AML gone quiet

[webberg]

AML have sai this...

Thus far the 2019 loan charge currently has no bearing on PBT arrangements. However will effect EBT arrangements, as you have never entered into such arrangement we believe at present you should be unaffected.

Thoughts??

You are unlikely to have people who know enough to understand the basis of the AML position and the HMRC position, post their thoughts in a public forum.

Part of the problem here is that a firm like AML is likely (in fact has certainly done so) to have taken advice and is using that in good faith to explain their position to potential clients. That's what every commercial firm does. That advice may be correct or not.

HMRC may have the same or a different view. Nobody knows and they're not saying anything that is useful in the context of any particular company or arrangement.

Advisers will have a range of views - you pay your money and take your choice.

[bhand5]

AML response

AML have sai this...

Thus far the 2019 loan charge currently has no bearing on PBT arrangements. However will effect EBT arrangements, as you have never entered into such arrangement we believe at present you should be unaffected.

Thoughts??

[BrilloPad]

Just as i was starting to lose faith in what AML have been telling me for the past couple of years regarding any tax liability i mighy have along comes my new relationship manger from contracting Scout to ask me how im finding my service with Smartpay. Needless to say, i had a few questions to ask. One of which was, how much tax should i expect to pay when the new tax on loan charge law comes into play in march 2019. the answer was none! Could this really be the case or am i being over optimistic if not a bit nieve?? Can anyone suggest any other more telling questions i can put this guy?

If you are still on any sort of scheme, loan, EBT or otherwise, you need to get out asap.

[WalterWhite]

Ask him to put that reply in an email, then see how he wriggles out of THAT question...

This.

If they do, post it on here.

If they won't, run a mile.

[cojak]

Oh, I would advise having no faith at all in AML - when were you last I contact with them?

If you're still in a loan scheme I would get independent advice regarding your liabilities come 2019, not some relationship manager who's bonus depends on keeping as many contractors on his books as possible...

[cojak]

Just as i was starting to lose faith in what AML have been telling me for the past couple of years regarding any tax liability i mighy have along comes my new relationship manger from contracting Scout to ask me how im finding my service with Smartpay. Needless to say, i had a few questions to ask. One of which was, how much tax should i expect to pay when the new tax on loan charge law comes into play in march 2019. the answer was none! Could this really be the case or am i being over optimistic if not a bit nieve?? Can anyone suggest any other more telling questions i can put this guy?

Ask him to put that reply in an email, then see how he wriggles out of THAT question...

[bhand5]

Contracting Scout

Just as i was starting to lose faith in what AML have been telling me for the past couple of years regarding any tax liability i mighy have along comes my new relationship manger from contracting Scout to ask me how im finding my service with Smartpay. Needless to say, i had a few questions to ask. One of which was, how much tax should i expect to pay when the new tax on loan charge law comes into play in march 2019. the answer was none! Could this really be the case or am i being over optimistic if not a bit nieve?? Can anyone suggest any other more telling questions i can put this guy?

[BrilloPad]

Try a search. On google: -
aml site:HMRC Scheme Enquiries

http://forums.contractoruk.com/hmrc-...-smartpay.html

In particular, post 4 from webberg.

Then try this thread: -
http://forums.contractoruk.com/hmrc-...re-notice.html

Which will lead you to: -
http://forums.contractoruk.com/hmrc-...ml#post2434496

[Zander]

Got two letters from HMRC last week regarding self assessment for years 2013/2014 and 2014/2015.They requested details of my partnership with AML during those periods even though AML had already warned me of closure notice for 2014/2015 some weeks ago and stated they had forwarded details of my loan to HMRC.
I did get a mail instructing me to send details of the closure notice to them but since I have the other demands from HMRC have tried to contact AML by phone on 30 occasions from there free phone number to each individual tax advisors direct number and everyone is dead.
Mailed them to no avail and my thoughts are they have bailed out and left us to carry the can.
After sleepless nights and lots of stress will contact HMRC direct but sorry to say my thoughts are AML directors are probably sitting in the Bahamas now sunning themselves leaving us to carry the can
Try there numbers tomorrow if you like unless they are all on holiday