DMB) would be looking for you to remortgage/sell your house.

It's unfair, as they're probably asking you for several years worth of tax in one go, but fairness isn't playing a part in this.

If anyone HAS reasonable terms on TTP, please post here.

I have never heard of DMB asking for or forcing a remortgage or sale of domestic property. To the best of my knowledge this is beyond their power.

This is a very specialist area and you need advice.

[CDJ]

Just out of interest did you negotiate a reasonable TTP?

I had to pay the full Tax bill up front and then got to pay the interest on a monthly Direct Debit over 12 months.. to be fair though, I didn't really push back hard to get better/longer.. at the time I just wanted it done..