HMRC enquiries for Schemes through ASMG / White Collar

[notsofun]

So for those that haven't received APN's - will they still get an opportunity to settle after this end of June deadline. I'm planning on saving over the next 2-3 years but would rather wait until there's a demand for payment, also they may change their mind as to how much we owe?

hey guys, just trying to catch up with all this.

Can I ask what the end of June deadline is? I am not aware of this, I thought the settlement opportunity was till Jan 2015.

[notsofun]

I got as far filling out the paperwork and paying 1200 to MYFD, before realising that there was something fishy going on.
After asking of money back, I not only received a call from WCF a few minutes later, but they have not returned my cash.

Thieves, I tell you.

Hey mate, what was the 1200 to MYFD for? I thought they operated on a monthly charge.

[bluemonkey71]

Hey mate, what was the 1200 to MYFD for? I thought they operated on a monthly charge.

They do operate on a monthly charge if you swap accountants and use them instead.
if you want to keep your current accountant then its a £1200 fee.

[holymoly23m]

They do operate on a monthly charge if you swap accountants and use them instead.
if you want to keep your current accountant then its a £1200 fee.

And if you walk away? Ce'st la vie? What happens if as part of BIG or even individual defence we need access to documentation only WC (of myFD) has access to?

[njwilli3]

hey guys, just trying to catch up with all this.

Can I ask what the end of June deadline is? I am not aware of this, I thought the settlement opportunity was till Jan 2015.

The extension to the deadline is explained here:
https://www.gov.uk/government/public...re-information

I'm not sure who it exactly applies to, I only received my first letter saying they had discovered unpaid tax back in March. So not even sure if this applies to me or just people with APNs?

[chathan]

MyFD Option ..

Hi all,

Just like many here, I also got a call from WC mentioning about myfd followed by an email. I have a settlement notice from HMRC (I don't really know whether this is called APN too!). On the face of it, it looks like I am asked pay money for a service which I have already paid for. I was with WC (then ASMG) only for 20 months and come out of them in 2010. From speaking to them again yesterday, looks like they are not going to take up our case, if we didn't take this offer. Any help in taking the decision to opt in for this service will be appreciated.

I was told, the fee will be £1,200 which will only take up to a tribunal, that is, if it ever happens.

Many Thanks,

[Romano]

Hmmmm

Taken from the link above from HMRC

Many customers and their advisors are aware of decisions such as Murray, Dextra and Sempra, which considered whether loans to employees from their employer’s EBT were taxable as earnings. In these cases, it was found that the loans were not taxable as earnings - although the Murray case is not yet final and remains to be decided. All 3 cases involved different arrangements with different sets of facts. In particular, none of these cases involved offshore employers and so none of these cases consider the Transfer of Assets rules on which CLSO is based. We consider that our position using Transfer of Assets rules is very strong. However, we also consider that we have good reasons to suggest that the income you have received as loans is taxable as earnings in the same way that your salary element is.

I am no expert but it seems HMRC are pinning their case on the text in red. Surely everyone that used WC are in the same boat, I would like to know if, in fact, the text in red affects us as claimed by HMRC or doesn't.

[holymoly23m]

Taken from the link above from HMRC



I am no expert but it seems HMRC are pinning their case on the text in red. Surely everyone that used WC are in the same boat, I would like to know if, in fact, the text in red affects us as claimed by HMRC or doesn't.

I am also no expert, but this is also nuanced against EU law. Namely the freedom of transfer of capital within member states. I believe that TOAA cannot be applied if it it can be proved that the transfer was for commercial reasons, and not solely for tax purposes. So if it can be proven that the transfer was commerical in nature, I believe there is also a provision that the transaction must be "arms length".

Again, I am in no way an expert, just my reading. I also have no idea on the specifics of any scheme which may relate to this.

[webberg]

Hi all,

Just like many here, I also got a call from WC mentioning about myfd followed by an email. I have a settlement notice from HMRC (I don't really know whether this is called APN too!). On the face of it, it looks like I am asked pay money for a service which I have already paid for. I was with WC (then ASMG) only for 20 months and come out of them in 2010. From speaking to them again yesterday, looks like they are not going to take up our case, if we didn't take this offer. Any help in taking the decision to opt in for this service will be appreciated.

I was told, the fee will be £1,200 which will only take up to a tribunal, that is, if it ever happens.

Many Thanks,

You have options. myFD don't have a monopoly on this scheme and no special knowledge that makes them more likely to get to a solution acceptable to you.

See other threads on connections between WC and myFD which may explain some issues.

Ask myFD EXACTLY what they are going to do and ask to see an engagement letter which should explain it. If you're not happy with it, look at Google for tax enquiry specialists.

[Romano]

Assessment only

Hi all, so I just re-checked my docs and it looks like I have 2 assessments (08/09 and 09/10), I also have letters from HMRC to say they have received my appeals and have postponed action while they conduct a review (even though they still believe I owe them the money).

Does that mean then that I just wait to find out the results of this review (whcih may or may not be linked to ongoing cases in the courts at present?)??