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

[Rob79]

Proof would come if you started to pay it back, no?

Not necessarily.

If a judge has said that the flow of money from the trust to you falls to be treated otherwise than as a loan, then repayment proves nothing.

If you start to repay before a judge looks at it, then if the judge thinks it's genuine, it will help. If he thinks it's a ploy to make it look more like a loan, he will ignore it.

[davetza]

This is what a lot of boards are saying, that HRMC will use any data they get for 2007/2008 to invoke the 20 year rule.

I am not an expert but I think it is unlikely they will go back 20 years. The 20 years is mainly for fraud cases. These were marketed schemes that people (albeit unwisely) bought into. I think it would be hard to prove fraud in any of these cases and is much more a case of negligence. Think of it as the difference between unknowingly buying a stolen car (the police will confiscate the car and you are out of pocket) and actually stealing the car yourself.

[DMC777]

Received my letter from HRMC today confirming that I owe nothing for 08/09, and that there are no other outstanding years relating to any contractor loan schemes.

As explained on this and other threads, contact HRMC about your letter, ask them exactly what they are chasing you for and get it confirmed in a letter without offering any additional info.

[GOLD1]

Received my letter from HRMC today confirming that I owe nothing for 08/09, and that there are no other outstanding years relating to any contractor loan schemes.

As explained on this and other threads, contact HRMC about your letter, ask them exactly what they are chasing you for and get it confirmed in a letter without offering any additional info.

Had you already paid 08/09 and were not with Cherrylone etc after that?

[Rob79]

There is a note on the AVN Venus Tax website that a First Tier Tribunal case on Cherrylon, is imminent.

HMRC TAX INVESTIGATIONS SUPPORT- VENUS TAX

(No, I don't work for AVN Venus and I'm not suggesting that they are any better or worse than anybody else in dealing with these issues).

[convict]

I think that was an old post and the test case it refers to is in fact the Boyle case.

[Rob79]

Thanks Mr Convict.

I'll check that case for details of adviser etc.

[GOLD1]

Guys who do you recommend for representation?

[Rob79]

Guys who do you recommend for representation?

Representation for what?

I suggest you think about.

1. joining any action group specific to this scheme.
2. contacting HMRC via that group, or somebody at 3 below, or independently about where a settlement might be
3. get some professional help (accountant/tax specialist) with suitable knowledge.

[LisaContractorUmbrella]

I agree with Rob79 - if you are intending to fight HMRC it's going to be very expensive so working with others will reduce the cost and you will need an experienced professional guiding you - check out the lawyers that have been on the winning side in previous tax cases