Edge EBT thread

[administrator]

Could the administrator grant me the PM rights please, I'd like to join the representative group too.

thanks

Done!

[mrwibble]

The last time thedandy had any activity on this site was a few months back.

True, and given today's new EBT News doesn't look good TBH.

[PeterF]

True, and given today's new EBT News doesn't look good TBH.

Interesting. Coupled with Edge disappearing it makes one wonder who knows what exactly.

[Talgarth]

Has anyone heard of contractors from other schemes getting the same letters? I hope it isn't just Edge this time around as that would suggest that something was not watertight with the operation. I cannot see anything else on EBT threads.

[fielder]

2009/2010 recieved

Even though I only worked 1 month contracting with Edge during the 2009/2010 I have received a letter for a nice sum also (on top of 2008/2009) again I have sent an appeal letter off to Miss L J Stoop.

[Herewego]

other contractors

there are other contractors from other schemes in exactly the same position....

[happychap]

there are other contractors from other schemes in exactly the same position....

I heard 15 schemes with a little over 10k people involved

[manlypeeps]

2009-10 demand

Took a look at the letter when I got home last night and the wording's changed from the previous year's letter to be much more specific.

The thing that worries me the most is the fact that Edge is now unreachable. I feel that the least they can do is support us, as they promised when we all started, in return for the fees they deducted.

I have found an email from Edge in response to HMRC’s initial investigations in 2010, stating that they had asked Advantage Accounts to respond on behalf of employees. I have asked Advantage Accounts to send me a copy of their response. Edge have also stated previously that they had engaged KPMG to review the scheme. Does anyone have a copy of the results of the review confirming the legality of the scheme?

The FAQs attached to the letter for 2009-10 that I received yesterday state that payment of the outstanding amount does not admit liability nor prevent me from lodging an appeal. If this is true, are there any negative implications from paying the demand?

Can anyone tell me the rate of interest charged by HMRC if I don’t pay?

[PeterF]

I wouldn't rely too much on what Edge said they would or wouldn't do - the fact that they stopped trading in the UK and are effectively disappearing, without any kind of notification to those they said they'd 'represent', I would suggest tells you exactly what kind of outfit they are. My guess is they knew all along this day would come and had taken suitable measures to protect themselves, enabling them to position themselves and say 'you're on your own guv, nothing to do with us', hence the current disappearing act. My fear is they knew the scheme wouldn't hold up all along (but didn't really care since they set it up such that it was the contractor who would get it if/when necessary), but just said whatever it took to keep the wool over people's eyes as long as possible.

I read something in a HMRC document recently regarding mis-selling of schemes by providers - I'm starting to wonder if it's worth looking into a legal pursuit of Edge themselves.

[dezze]

True, and given today's new EBT News doesn't look good TBH.

I don't know the details, but this looks like a particular use of an EBT to shares vehicle - I'm assuming the current raft of enquiries are based on loan schemes.