Edge EBT thread

[piebaps]

Mark

When I need electrical work doing, I ring an electrician because I don't know how to do it myself.................just saying!!

You will have the contractual stuff you signed when you joined Edge. This should give you the names of the entities you need to follow.

UK company House is here https://beta.companieshouse.gov.uk/
Isle of Man company house is here https://services.gov.im/ded/services...panysearch.iom

Remember that sometimes you may be able to do the job, but for piece of mind, an electrician might be better.

Happy hunting.

[markfedge]

edge and greenbay

obviously I'm missing something because i cant find either the trustees for greenbay consulting or edge , could someone PM me with the details please or help. Ive done loads of looking and still cant find them.

please help

It required about an hour of research into public records to find the trustee.

The truth is out there.

[webberg]

It required about an hour of research into public records to find the trustee.

The truth is out there.

[markfedge]

hi i cant seem to pm either

I am in the same situation. I can’t find the PM section. Can someone advice. Thanks

i also need to contact the person who has the loan book

[FINN]

Edge no longer exist and cannot be chased for tax.

Mapatui Ltd was the trustee. The loans were made from a trust. The dissolution of Mapatui is irrelevant as the loans were not on their books. Mapatui only ever acted as agent/administrator.

The trustee with present access to the loan book exists and has proven amenable to writing off loans. His details can be found by proper research into public records.

Be aware that a loan written off is an "event" with Part 7A. It seems that if you go for CLSO 2 then although the loan write off is taxable under law, you are not taxed by concession. That doesn't feel right somehow.

Hi Webberg / lastlegends - I'm in same position, wondering which YES/NO boxes to check on the settlement forms. The one which says do you intend to write off the loans 30 days after settlement.

The answer to that for me is, yes sort of so long as I'm confident the trustees will not come after me to repay the loans if I contact them. And No, if it means I definitely won't be required to pay IHT

a few questions;

1) Are you able to tell us how to contact the trustee / name contact details?
2) What should I say?
3) If I contact this person, am I opening a can of worms? Will they now remember who I am and how to reach me for full repayment of the loans?
4) Do we know anyone has been turned down - as in, the trustees said no we will not write off the loans?
5) Do we know anyone that the trustees have contacted to actually demand they replay the loans?

[webberg]

I think Edge do still exist. If this is the case shouldn't HMRC be going to them for TAX and NI under the Rangers ruling?

Someone on another thread suggested Mapatui are/were the trustees. I discovered that this company was dissolved on 25 March 2014
How is it therefore possible to request the loads to be written off? Surely this company dissolved with a lot of unpaid loans still sitting on their books

Edge no longer exist and cannot be chased for tax.

Mapatui Ltd was the trustee. The loans were made from a trust. The dissolution of Mapatui is irrelevant as the loans were not on their books. Mapatui only ever acted as agent/administrator.

The trustee with present access to the loan book exists and has proven amenable to writing off loans. His details can be found by proper research into public records.

Be aware that a loan written off is an "event" with Part 7A. It seems that if you go for CLSO 2 then although the loan write off is taxable under law, you are not taxed by concession. That doesn't feel right somehow.

[demby]

Hi, newbie here. I'm potentially looking to arrange a settlement with HMRC. On the Settlement Options form there is a questionnaire that has a number of yes/no questions including 'I intend to have the loans written off within 30 days of a settlement agreement being reached (if yes, complete the domicile and residence section on the back of this form...).

I assume this would be the course of action required as the loans are no longer loans in the eyes of HMRC. Is this the right thing to do? How does one approach it? Do Edge still exist to be approached in this way?

Many thanks

I think Edge do still exist. If this is the case shouldn't HMRC be going to them for TAX and NI under the Rangers ruling?

Someone on another thread suggested Mapatui are/were the trustees. I discovered that this company was dissolved on 25 March 2014
How is it therefore possible to request the loads to be written off? Surely this company dissolved with a lot of unpaid loans still sitting on their books

[hyper]

I’ve just joined this forum today. I finally came to the conclusion I would settle with HMRC but I need to get confirmation from The trustees that the loan is written off. As with a worried contractor I need to know how to contact the trustees of Edge EBT? Could I possibly contact you webberg to discuss this as well?

However as I have only just joined this forum today how do I go about sending a private message?

I am in the same situation. I can’t find the PM section. Can someone advice. Thanks

[lastlegends]

Contacting Edge

Hi, newbie here. I'm potentially looking to arrange a settlement with HMRC. On the Settlement Options form there is a questionnaire that has a number of yes/no questions including 'I intend to have the loans written off within 30 days of a settlement agreement being reached (if yes, complete the domicile and residence section on the back of this form...).

I assume this would be the course of action required as the loans are no longer loans in the eyes of HMRC. Is this the right thing to do? How does one approach it? Do Edge still exist to be approached in this way?

Many thanks

[HonestJo]

Latest HMRC Offer

Any views on:
https://www.gov.uk/government/public...ttlement-terms

2.1 Contractor settlement terms
Settlement will be on a net basis - Income Tax will be applied on all the DR loans, or other payments made for your client’s benefit, rather than the gross amount paid by the client. This means that the fees deducted from the gross amount by intermediaries (scheme expenses) will not be taxed as part of income or profits.

Income Tax is due for years in which loans were paid, or other payments were made, where HMRC has an assessment in place or is still in time to make an assessment (referred to in this guidance as ‘protected years’). The tax is calculated at the rates and bands applicable in the year of the loan or payment.

To prevent future DR charges (including the loan charge) arising on loans or other payments made from funds paid into the DR scheme in years which are not protected, contractors must make a voluntary payment. This voluntary payment (referred to as voluntary restitution) is calculated at the rates and bands applicable in the year the loan or payment was made. Once a contractor enters into an agreement with HMRC to make voluntary restitution, it will become legally enforceable.

Late payment interest is due for protected years. No late payment interest will be payable on voluntary restitution.

Where appropriate, penalties will apply.

Inheritance Tax (IHT) may also be due dependent on the nature of the scheme and the amounts put through.