Edge EBT thread

[cojak]

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.

What Mal says with bells on.

It's Ltd or a normal UK umbrella for everyone now.

And if you're worried about IR35 that's reduced to just normal UK umbrellas.

[K12AN]

Forgive me if I'm wrong here - please feel free to clarify or jump in..

Edge aren't/weren't the trustee's who granted the loans...it was Tenon Group (Karen Gough) - who have merged with Baker Tilley and are still active. Shouldn't they be fighting for us? They still own our debt? Should we be consulting with them?

[sl4]

Forgive me if I'm wrong here - please feel free to clarify or jump in..

Edge aren't/weren't the trustee's who granted the loans...it was Tenon Group (Karen Gough) - who have merged with Baker Tilley and are still active. Shouldn't they be fighting for us? They still own our debt? Should we be consulting with them?

That's one of the differences compared to other schemes etc.

There were independent entities acting at their own discretion and without obligation.

[Ron Swanson]

Forgive me if I'm wrong here - please feel free to clarify or jump in..

Edge aren't/weren't the trustee's who granted the loans...it was Tenon Group (Karen Gough) - who have merged with Baker Tilley and are still active. Shouldn't they be fighting for us? They still own our debt? Should we be consulting with them?

Could I not proactively contact Tenon Group / Baker Tilley Karen Gough and start repaying my loan debt - say at £1 per week - wonder what that would do to the HMRC case

[convict]

Could I not proactively contact Tenon Group / Baker Tilley Karen Gough and start repaying my loan debt - say at £1 per week - wonder what that would do to the HMRC case

I was also curious about setting up a reasonable repayment schedule with them...is this feasible?

You do realise HMRC read these threads don't you?

[K12AN]

Is contacting the loan provider and arranging a repayment schedule feasible?

[FHP143]

[QUOTE=K12AN;1851261]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).

We didn't pay "interest" on the loans, it was benefit-in-kind tax that was paid on them. The loans didn't have any interest applied which is why they attracted benefit-in-kind tax in the first place.

[FHP143]

Forgive me if I'm wrong here - please feel free to clarify or jump in..

Edge aren't/weren't the trustee's who granted the loans...it was Tenon Group (Karen Gough) - who have merged with Baker Tilley and are still active. Shouldn't they be fighting for us? They still own our debt? Should we be consulting with them?

This isn't correct either, Tenon stopped being the trustees of the Edge trust a long time ago. The last trustees of the Edge EBT were a crowd called Mapatui

[K12AN]

Does anyone have the contact details of Mapatui?
The trustees are obliged to act in the best interests of the employees/former employees - so should they not be defending us and their loans to us?

Our loans are still outstanding and with Mapatui and so it would be nice to hear their thoughts on all this...

[FlyingIT]

Query

Hi Tim,

If you have appealed both reassessments - why then would you still transfer the quoted owed amount? is that agreeing to what HMRC are demanding whilst still appealing it?

Thanks for explaining.
FlyingIT

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