Edge EBT thread

[convict]

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

That's like saying all Vauxhalls or even all cars should be taken off of the road because they found a design fault in a 1998 Vauxhall Cavalier, a model no longer in production. Classic HMRC propaganda

[JHW]

Treatment of Benefit In Kind in HMRC Recalculations

Everyone on this scheme would have been paying tax as a benefit in kind on the zero interest of these loans.

It appears to me that although HMRC are now trying to state that these loans should be taxed as income, they are also still including the benefit in kind amounts in their calculation of the overall income as they see it in their revised calculations. Surely these amounts are either income or loans and they cannot tax us both ways?

Am I being thick and not understanding the calculations? Or is there some law that I'm unaware of which of which says they can do this?

I think this applies to their 2008-9 recalculations, but is even more apparent in the 2009-10 recalculations as the benefit in kind is cumulative across years. It will be even worse for those expecting 2010-11 letters.

I am sure I must be wrong as no one else seems to have raised it, but it is continuing to bug me.

Any explanation appreciated. Thanks.

[mrwibble]

Mearly another usage of EBT and HMRC winning their case, i'm pretty sure a good lawer would be able to claim some kind of connection and thus precedent.

[mrwibble]

hmrc currently change 3% pa. I use/used AA as my accounts, because I received the warning letter in 09 from hmrc, their response now is "we are no longer associated with Edge," so basically your on your own. As far as I'm concerned we have all been taken for a ride, lots of empty promises.

[stoneman]

New Joiner

Hi All,
I was also employed by Edge for a few years and have just received my letter for 09/10 tax year so would like to get advice and join the forum.

Could I also be granted PM rights to make contact for the group engagement.

[ffs]

advice welcome

Hi
I have only recently received Notice of Assessments from HMRC and am now entering the nightmare scenario many of you are already going through.

There are a lot of posts and information I need to go through and digest but until I am up to speed please include me in any PMs, group actions or information updates.

From the posts I have read - ADMIN, please grant me PM rights to communicate off page

Thanks all

T

[Markn99]

Another new joiner

I was also employed by Edge for a few years and have just received my letter for 09/10 tax year so would like to get advice and join the forum.

Could I also be granted PM rights to make contact for the group engagemen

[Tweedle]

Me too..

Have been watching this thread since 08-09 notice of assessment dropped through my letterbox in Feb., have just had 09-10 and 10-11 notices. Has anyone else had the issue that HMRC are picking different figures from the info available to them (P11D) every time, and the figures in their calculations and letters don't match?
Have followed standard path - advice from Edge, accountant and this thread - and appealed to all 3. Found out last week Edge are no more, though Michelle is still offering her "personal advice".
I'm now looking to get more professional advice and just wanted to ask if anyone out there has tried the Tax Advice line of the PCG?
Have requested PM rights, would like to know if anything came of the collective fund to get group representation...

Like many of you, I don't feel I've done anything wrong, I've acted within the law and with best intentions at all times - I'm an IT contractor, not a lawyer or tax specialist and therefore took advice from those I believed were better informed in these matters. I'm happy to fight this as far as possible. HMRC's aim appears to be to bankrupt as many contractors as possible, if they have so much spare cash to take us all to court, makes me wonder what they need my extra funds for?!

[K12AN]

Hell all

I've received my letter from HMRC on Friday requesting payment for 2009/10 and 2010/11.
I responded to the previous 2008/2009 one eariler this year with the template which Edge sent me.
I have the following questions:

1. Considering that Edge are no longer around or offering support, is it recommended that I just send the same response again for the subsequent years? Are there any edits which need to be made?
2. Has anyone sent this template back for the recent years (2009-2010/2010/2011) and had a response from the HMRC yet?
3. Is it simply a case of sending the response and then playing the waiting game again to see how other cases pan out?

From my understanding eariler this year, many are of the opinion that those who were employed by Edge should 'wait and see' how other legal cases against the HMRC are settled. But, all of the cases are different. Some involve loans, shares, transfer of assets etc.
The reason I joined Edge was because the loans from the EBT which were paid to me were declared on my tax from and I paid for the BIK on these loan - which the HMRC accepted. Has the HMRC won any cases against an employer offering a similar EBT structure to Edge?

I'd also like to be included in any group representation, so please add me to any ADMIN groups needed to send PMs.

[RichieJ]

09/10 Demands

I was also employed by Edge for a few years and have just received my letter for 09/10 tax year so would like to get advice and join the forum.

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