Edge EBT thread

[allbutbankrupt]

If anyone out there has had professional advice and has found a solution other than settling with the HMRC could you please send me a PM. Thanks

You could try S29ers. They deal exclusively with Edge employment.

[webberg]

If anyone out there has had professional advice and has found a solution other than settling with the HMRC could you please send me a PM. Thanks

You need to invest a few hours getting up to speed before you spend any money.

[fgj7899]

Solution???

If anyone out there has had professional advice and has found a solution other than settling with the HMRC could you please send me a PM. Thanks

[Bunnyfuture]

There are a lot of posts here about what has to be supplied to HMRC; what HMRC knows/does not know; speculation about being put onto some sort of radar and the implications.

Be very clear.

The UK has a self assessment system and in almost all cases, the obligation to provide information and data is on YOU.

It is not for HMRC to contact you, chase for information or otherwise advise you of a liability.

It is YOUR obligation to supply data and then to make HMRC work for YOU.

Do not for example, supply settlement data and then leave HMRC to carry on. If they do not get around to finishing a settlement calculation and agreeing the numbers by 5th April 2019, then the loan charge will arise and you will not have any comeback that this is because of HMRC dilatory process.

This legal obligation is why questions on whether you are on HMRC's radar or not are moot.

If you have a reportable position and you choose not to that is your decision, but be aware of the consequences of flouting the law, knowingly or otherwise.

Yes that is understood what you are not covering is I have no reportable position and I choose to go forward

[webberg]

SELF assessment - clue is in the name

There are a lot of posts here about what has to be supplied to HMRC; what HMRC knows/does not know; speculation about being put onto some sort of radar and the implications.

Be very clear.

The UK has a self assessment system and in almost all cases, the obligation to provide information and data is on YOU.

It is not for HMRC to contact you, chase for information or otherwise advise you of a liability.

It is YOUR obligation to supply data and then to make HMRC work for YOU.

Do not for example, supply settlement data and then leave HMRC to carry on. If they do not get around to finishing a settlement calculation and agreeing the numbers by 5th April 2019, then the loan charge will arise and you will not have any comeback that this is because of HMRC dilatory process.

This legal obligation is why questions on whether you are on HMRC's radar or not are moot.

If you have a reportable position and you choose not to that is your decision, but be aware of the consequences of flouting the law, knowingly or otherwise.

[webberg]

thank you - this is really useful - I am in the same boat and I also no longer live in the Uk, i Called my UK bank today to find out if I could get copies of my bank statements and they told me that the law states they only have to hold records going back 6 years - 2009 and they hold no more than that. I had no loan from 09 on wards.
I am going to register shortly, one accountant told me you could request all the information that HMRC hold on you however another told me that is not going to work as they want the info from you. I am at a loss. thanks again

Both statements are correct.

You can make a subject access request to HMRC for all the information they hold on you. That does not have to be related to the settlement or any other action.

If you want to settle then you have to supply HMRC with the raw data on loans etc so that they can do the calculation. This has to be done before the end of September.

[Bunnyfuture]

Spoke to HMRC today - just the standard call centre.. They told me that the best thing to do is to reply to the automated email requesting the detail I have on the details of the scheme but telling them on what dates I have called, the fact I have not received a call back yet and also that I have no records then at least I don't get hit with the loan charge as I am actively trying to resolve it. They told me that the experts will call me back probably within 3 weeks so I am not expecting a swift response... Will respond when I do

thank you - this is really useful - I am in the same boat and I also no longer live in the Uk, i Called my UK bank today to find out if I could get copies of my bank statements and they told me that the law states they only have to hold records going back 6 years - 2009 and they hold no more than that. I had no loan from 09 on wards.
I am going to register shortly, one accountant told me you could request all the information that HMRC hold on you however another told me that is not going to work as they want the info from you. I am at a loss. thanks again

[demby]

Does anyone know if Green Bay Consulting was before Edge Consulting or was it vice versa ?

If any one has details of the fees Norla used to charge around 2004 for contractors using the Green Bay / Edge EBT, pls kindly let me know. A private message will be fine too

I think they were 10% - raised to 12 maybe 12.5 around 2008

[bstar1]

Does anyone know if Green Bay Consulting was before Edge Consulting or was it vice versa ?

Before

[Oraclesolutions]

Does anyone know if Green Bay Consulting was before Edge Consulting or was it vice versa ?

If any one has details of the fees Norla used to charge around 2004 for contractors using the Green Bay / Edge EBT, pls kindly let me know. A private message will be fine too