Reply to: HMRC Enquiries for BestPay schemes

[piebaps]

Cat - see the links in #14 and have a read of the thread. Its generic stuff, but should give and idea of the nature of the issue. You probably need specialist advice. I'm not part of Big Group so can't recommend it however many are and webberg and his crew generally get good press on here, so it may be worth some of your time to make enquiries.

[Cat]

Redstone Loan

Hi I have received a letter fro HMRC Avoidance Counter they have asked for loan details - but I don't have any. I asked Redstone. They said they would call but to date nothing.

Can anyone explain the loan to me? What is my liability to Redstone? What happens if I pay HMRC am I still liable to Redstone. What has happened to the money I earned? How much tax can HMRC ask for?

I only worked for Redstone for 12 months.

Please help

Cat

[eek]

And see the advice in http://forums.contractoruk.com/hmrc-...ills-hmrc.html especially http://forums.contractoruk.com/hmrc-...ml#post2385712

[Juniper1]

Speak to WttConsulting

[cladun]

Opus

I had a demand for £35k after they reassessed my 2012-13 return on the basis I had been remunerated by loans . Their figures are massively over by 2.5 times but v worrying as obviously similar letters will follow for next tax years.

Opus have appointed someone to deal for now but as their website has been removed I fully expect the company to be dissolved soon and have noted that the director has set up numerous new companies

[regron]

MJP the always as ever bearer of positive news and opinion.....NOT and is still yet to answer questions thrown at him, the last time he appeared and posted what seemed to be incorrect information

At what point did the OP mention a COP 9 investigation ?

Go drum up business by scare tactics elsewhere please

[Michael J Perry FCA]

Bestpay and others

Some of these companies offering tax saving pay schemes may be illegal under IOM law.

We are seeing cases where HMRC are opening investigations into individual contractors that used these schemes under Code of Practice 9 where fraud is suspected. There is a possibility of criminal prosecution.

Anyone still in any of these schemes should terminate the arrangement immediately in our opinion.

[Old Kent Road]

You can get ir35 insurance, which will pay for legal cover for an hmrc investigation and also cover the tax amount if you lose the case.
But my insurance provider would not cover Hmrc enquiries relating to tax avoidance schemes.
So you may need to check whether the cover applies to any Hmrc enquiry or only some types.

[nelmo]

I had a mail back from the scheme accountants - they are looking into it, they say.

I was thinking of standard legal insurance for if I want to challenge HMRC. Looking at the small-print for one large firm, they do cover HMRC investigations costs but only if you're self-employed, a sole trader and something else I can't recall - not sure if I count as any of those.

[Old Kent Road]

Doubt you'll get legal insurance if you're already being investigated.
Keep us posted on how helpful bestpay are... If they're like most of the other schemes they will be around for a few more month's max..

[nelmo]

Apologies, not sure how I missed that

I've contacted them asking for some scheme details if i need them later and they at least replied to say they have passed the request on to their accountants - not sure if that is for real but time will tell....

Is it worth getting legal insurance in case this goes further? Is there any legal policy that will cover it?

[cojak]

I've moved this to it's own thread as it does not appear to be a Sanzar scheme.

OP - please read your details more carefully.

[cojak]

Ah, here's a reference to them...

http://www.gov.im/lib/docs/odps/en_s...ited_jan20.pdf

[cojak]

It actually says Salazar Consulting.

That's a new one...

[Old Kent Road]

It actually says Salazar Consulting.