HMRC enquiries for EBT schemes through SANZAR

[DonkeyRhubarb]

I heard this from someone as well.

You couldn't make it up.

They issue a Settlement Opportunity but then tell people they can't settle.

[Shrek77]

Heard the same- they just keep moving the goal posts. How can you owe more? I don't understand what they are investigating? Can anyone shed any light?

[MrO666]

I agree, how on earth can they offer a settlement opportunity, then tell people they can't settle.

Unless I've got something very wrong here, I don't see how IHT would have anything to do with it if you were paying the tax due in full.......it's then just treated as income earned and tax paid.

I just wonder whether the IHT issue is a blanket across all schemes under review, and actually not relevant to most of them. So there may be some schemes for which IHT played a key part, and instead of picking them out one by one, HMRC have taken the approach to halt everything whilst they look.

Either way....arse from elbow springs to mind

[NeedTheSunshine]

I'm aware of somebody who called HMRC last week and told them they wanted to accept the DA and settle the liability. The case specialist at HMRC said we'd love to settle your case, however HMRC top bods have told us we're not allowed to, as schemes are now being assessed for inheritance tax purposes, so until that's resolved we're unable to settle any cases.

WTF is that all about. Surely if you're offering to settle the tax liability in full, then there isn't (and would never be) any issue regarding IHT (if indeed there ever would be anyway)!!

Sounds to me like that haven't got a damn clue what they're doing at all.

Seriously though, they said he could pay the money, but that they were unable to actually close down the appeal until this IHT review was complete.

I was with an EBT and requested my settlement calculation a while ago. It included IHT (which I was not expecting). I saw at least one other person from a different scheme to mine also had IHT included. I also saw that others didn't have IHT included in their settlement calculations. My case was open under an enquiry rather than a DA so am wondering if it is the DAs that are being assessed for IHT as the original DA figure wouldn't have included it?

[GoDutch]

Another one

Hi Admin, please grant me access to PM/Old Kent Road

A newbie here and glad I found this site. I was with Sanzar in 2010/2011

Thanks

[administrator]

Hi Admin, please grant me access to PM/Old Kent Road

A newbie here and glad I found this site. I was with Sanzar in 2010/2011

Thanks

Done!

[DonkeyRhubarb]

I was with an EBT and requested my settlement calculation a while ago. It included IHT (which I was not expecting). I saw at least one other person from a different scheme to mine also had IHT included. I also saw that others didn't have IHT included in their settlement calculations. My case was open under an enquiry rather than a DA so am wondering if it is the DAs that are being assessed for IHT as the original DA figure wouldn't have included it?

I think you're trying to find logic where none exists.

What a fiasco.

[NeedTheSunshine]

I think you're trying to find logic where none exists.

What a fiasco.

I think you're right!

With Christmas looming I guess it's going to be some time before we hear any more.

This whole thing has been quite an eye opener for me.

[StrengthInNumbers]

As soon as u settle, exit charge from trust get applied. Settlement is more trouble instead of resolving. Even leaves your loans open which courts have ruled again and again have legal consequences if you don't pay when recalled.

[DonkeyRhubarb]

As soon as u settle, exit charge from trust get applied. Settlement is more trouble instead of resolving. Even leaves your loans open which courts have ruled again and again have legal consequences if you don't pay when recalled.

So, in addition to paying around 40% tax on the loan amount, plus interest, you also get stung for an IHT exit charge?

What % does the exit charge work out at?