Edge EBT thread

[aworriedcontractor]

How to contact Edge EBT Trustees?

I intend to settle with HMRC for the EBT loans from Edge. It's HMRC's understanding that the Edge Trustees will not agree to the loans being written off. I was told to get confirmation in writing from the Trustee that they agree to the loan write off. Does anyone know how to contact the Trustees of Edge EBT?
Many thanks

[webberg]

I intend to settle with HMRC for the EBT loans from Edge. It's HMRC's understanding that the Edge Trustees will not agree to the loans being written off. I was told to get confirmation in writing from the Trustee that they agree to the loan write off. Does anyone know how to contact the Trustees of Edge EBT?
Many thanks

PM me

[Ambist]

How to contact edge trustees

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?

[administrator]

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?

You now have access to the private message system. Just click on the name of the person you want to contact and you will see an option to send a message.

[Ambist]

Th

You now have access to the private message system. Just click on the name of the person you want to contact and you will see an option to send a message.

Hi administrator

Thanks

[DKB]

I just had an 0300 number flash up on my phone and had that horrible feeling it was HMRC.....I hate being right!

They called to say they sent me a letter in October (which I didn't get) asking if I want to settle tax on the years I used Edge for. As I've not seen the letter I couldn't comment, so they said they'd resend the letter for me. I paid an APN last year and wondered as they seem to contact people in waves, have others now been asked / encouraged for previous years? It was all a bit vague so wondered if people are getting similar letters or is this unique to me?

I will probably get paid for advice on this one. Without wanting to sound too much like a wimp, my job is stressful, I'm doing a house renovation with every minute of my spare time and to top it off, HSBC safeguard have closed my business bank account in error (they've confirmed there's been a glitch!) and despite saying they've sent me a cheque for the funds in my account, it's been 4 weeks and I'm still chasing and getting nowhere!! I need less stress in my life (and desperately need some money as it's mortgage week and it's not looking good!).

Cheers.

[regron]

I just had an 0300 number flash up on my phone and had that horrible feeling it was HMRC.....I hate being right!

They called to say they sent me a letter in October (which I didn't get) asking if I want to settle tax on the years I used Edge for. As I've not seen the letter I couldn't comment, so they said they'd resend the letter for me. I paid an APN last year and wondered as they seem to contact people in waves, have others now been asked / encouraged for previous years? It was all a bit vague so wondered if people are getting similar letters or is this unique to me?

I will probably get paid for advice on this one. Without wanting to sound too much like a wimp, my job is stressful, I'm doing a house renovation with every minute of my spare time and to top it off, HSBC safeguard have closed my business bank account in error (they've confirmed there's been a glitch!) and despite saying they've sent me a cheque for the funds in my account, it's been 4 weeks and I'm still chasing and getting nowhere!! I need less stress in my life (and desperately need some money as it's mortgage week and it's not looking good!).

Cheers.

Sorry to hear your plight and you are definitely not alone. Can't offer any specific advice as everyone's position is unique however, as a piece of general advice. Work out how many years you were in these schemes and plan to be hit for every year. Either now via APN etc... or when the 2019 loan charge hits. Then speak to an independent tax professional to discuss your personal situation/circumstances.

[bstar1]

APN

Anyone had a "phone call" from HMRC asking if they a settlement offer on an APN, if so they will work out a calculation and post it t out for those years so they are removed from your SA record, they also mentioned you are not obliged. ??

[HonestJo]

Latest HMRC Offer

Any views on:

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

[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.