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Recent content by Ex Contractor
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Trust Fees for settling loans
I thought as the loan was technically still outstanding that the loan charge would apply. I know I've settled, but it would not surprise me if they tried to charge me twice. This is pretty much what they're doing with s223. I didn't quite understand it in my previous posts, but what they want...- Ex Contractor
- Post #70
- Forum: HMRC Scheme Enquiries
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Trust Fees for settling loans
Thanks for the reply. I've settled with HMRC and IHT was included (almost £10k). They said that they would expect the trust to be closed down and the loan written off within 3 months of settling. I thought I had to do this to avoid the loan charge. Is that correct?- Ex Contractor
- Post #68
- Forum: HMRC Scheme Enquiries
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Trust Fees for settling loans
I've just received my quote for closing my trust - £5,340 inc VAT !! When I setup this EBT 10 years ago I specifically asked if there would be any further charges from the trustees. Twice I asked the question and twice they said no, as the fees were more than enough to pay the trustees for the...- Ex Contractor
- Post #66
- Forum: HMRC Scheme Enquiries
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s223 - £190,000 charge ON TOP OF my settlement
My tax adviser said they had over 300 clients register an interest in fighting s223, but a large number have dropped out, so the defence may not go ahead. HMRC are trying to take me for every penny I've got. I've just started a new business and it looks like it will be finished before it even...- Ex Contractor
- Post #15
- Forum: HMRC Scheme Enquiries
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s223 - £190,000 charge ON TOP OF my settlement
No I've not heard of that, I will look into it. I've been getting ongoing advice from the company I paid for my EBT defence. They had planned on taking this to the first tier & the upper tier tribunal for a nominal fee and then if it came to it, group funding the defence at the court of appeal...- Ex Contractor
- Post #11
- Forum: HMRC Scheme Enquiries
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s223 - £190,000 charge ON TOP OF my settlement
Yep, Premier & Tenon got out of the game years ago. Premier took my £65k in fees with them when they dissolved. I was told that most of that money was set aside for their fighting fund. They decided not to fight and just pocket the money.- Ex Contractor
- Post #7
- Forum: HMRC Scheme Enquiries
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s223 - £190,000 charge ON TOP OF my settlement
Premier Strategies/Tenon- Ex Contractor
- Post #5
- Forum: HMRC Scheme Enquiries
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s223 - £190,000 charge ON TOP OF my settlement
It's something to do with the company having paid the director's tax bill. In one of the HMRC communications they said something like - The tax scheme you've entered into has resulted in double taxation, or words to that affect.- Ex Contractor
- Post #3
- Forum: HMRC Scheme Enquiries
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s223 - £190,000 charge ON TOP OF my settlement
I've searched the forum and can see no mention of s223. Does this not affect contractor schemes? Just over 10 years ago I gave up contracting and started an Internet business which did really well for a few years and then income dropped back to normal levels. As I was holding a lot of cash my...- Ex Contractor
- Thread
- Replies: 17
- Forum: HMRC Scheme Enquiries
