Edge EBT thread

[vern19]

JINX!


/sorry - couldn't help that/

Convict's post. It is Boyle vs HMRC. Unfortunately this may be quite significant. In a bad way :-(

http://forums.contractoruk.com/hmrc-...chemes-62.html

[harleysteve]

Hi, been reading this thread with interest - also caught up for a couple of years. Please include me in numbers for group challenge.

[varunksingh]

Convict's post. It is Boyle vs HMRC. Unfortunately this may be quite significant. In a bad way :-(

http://forums.contractoruk.com/hmrc-...chemes-62.html

But am I not correct in thinking only if your scheme used FX? Did Edge used FX loans?

[Living life on the Edge]

CTD questions

Is there any disdavantage of lodging a CTD - does it imply guilt, does it reduce the likelihood of a 'good' negotiated settlement downstream, are you likely to get earmarked or targetted by HMRC as the people to go for first, etc.?

I believe not: they are not linked to your self assessment account as far as I can see, and people use CTD's for all sorts of reasons e.g. capital gains tax, inheritance tax, as well as income tax
They are not the same as a payment on account where you pay funds against a particular liability.

Cany you lodge a CTD for a partial maount and not the full amount??

Yes, any amount at all.

Can you simply simply dissolve/terminate the CTD at any point?

Yes, you may redeem the CTD at any point by sending the certificate(s) back to HMRC Cumbernauld

[RichardC]

Group engagement

I was also employed by Edge from 07/08 to 09/10 and have just received my letter for 09/10 tax year. Sending back the stock long form appeal letter.

Could I be granted PM rights to make contact for the group engagement please?

[Tom Cragg]

Hedging my bets

Hi Folk,

My first post to this thread.

I have been subjected to both the 2008/9 and 2009/10 reassessments and have now appealed both.
However, as I am lucky enough to have the funds, I have also just transferred the assessed amounts to the HMRC CTD team at Cumbernauld with the requisite covering letter. Their website has the details.
That's hedging my bets and I only did so because of a post I saw earlier, mentioning the use of CTDs.
Thanks guys.

As I support a simple, progressive and fair tax regime, this action by HMRC seems both politically driven and manifestly unfair.
If it wasn't wrong at the time, with full disclosure, then it shouldn't be punished now.

Ah well.

TIm

[K12AN]

But am I not correct in thinking only if your scheme used FX? Did Edge used FX loans?

No - Edge did not use FX loans.
We declared the loans as a benefit in kind on our P11D forms and paid interest to the HMRC on the loans (which they accepted). The interest was quite significant too!
However, now they want to treat these loans as disguised remuneration...and probably keep the interest which has already been paid on them - as well as charge interest on the 'outstanding amounts' until this is resolved (which could take years and is down to them!).

[Michael J Perry FCA]

Certificates of tax deposit

FULL DETAILS OF THE SCHEME HERE:


HM Revenue & Customs: The Certificate of Tax Deposit scheme

[EdgeSter]

2007 Investiagtion

Hi

I like many didn't realise that Edge had been under investigation since 2007 otherwise I wouldn't have joined and probably like others I left Norla and moved to a different management company with a different scheme. So my question is - Is there a list of schemes that are being investigated by HMRC that I can look at to make sure i'm not on another thread a few years from now???

cheers

[malvolio]

Hi

I like many didn't realise that Edge had been under investigation since 2007 otherwise I wouldn't have joined and probably like others I left Norla and moved to a different management company with a different scheme. So my question is - Is there a list of schemes that are being investigated by HMRC that I can look at to make sure i'm not on another thread a few years from now???

cheers

The quick answer to that is "All of them". Get your own limited or use a genuine UK umbrella. This isn't going to go away.