Edge EBT thread

[ImFedUP]

Edge EBT - HRMC letter: Contractor Loan Settlement Opportunity

Hello,

I am new to this forum and would really appreciate some advice. I have been looking around for information and after reading from various websites and threads I am now totally confused.

I have today received a letter from HMRC with the subject Contractor Loan Settlement Opportunity. This refers back to the short time when I used Norla/Edge.

I have seen from this thread that I should appeal to minimise penalties. Could someone please explain to me what the situation and otions are? I joined the scheme in good faith, and I was assured that it was completely legal, or I would not have joined.

The last time I contacted Edge Consulting was in August 2012, and I was told "In all honesty if I were you and haven’t heard anything since the case were opened I wouldn’t look into this any further. The EBT structures all operated to current legislation at the time and therefore you should not have to pay any additional taxes on the payments you have received."

I will also be reading up all the threads on this site. Thank you.

[glyn5548]

HMRC enquiries EBT

I was with Edge Consulting Ltd 07/08 does anyone know if they're still around?

[mulberryblue]

Me too!

[gettingangry]

Settlement Opportunity

On Q&A No3 it says that this document does not apply to EBTs, and that we need to contact them to discuss.

Anyone know what will be different between this settlement opportunity and the EBT one?

I would like to know exactly how much they are talking about but I'm scare to ask for a calculation.

Also on Q&A 17 mentions says "... and the law in place at the time" - are they joking - what about all the retro tax rules they are now applying.
And what about the investigations they did whilst the scheme was running - why did they not come back and say STOP or even give us some sort of warning. Their failure to come back on these investigations has implied that they were legal at the time - oh but that means jack-tulip now because they can change the rules and laws when ever they want.

Q4 -"you have the certainty that they cannot be changed by any future litigation in another case" - yeah sure!!!!

[meanttobeworking]

On Q&A No3 it says that this document does not apply to EBTs, and that we need to contact them to discuss.

Anyone know what will be different between this settlement opportunity and the EBT one?

That note in q3 was to *employers* offering EBT schemes.

What I would like to know is, if the settlement opportunity is open until 9th January 2015, does that mean we won't receive APNs or FNs until at least the 10th Jan?

[JamesOrland]

New. Requesting PM access.

Hello,

Ex-Edge employee. Received HMRC tax payment request. Just learnt about this site. Need to band with a group to pursue my case. Need to contact TheDandy. Please give me PM access.

Thanks.

[EBTContractor]

Settlement Opportunity

For ex-Edge people, it would be silly to settle unless you have other stuff going on in the tax years in question that HMRC hasn't found out about and a settlement is beneficial to you.

HMRC's point of view is really one sided, they only make references to Boyle, not their defeat in the Rangers Tax Case.

Edge's product had nothing to do with artificial currency transfers like the Boyle product, or the movie investment products that generate a paper loss.

Another scare tactic to hit payment targets and aimed at those who didn't cough up when the first round of letters were sent.

If I had a spam button on my letterbox I'd click it.

[edgy about edge]

also got settlement opportunity letter this morning

[gettingangry]

Is anyone going to bite the bullet and ask for a final calculation?

Yes - they lost the Rangers case - what impact will this have on our case?
http://www.bbc.co.uk/news/uk-scotlan...-west-28231598

[meanttobeworking]

Is anyone going to bite the bullet and ask for a final calculation?

I have, although I'm "lucky" enough to have only been with Edge for a few months.