HMRC Enquiry letters on Loans from EBT and other schemes

[Penguin]

Thanks Convict and Landrover.

Not sure I can send/recieve PMs, but would like to get together with anyone else who used Sanzar.....anyone on this thread??

Yours hopefully!

[Jashan]

Many thanks - I have written to Advantage Accounts to clarify their support and extent of; on receipt of response will share with others enquring the same

I am in similar boat. Have you received any reply from AdvantageAccounts yet?

[DarnEBTs]

Don't do anything to HMRC appeal response?

Hi All,
I have been a lurker for a while and have got some great advise. So thank you all. I am in the same boat re 08/09 inquiry from Hector. Was with Edge. Got the standard appeal letter wording from Edge and sent to Hector who responded quite promptly I might add.

Edge have advised not to further respond to Hector as the letter states that they will do further enquiries and get back to me when appropriate. Is this indeed the best course of action? I would suppose so but some confirmation and views from fellow members woluld be appreciated. Many thanks.

[12345]

got the letter

Hi All - just got the letter today. I know a couple of other people on the same scheme as I was and one person has not received the letter yet and the other got it last week.

I used Edge and my letter I believe is for 2008/9.

I am yet to contact Edge and ask for their advice - I have not actually seen the letter myself yet, my accountant just gave me the details (I was, thankfully, sitting down at the time!).

Happy to hear from anyone else from Edge - you can PM me if you want.

[Michael J Perry FCA]

TAX YEARS

Does anyone know if affected how long their specific schemes would be affected for? I'm assuming it would not be for just 1 year but for how long.

It is most likely that HMRC will look at ALL tax years covered by the period of your employment.

[DarnEBTs]

TAX YEARS

It is most likely that HMRC will look at ALL tax years covered by the period of your employment.

But if Hector are unsuccessful with a particular scheme for any year, is there any point in them then chasing the tax for the same scheme for subsequent years? Or is this appeal going to be a real long drawn process lasting few years that they will send in the inquiries anyway? Seems like gonna be a long rocky scary road.

[lumineer]

Thanks Convict and Landrover.

Not sure I can send/recieve PMs, but would like to get together with anyone else who used Sanzar.....anyone on this thread??

Yours hopefully!

Hi Penguin. I was with Sanzar in 08/09 and have sent off my appeal letter. Happy to get together to discuss this specific scheme and approach going forward.

[Breeze91]

It is most likely that HMRC will look at ALL tax years covered by the period of your employment.

So the standard discovery period of 4 years for 08/09 ends April this year, which is why the letters are coming out now, to protect their position as they state. If the discovery period is now closed for previous years and you've not received an assessment or investigation for those years, would they then need to class you being involved in 'Tax Evasion' for them to investigate years previous to 08/09 up to a limit of 6 or 20 if criminal/deceitful activity is suspected?

ADMINS - could my account please be enabled for sending PMs? Thanks.

[varunksingh]

Are these Discovery Letters Legal?

Might be not. Seems like HMRC can only send a Discovery letter on finding new information. In my case I had P11D details which details loans on my tax return on 08-09 Tax return and thus Discovery letter SHOULD not be legal in my case.

By the time I am done with this, I am sure I will be able enough to start a accountancy service business!

[cojak]

Might be not. Seems like HMRC can only send a Discovery letter on finding new information. In my case I had P11D details which details loans on my tax return on 08-09 Tax return and thus Discovery letter SHOULD not be legal in my case.

By the time I am done with this, I am sure I will be able enough to start a accountancy service business!

What if the new information has been given to them by the scheme provider?