• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Edge EBT thread

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    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

    Comment


      Originally posted by Ambist View Post
      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

      Comment


        Originally posted by lastlegends View Post
        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

        Comment


          Originally posted by demby View Post
          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.
          Best Forum Adviser & Forum Personality of the Year 2018.

          (No, me neither).

          Comment


            Originally posted by webberg View Post
            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?

            Comment


              hi i cant seem to pm either

              Originally posted by hyper View Post
              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

              Comment


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

                The truth is out there.
                Best Forum Adviser & Forum Personality of the Year 2018.

                (No, me neither).

                Comment


                  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


                  Originally posted by webberg View Post
                  It required about an hour of research into public records to find the trustee.

                  The truth is out there.

                  Comment


                    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.

                    Comment


                      Originally posted by piebaps View Post
                      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.
                      Name EDGE CONSULTING SERVICES LIMITED
                      Number 124949C
                      Registry Type 1931 Act Company
                      Company Type Private Ltd by Shares
                      Registered Office Address DESIGN HOUSE, HILLS MEADOW, DOUGLAS, IM1 5EB, Isle of Man
                      Date of Incorporation 9 Jul 2010
                      Dissolved Date or Struck Off Date 11 Dec 2012
                      Presence of Charges No
                      Is in Liquidation? No
                      Receiver(s) Appointed? No
                      Status Dissolved

                      Name MAPATUI LIMITED
                      Number 121505C
                      Registry Type 1931 Act Company
                      Company Type Private Ltd by Shares
                      Registered Office Address 6th Floor, Victory House, Prospect Hill, Douglas, IM1 1EQ, Isle of Man
                      Date of Incorporation 2 Jan 2008
                      Dissolved Date or Struck Off Date 25 Mar 2014
                      Presence of Charges No
                      Is in Liquidation? No
                      Receiver(s) Appointed? No
                      Status Dissolved

                      Comment

                      Working...
                      X