HMRC Enquiry letters on Loans from EBT and other schemes

[stonehenge]

The fees you paid were for using their scheme.

You have not paid them for tax advice.

It continues to baffle me as to why this simple distinction is not obvious.

To be fair, many promoters gave a written undertaking to defend the scheme against an HMRC investigation. This, coupled with the QC opinion, was what suckered many of us in.

[difficulttimes]

To be fair, many promoters gave a written undertaking to defend the scheme against an HMRC investigation. This, coupled with the QC opinion, was what suckered many of us in.

+ 1
I was speaking to someone who was STILL on a loan scheme and he told me straight face that the accountant told him that if they lose in litigation that he will get ALL of his money back paid in fees. It didn't matter of course that the scheme promoter was in Mauritius..

[stonehenge]

+ 1
I was speaking to someone who was STILL on a loan scheme and he told me straight face that the accountant told him that if they lose in litigation that he will get ALL of his money back paid in fees. It didn't matter of course that the scheme promoter was in Mauritius..

I used to be that gullible.

[webberg]

To be fair, many promoters gave a written undertaking to defend the scheme against an HMRC investigation. This, coupled with the QC opinion, was what suckered many of us in.

Exactly, defend the scheme.

That is in their interest and only incidentally in yours.

But now, we all know better, don't we?

[MinHeadRoom]

TRM/Redding/Cherrylon scheme

Hi everyone,

I was with TRM/Redding/Cherrylon for 4 years before leaving the UK for AUS permanently at the end of 09.

I myself have been round the houses and have spoken to most of the advisers on this forum and HMRC directly regarding CLSO and next steps.

Is there anyone else that I can PM directly to gain and share advice / information gleaned to date? I'd like to understand from others in a similar situation what strategy options are being considered.

Please PM me direct if you prefer.

Thanks

[woftam]

Hi everyone,

I was with TRM/Redding/Cherrylon for 4 years before leaving the UK for AUS permanently at the end of 09.

I myself have been round the houses and have spoken to most of the advisers on this forum and HMRC directly regarding CLSO and next steps.

Is there anyone else that I can PM directly to gain and share advice / information gleaned to date? I'd like to understand from others in a similar situation what strategy options are being considered.

Please PM me direct if you prefer.

Thanks

Will PM you

[bandemelbs]

Will PM you

Same

[burnside]

Ok so new to posting here. I used the AML scheme (DOTAS registered) and then another scheme with Helix Projects (not DOTAS registered) over 5 years. My wife used the Helix scheme for 1 year (over 2 tax years). We have obviously had the compliance letters, etc. and responded to all of them, but we received these quite late, 1st one just over a year ago so essentially when I was already in too deep.

Obviously not being the brightest spark, otherwise I wouldn't have ever used this schemes and for so long, I really am not up to speed with everything that is going on, I knew nothing about the LC19 or CLS02 let alone CLS01 until I found this forum as haven't been notified of these by HMRC.

So the situation as I see it is that I have anything up to £500k loans, my wife £50k. Seems sensible that we arrange to settle for my wife asap as we have funds to cover this, but for me I have absolutely no way of paying the impending tax bill whether it is via CLS02 or LC19.

Read up on Big Group, etc. but if I am essentially facing bankruptcy is there any point in joining, when the reality is what I need is bankruptcy advice and support and not tax advise and support? I don't see much on here about this, but it seems obvious to me that this is a likely outcome for a lot us

[MyxALot]

Looking at it another way, if you're facing bankruptcy you've got nothing to lose by joining Big Group.

[burnside]

Looking at it another way, if you're facing bankruptcy you've got nothing to lose by joining Big Group.

Well you have unless Big Group is now free, otherwise I would be paying money needlessly? If bankruptcy is the inevitable outcome not sure what benefits there could be, but please feel free to correct me if I am wrong?