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Recent content by burnside
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AML 2019 Loan Charge
There is no may about it. This is what PTS sent me in relation to fees; Engagement/Joining Fee - £250 Preparation & Submission of Settlement documents to HMRC - £500 15% on any saving achieved in the final settlement- burnside
- Post #23
- Forum: HMRC Scheme Enquiries
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AML 2019 Loan Charge
I've requested details to be emailed to me, that was on Friday and nothing yet. PTS also rang me and asked if I had made contact with Vanquish, I said I had and requested details of their proposal, PTS said they would chase for me. Wouldn't be at all surprised if PTS, Vanquish and AML all share...- burnside
- Post #8
- Forum: HMRC Scheme Enquiries
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Legitimate Expenses
Hence the "stupid question" part. But was wondering whether any conversations with HMRC have touched on this point?- burnside
- Post #3
- Forum: HMRC Scheme Enquiries
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Legitimate Expenses
Apologies if this has been covered before and almost certainly a stupid question, but given that the scheme enquires, DR charge, etc. are to ensure that we pay what HMRC see as the 'correct' amount of tax, shouldn't we be able to offset legitimate expenses against any tax charges/settlement, be...- burnside
- Thread
- Replies: 2
- Forum: HMRC Scheme Enquiries
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AML IOM ~ smartpay
I first asked for copies of my loan agreement and contract of employment with them from 2010/11 in mid January, always get a response saying that will send over asap but as they had been archived may take a few days, I have chased every week since, this is the response I get each time; "I have...- burnside
- Post #19
- Forum: HMRC Scheme Enquiries
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Contractor Loan Scheme - Repayment Request Post/Durinh Settlement
The OP stated that his had, although he doesn’t say if this was a trust- burnside
- Post #7
- Forum: HMRC Scheme Enquiries
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Contractor Loan Scheme - Repayment Request Post/Durinh Settlement
So the money that you earn goes into their bank account, they loan you a percentage back (minus their admin fee) you then have to pay HMRC tax and interest and then the trust demands you pay the loan back to them....even though it was your money in the 1st place. Man, just how did so many of us...- burnside
- Post #3
- Forum: HMRC Scheme Enquiries
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Clso2 - anyone??
What about for 14/15 and 15/16, do they have those rates as well? Although I'm going have a stab at 6.2% and 3.2%- burnside
- Post #25
- Forum: HMRC Scheme Enquiries
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Clso2 - anyone??
True, but I asked for an indicative figure based on the loans that I have received and they know about, but I should be able to calculate that myself based on a 40/45% split. The CLSO figure is the more difficult one for me mainly due to the late payment interest they will be charging.- burnside
- Post #23
- Forum: HMRC Scheme Enquiries
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Clso2 - anyone??
I registered my interest in CLS02 2 weeks ago when responding by email to a request for loan statements, (frustratingly one that I had previously send them!), I asked them for a figure for CLS02 and for the LC19. Not heard anything, didn't even get confirmation of my email. So I will write to...- burnside
- Post #20
- Forum: HMRC Scheme Enquiries
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HMRC Enquiry letters on Loans from EBT and other schemes
CLSO seems like the least worst option but I'm seeking advise on that, whichever way I go though life is going to get very difficult for me very fast- burnside
- Post #1,482
- Forum: HMRC Scheme Enquiries
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HMRC Enquiry letters on Loans from EBT and other schemes
That was also my impression, until I read this thread https://forums.contractoruk.com/hmrc-scheme-enquiries/125254-how-far-will-hmrc-pursue-debt-if-you-dont-pay-apn-3.html In particular this link...- burnside
- Post #1,479
- Forum: HMRC Scheme Enquiries
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What is the 2019 Loan Charge?
But even final may not be final as they could still impose IHT. Is it too much to ask just for a final figure that closes this mess?- burnside
- Post #290
- Forum: HMRC Scheme Enquiries
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What is the 2019 Loan Charge?
Ok, that changes my high level calculations then. So if you agree to settle under CLS02 you get interest added but you don’t under the Loan Charge, but could pay higher rate of tax (40 and 45% as opposed to 20 and 40%) is that right? I guess there will be a fine line between the 2 on what our...- burnside
- Post #288
- Forum: HMRC Scheme Enquiries
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What is the 2019 Loan Charge?
Excuse my ignorance but I thought that no interest was payable under CLS02, and this was one of the main benefits of going down this route rather than LC19, or have I completely misunderstood that? Late payment interest is due for protected years. No late payment interest will be payable on...- burnside
- Post #286
- Forum: HMRC Scheme Enquiries
