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Recent content by goldfish
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Loan write-off and IHT - tax reliefs
I am considering having EBT loans written off by the trustees. HMRC's position is that the trust is s72 and IHT when the loans are written off. Are there any tax reliefs available for IHT (e.g. voluntary pension payments, SEIS/EIS)? Is the IHT payable immediately or is it included in the...- goldfish
- Thread
- Replies: 1
- Forum: HMRC Scheme Enquiries
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HMRC contract loan charge letter - no details of scheme?
Thanks for the quick replies. I've been a permanent employee or self-employed (directly invoicing) for many years, and prior to that used a limited company, with the exception of a few months in 2005 and a further few in 2007. Until the letter arrived last week, I had no knowledge of changes...- goldfish
- Post #4
- Forum: HMRC Scheme Enquiries
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HMRC contract loan charge letter - no details of scheme?
I haven't contracted for many years but recently received a letter from HMRC dated 10 July regarding contractor loans "I am writing to you as I believe you've used a tax avoidance scheme..." There no details in the letter of the scheme, dates, or anything else specific to my tax history. Is...- goldfish
- Thread
- Replies: 4
- Forum: HMRC Scheme Enquiries
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EBT HELL: Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS
Contact details for Optimus Contact details for Optimus Can anyone provide an email address for Optimus? I realise I am coming to this rather late having not contracted for many years and only found out about HMRC action on contractor loans when I received a letter from them (HMRC). I've...- goldfish
- Post #315
- Forum: HMRC Scheme Enquiries
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Self-employed - tax and financial actions needed?
It was last tax year, in October.- goldfish
- Post #6
- Forum: Accounting / Legal
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Self-employed - tax and financial actions needed?
Thanks all! The expenses guides are very help, and I keep my receipts so that should be fine. I haven't set up a separate account yet, but that's a good idea so the business and personal transactions are kept separate. I'd be paying personal expenses from my personal account but receiving...- goldfish
- Post #5
- Forum: Accounting / Legal
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Self-employed - tax and financial actions needed?
I've recently returned to work and I am currently a self-employed advisor. I am working with a client but there are no pre-agreed hours or days in our contract - we agree on the work depending on what they need and my availability. I invoice at the end of each month and they pay me a...- goldfish
- Thread
- Replies: 5
- Forum: Accounting / Legal
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Norla EBT Loan Scheme
Hey scott_free, any updates on your situation? I'm trying to get my loan written off (I would rather pay PAYE on it than have it hanging over my head) but the trust are refusing to do it. What is happening with you? Does anyone else know whether the trust is able to do this, and if so how I...- goldfish
- Post #29
- Forum: Accounting / Legal
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Norla EBT Loan Scheme
Okay, I'm trying to read the HMRC manual and taking out the extra words to make it clearer, I can see this: The release or writing off of a loan made to an employee is still chargeable if it takes place after he has ceased to be in employment falling within the benefits code. Instances of an...- goldfish
- Post #28
- Forum: Accounting / Legal
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Norla EBT Loan Scheme
Outcome? Outcome? Hi contractor58, what did you end up doing? I'm in a similar situation. I left the offshore company after six months to go ltd, but now have a loan hanging around as well. I'm keen to get it resolved - would be great to find out what you did. Goldfish- goldfish
- Post #13
- Forum: Accounting / Legal
