HMRC enquiries for Talent Resource Management (TRM) / Cherrylon / Trentburg Schemes

[arthurpewtey]

Me too - appeal in the post tonight.

And a Self Assessment Statement tonight, which declares the assessment to which this week's discovery assessment letter referred, is dated 31 Jan 10 - and that therefore an additional interest charge of almost 10% of the sum assessed by the week's earlier letter is due (on top of the sum assessed as due on alleged income, of course).

The Statement gives no details as to how to dispute the interest charge, which I would like to do on at least the grounds that:

a. I have appealed the validity of the assessment of liability on which the interest is showing as owed
b. That it is plainly ludicrous to assert that any such assessment was made in Jan 10, unless it was made by HMRC and "kept secret" for three years

Should I at least write to point out that I have already appealed the original assessment?

[fetabob]

1 more for the TRM gang

Hi guys.

Glad this forum and contributers are here, read the big thread last night.
Got my letter in, dated 28th Feb, not had any dealings with of this sort with HMRC before + never had to do a self assessment or anything like that.

Would be great to have PM ability if there are any Mods/Admin in the neighbourhood.

[convict]

I've been checking HMRC Online to see if anything appears. Well this morning a new entry for 08/09 was added with interest and an amount. I guess I'll wait for the letter

[convict]

Tribunal Case?

I'm hearing rumours of a 'test' case going to Tribunal in May. Does anyone know anything about it?

I'm guessing it will impact all users of the TRM scheme as the ruling will work in one party's favour.

[Michael J Perry FCA]

First Tier Tax Tribunal hearings

I'm hearing rumours of a 'test' case going to Tribunal in May. Does anyone know anything about it?

I'm guessing it will impact all users of the TRM scheme as the ruling will work in one party's favour.

These forthcoming hearings are not publicised (until the hearing outcome is reported) and I was informed by Specialist Investigations office last year that there are cases to be heard both in 2013 and 2014. Particular information might come from the individuals concerned and professional advisers are unable to give any information here due to ethical considerations.

HMRC have stated that they will try to recover duties either by voluntary settlement or litigation where appropriate.

[bluecrescent]

Just got my letter... am speaking to Debra Jones @ Tax Talk UK

Has advised me to appeal right away.

look forward to updates :-)

[picasso]

Appeal Letter & Self Assessment Statment

I received the notice of assessment giving me till 30 march to pay. Today received self assessment statement with interest added.

One option to put on the appeal, from tax talk, was to add the line, 'I am paying the tax demanded in order to stop further interest accruing. This does not constitute my agreement that the income is taxable.'

Does anyone think this a good idea, to pay the full amount on the assessment now, to stop the interest, or should we just be sending of the appeal?

Apart from waiting to here when Michael's seminar is going to be and attending, does anyone know of any tax adviser specifically dealing with ex-TRM who I should be talking too. I have not sought professional advice up to now. From these threads, it seams some of us are getting mixed advice from tax consultants, some just saying pay up. I would prefer to be in contact with someone fighting our case. Can anyone advise

[Old Kent Road]

Stopping the interest

I received the notice of assessment giving me till 30 march to pay. Today received self assessment statement with interest added.

One option to put on the appeal, from tax talk, was to add the line, 'I am paying the tax demanded in order to stop further interest accruing. This does not constitute my agreement that the income is taxable.'

Does anyone think this a good idea, to pay the full amount on the assessment now, to stop the interest, or should we just be sending of the appeal?

Apart from waiting to here when Michael's seminar is going to be and attending, does anyone know of any tax adviser specifically dealing with ex-TRM who I should be talking too. I have not sought professional advice up to now. From these threads, it seams some of us are getting mixed advice from tax consultants, some just saying pay up. I would prefer to be in contact with someone fighting our case. Can anyone advise

You can stop the interest accruing by buying a certificate of tax deposit. I think this would be safer than paying to your hmrc account directly, even with the caveat in your response. However I would question the economics as you might be able to beat the 3% late payment interest by investing your cash elsewhere in some other vehicle if you have the lump sum funds. But IANA financial adviser...

[jonnyd]

just got my assessment through.. weep.

I joined this scheme in good faith. It was legal at the time. Is that not a good enough defense?
How many of these case can HMRC take on?

[porrker]

just got my assessment through.. weep.

I joined this scheme in good faith. It was legal at the time. Is that not a good enough defense?
How many of these case can HMRC take on?

Unfortunately not. Yes the scheme may have been legal and the scheme may still stand as being legal. What HMRC are now doing is not taking on the schemes but it's user through disguised renumeration. HMRC are going to argue that you have been paid for work performed and not a real loan and hence should be subject to PAYE/NIC. HMRC have yet to win a case but that may change with the Rangers appeal and if so it will come down to how your scheme was setup and how your contracts and trust agreements are structured.

All the scheme users currently being investigated appear to have a DOTAS number which means they registered as tax avoidance schemes HMRC may wish to test this if the schemes registered as tax avoidance they must be artificial.