HMRC Enquiry letters on Loans from EBT and other schemes

[bonetired]

This seems to be the most (if only) active thread on the internet about those that have "got the letter" - but given the amount of people who should be effected by this (and have or should be receiving a letter) there only seems a relative few who are discussing? does that mean

a) There are more lurkers than talkers
b) HMRC have only sent the letter to a very limited number of people (< 200) and seeing what steps we take?

Call me paranoid...but if I was playing HMRC's hand I would consider playing a few hands to test the opposition,how will we react? will we appeal? on what basis? because if they sent to everyone effected (which by some estimations is LOT of people) and everyone appealed at the same time they would surely not have the manpower to "reply" to the appeals? If however they could get a grip on the appeals before releasing to the masses then they could have the standard replies and gear themselves up to it....

Just a thought (and I have no prior experience in this matter at all) but am starting to wonder if Hector is playing a game here?

Thoughts...?

I received the initial letter from HMRC asking me about my involvement in Edge. I replied with a fairly anodyne letter that was suggested to me by Edge. As yet I haven't received the 2008/2009 letter but I have been in touch with Michael Perry who is pretty certain that the letter is on its way. I hope he is wrong but I suspect that he is right. As I said in my initial posting Edge have ceased trading (wonder why?) but have resurrected themselves as Redstone Services. This last development deep concerns me and I am wondering if they are just washing their hands of us.

[mrs t]

I am very confused about what to do next. 30 days to appeal, so an appeal seems the best next step. I am then thinking, should I get legal advice from a specialist Tax Lawyer, or a specialist Accountant firm who specialise in dealing with tax issues with HMRC. I know Edge, said they took advice from a certain firm of accountants when setting their scheme up, maybe I should speak to that firm. I can just imagine the conversation going the way of 'we here at.....never had discussions with that company, etc etc', and here is a very large invoice for having a chat with us.
I have found my signed contract with Edge Consulting Limited, so it sort of makes sense to get legal advice regarding its validity. Anybody agree, or am I way off with my thinking.

[bonetired]

I am very confused about what to do next. 30 days to appeal, so an appeal seems the best next step. I am then thinking, should I get legal advice from a specialist Tax Lawyer, or a specialist Accountant firm who specialise in dealing with tax issues with HMRC. I know Edge, said they took advice from a certain firm of accountants when setting their scheme up, maybe I should speak to that firm. I can just imagine the conversation going the way of 'we here at.....never had discussions with that company, etc etc', and here is a very large invoice for having a chat with us.
I have found my signed contract with Edge Consulting Limited, so it sort of makes sense to get legal advice regarding its validity. Anybody agree, or am I way off with my thinking.

Mrs T ... You - like me - are going to need expert advice. It will cost - something I detest when I know that the case law seems to be on our side - but we have no choice.

[costo]

MRS T

I think nobody knows the right way, its new to all of us so take everyones advice and make your own decision (especially regarding using a tax expert) - one thing which EVERYONE agree's on is to get your appeal letter in time, with the correct wording (and lots of templates have been given). We do not know how its going to play out but have to keep a level head about this. I do think it is really important for everyone reading this you're are not alone - whilst right now we may not know each other this is a common cause and for mega high stakes.

[Snow]

Sorry so is this still under appeal?

Also did you have to write appeal letters?

As far as I know it's still flagged for investigation, last notice was about 3 years ago. I didn't have to do anything, the lawyers handled it all, they were premier strategies via dms.

[centurian]

Call me paranoid...but if I was playing HMRC's hand I would consider playing a few hands to test the opposition,how will we react? will we appeal? on what basis? because if they sent to everyone effected (which by some estimations is LOT of people) and everyone appealed at the same time they would surely not have the manpower to "reply" to the appeals?

I don't think paranoia is required to come to that conclusion - it makes sound sense to throttle the bandwidth to manage the load. HMRC probably wouldn't even deny they are doing this.

[mrs t]

Costco

Agreed, we are all in the same boat and hopefully there are more posts this coming week regarding this nightmare.

Administrator could you please change my settings so I can post personal messages....thanks

[bonetired]

I am new but admins - may I have the ability to send PM's as well?

[cojak]

I've asked Admin for PM rights guys.

[varunksingh]

I see Slim chances for HMRC to win and Happy to be with Cascade

As far as I know it's still flagged for investigation, last notice was about 3 years ago. I didn't have to do anything, the lawyers handled it all, they were premier strategies via dms.

That gives me big confidence in Cascade. I think cascade were called DMS before or they were partners. If DMS are still taking care of older clients, seems like cascade will continue to support us as well all the way. Kind of relieved. I am planning to visit cascade in coming days and discuss.

Any cascade contractor who is away from London and want me to ask any question in person then let me know.

I strongly feel we have a shot here

1) HMRC has lost cases against EBTs - extra, Sempra and Rangers. PA holding lost but were not using loans. JP Morgan also seems to be using Bonus and thus seems to be settling with HMRC
2) Why did HMRC did not raised this near the time of Tax returns when these schemes were already registered with HMRC

I for one will be bankrupt if this goes against me. But if HMRC lost it and I am also going to press charges for extreme stress. Seems like our life's and our families lifes have come to standstill.

varun