Edge EBT thread

[Ozbird]

Phone or mail. You should have contact details from trust awards etc.

Well therein lies the problem. The Edge trust was managed by Tenon Limited - Isle of Man. I contacted Tenon and was told that they no longer administer the trust and they would not give me the details of the current trust administrators. Saleos claims to be able to arrange for settlement with HMRC including getting the loans written off and IHT (for a fee). Whereas HMRC claim both verbally and in writing that they will not enter into any arrangements via groups o agents that give better terms than those offered to individuals. It all smacks of double dipping to me. The scheme originators had their 9% commission to start with and now they are holding is to ransom for more money to arrange to get the loans written off - with no guarantee.

[bluemonkey71]

Well therein lies the problem. The Edge trust was managed by Tenon Limited - Isle of Man. I contacted Tenon and was told that they no longer administer the trust and they would not give me the details of the current trust administrators. Saleos claims to be able to arrange for settlement with HMRC including getting the loans written off and IHT (for a fee). Whereas HMRC claim both verbally and in writing that they will not enter into any arrangements via groups o agents that give better terms than those offered to individuals. It all smacks of double dipping to me. The scheme originators had their 9% commission to start with and now they are holding is to ransom for more money to arrange to get the loans written off - with no guarantee.

They won't tell you? What a bunch of ....
I'm pretty sure my scheme used Tenon too.
What year(s) are you talking about?

Most of the trust people I've spoken to will write off the loans for a fee ranging from 500-2500 quid.
So years that have been missed would cost a max of the above depending on the trustee plus the IHT charge.



Most trusts are transferred to other companies and not just closed down so someone will be administering it.

[webberg]

Well therein lies the problem. The Edge trust was managed by Tenon Limited - Isle of Man. I contacted Tenon and was told that they no longer administer the trust and they would not give me the details of the current trust administrators. Saleos claims to be able to arrange for settlement with HMRC including getting the loans written off and IHT (for a fee). Whereas HMRC claim both verbally and in writing that they will not enter into any arrangements via groups o agents that give better terms than those offered to individuals. It all smacks of double dipping to me. The scheme originators had their 9% commission to start with and now they are holding is to ransom for more money to arrange to get the loans written off - with no guarantee.

Trusts and trustees cannot disappear. If the original trustees have decided to remove themselves then they have to appoint others. I very much suspect that the home of last resort is some form of Government Solicitors Office or similar. Track them down.

Settlement with HMRC and having the loans written off are separate matters.

It may well be that the best settlement involves the loans being written off but HMRC will have no part in that process. They will be able to agree the tax consequences of the write off but that is all.

HMRC is correct in their view on the application of an agreed position. If they agree something for one they will apply it for all. Consequently if that position is reached, it makes no difference if you are part of a group or not.

In this situation however, chances are that litigation is looming. Therefore it will be the view of the final Court that will apply to all UNLESS - you reach a contract settlement first.

A contract settlement is between you and HMRC and is confidential. HMRC will certainly attempt to be consistent between members of the same scheme. However there may be circumstances in which some may get different terms.

I would make no comment at this stage on the position of promoters but it is something I'm looking at.

[jbeer]

Settling best approach ?

Trusts and trustees cannot disappear. If the original trustees have decided to remove themselves then they have to appoint others. I very much suspect that the home of last resort is some form of Government Solicitors Office or similar. Track them down.

Settlement with HMRC and having the loans written off are separate matters.

It may well be that the best settlement involves the loans being written off but HMRC will have no part in that process. They will be able to agree the tax consequences of the write off but that is all.

HMRC is correct in their view on the application of an agreed position. If they agree something for one they will apply it for all. Consequently if that position is reached, it makes no difference if you are part of a group or not.

In this situation however, chances are that litigation is looming. Therefore it will be the view of the final Court that will apply to all UNLESS - you reach a contract settlement first.

A contract settlement is between you and HMRC and is confidential. HMRC will certainly attempt to be consistent between members of the same scheme. However there may be circumstances in which some may get different terms.

I would make no comment at this stage on the position of promoters but it is something I'm looking at.

Sounds to me that settling would be perhaps the best move (assuming you could afford to pay). That way you don't run the risk of getting worse terms and if somehow better terms are offered to others following litigation then you could then expect these to be retrospectively applied to you (as the outcome of the case would be public knowledge ?
Or is that too simplistic ?

[webberg]

Sounds to me that settling would be perhaps the best move (assuming you could afford to pay). That way you don't run the risk of getting worse terms and if somehow better terms are offered to others following litigation then you could then expect these to be retrospectively applied to you (as the outcome of the case would be public knowledge ?
Or is that too simplistic ?

Nice theory and logic but the wrong conclusion.

If you settle and pay say £100 but the litigation later says the bill should be £50, that's tough luck.

By entering the settlement you accept that there may be a better result that you can no longer access.

equally you could perhaps pay £100 and the final result is a bill of £200 (including penalty etc). In that case, you've done well.

There are some limited circumstances in which you can achieve the result you suggest but generally not.

[IPMAN]

P60 Search Nightmare

I've located my P60s for last 5years except 2010-2011

Required to figure if APNs are accurate, or rather how many tens-of-thousands of pounds they're over by. In fact one of my APNs is over by 100k and btw that not a joke. Anyways for the life of me i'm unable to locate 2010-2011.

Is there any way to get copies from edge or advantage accounts perhaps?

[kloot]

Advance Payment Notice Received

Hi,

Just received my APN, for 4 years working for Edge. Looks like a judicial review is the best option. Is anyone else thinking this?

PM me please.

[bhavvy]

Please join a group - Its your best defense !

Hi,

Just received my APN, for 4 years working for Edge. Looks like a judicial review is the best option. Is anyone else thinking this?

PM me please.

Please check out this site and contact the support group - Norla Edge Former Employee Self Help Group EBT Employee Benefit Trust

[doranmik]

APN's

Hi,
Q: once you have received your APN - is that game over or can you appeal against it and hope that any bill / law change doesn't go through?
Thanks and apologies for naivety - just picking up the pace on all this!

[Mayr4ofen]

APN figure vs SO figure

Hi

Just had a call from HMRC to make sure i have received an APN
asked why the APN is a lot less than the settlement offer (and it is not just the interest) but he had no idea
Has anybody else seen a large discrepancy between the APN and the SO ?