HMRC Enquiry letters on Loans from EBT and other schemes

[varunksingh]

Pool Resources for what?

At this stage nothing is required apart to making sure appeal is done on time and accepted. PA Holding vs HMRC is due for hearing in Supreme court in Jul and Ranger case is being appealed by HMRC to higher tribunal. If you read HMRC EBT settlement notes and FAQ, then seems like HMRC is basing all this action on PA Holding case. So it is an important one for all of us.

Pooling of resources will only be required if HMRC starts to take each scheme to Tribunal. In total about 70 schemes were operating in UK before 2010 and HMRC has a massive task at hand. This is at least years away. Might be HMRC will wait for PA Holding case and Ranger case to finish before starting on other ones. Who knows but that seems logical unless HMRC has got a massive budget to ensure all schemes are taken to tribunal

I am not an accountant but one of the contractors who used one of these schemes. I am not authorized to advise and this should not be taken as advice. From all my research best plan of actions is
1) ENSURE appeal is done on time and is in a format that will get accepted by HMRC. Deal with HMRC through your scheme provider or a qualified account
2) Start collecting all you documents - Old loan agreements, Loan emails, P11D, P60, Tax Returns etc. If HMRC continue to pursue that at some stage all this would be required
3) Join a group of people under your scheme. Share experiences and support each other
4) Start saving. Get ready to fight for the best outcome but get prepared for the worst

[Michael J Perry FCA]

Good Advice

The previous post makes a lot of sense!

[bstar1]

Same Here

Got no page 2 either,

I'm framing mine.

[GoneSouth]

Legal costs

Hello sorry if this has been asked already but we were talking on the Edge thread and had the following question.

Does anyone have a ball park figure for what representation at a Tax Tribunal costs. Are we talking thousands, tens of thousands or even more?

I appreciate the obvious answer is 'it depends' but some info would be good.

GS

[TheDandy]

Hello sorry if this has been asked already but we were talking on the Edge thread and had the following question.

Does anyone have a ball park figure for what representation at a Tax Tribunal costs. Are we talking thousands, tens of thousands or even more?

I appreciate the obvious answer is 'it depends' but some info would be good.

GS

Hi,

I will be posting something on the Edge thread shortly with regard to organising a collective legal representative option for Edge members. I have been doing some initial groundwork with a respected tax adviser and barrister and I have indicative answers to these questions.

[Michael J Perry FCA]

Getting ahead

Hi,

I will be posting something on the Edge thread shortly with regard to organising a collective legal representative option for Edge members. I have been doing some initial groundwork with a respected tax adviser and barrister and I have indicative answers to these questions.

This has been answered already by others but we are some way off from any potential litigation and this approach shows a lack of understanding about what HMRC are trying to achieve at this time.

Please read through the earlier posts and related threads to gain more understanding and speak to a tax specialist if you are concerned about your own case.

[TheDandy]

This has been answered already by others but we are some way off from any potential litigation and this approach shows a lack of understanding about what HMRC are trying to achieve at this time.

Please read through the earlier posts and related threads to gain more understanding and speak to a tax specialist if you are concerned about your own case.

Hi Michael,

Thanks! I have read the entire thread, more than once. Personally I am entirely comfortable with the situation and have my own firm opinion about what HMRC is trying to do (at least at this moment in time), which I don't intend to force on anyone at all. I don't think however my posting shows a lack of understanding and unless you have insight into what I am going to illustrate to Edge members then I respectfully ask you to not assume anything (most of all litigation!). I think your input is invaluable and I think people should avail themselves of your offer to attend a seminar - it's a generous offer. I will be merely outlining an option that people are free to consider; not I may add dissimilar to what you have been advising yourself.

[Michael J Perry FCA]

Litigation

hi michael,

thanks! I have read the entire thread, more than once. Personally i am entirely comfortable with the situation and have my own firm opinion about what hmrc is trying to do (at least at this moment in time), which i don't intend to force on anyone at all. I don't think however my posting shows a lack of understanding and unless you have insight into what i am going to illustrate to edge members then i respectfully ask you to not assume anything (most of all litigation!). I think your input is invaluable and i think people should avail themselves of your offer to attend a seminar - it's a generous offer. I will be merely outlining an option that people are free to consider; not i may add dissimilar to what you have been advising yourself.

point taken!

[bluemonkey71]

Got the letter today. I was with White Collar. Anyone else use them? An old work colleague got the letter and WC got the reply done for him but he's since had a demand again.

[Michael J Perry FCA]

White Collar Consulting Limited (in liquidation)

Got the letter today. I was with White Collar. Anyone else use them? An old work colleague got the letter and WC got the reply done for him but he's since had a demand again.

We are acting for a number of clients that are ex-employees of White Collar and if you read back in this thread you will notice more.