Reply to: HMRC enquiries for EBT/loan schemes managed by Montpelier

[TheFlyer]

If the scheme is not DOTAS, then no APN (for the moment).
If you have not had an enquiry letter/discovery assessment, no liability for periods before 2011/12.
If you remain worried about interest (3% pa) put the cash "by" in the form of a Certificate of Tax Deposit that will effectively stop the interest accruing.
No idea about 08/09 onwards on your scheme

So if no enquiry for April 2009 to April 2011 you are ok? After that I assume the laws changed and you can be done, is that correct? Is that what you are saying? What if you were investigated for other years prior to this on another scheme? Cheers.

[webberg]

So what if you done the MTM loan scheme and never heard anything from HMRC?

If you have no enquiry open, join neither.

[webberg]

From what I have asked and found out, the loan scheme is not DOTAS registered and they we are not been done at the moment. To be honest I have no idea. All I can do is try and raise the money and put it by I guess. Thing is the accruing interest on it that is a real issue. Someone told me once that 2008/2009 was OK on the loan scheme, and it is the years after that where they will get you. Any idea if that is true or not?

If the scheme is not DOTAS, then no APN (for the moment).
If you have not had an enquiry letter/discovery assessment, no liability for periods before 2011/12.
If you remain worried about interest (3% pa) put the cash "by" in the form of a Certificate of Tax Deposit that will effectively stop the interest accruing.
No idea about 08/09 onwards on your scheme

[TheFlyer]

Or both.

If MTM is free and BG cheap, why not do both?

So what if you done the MTM loan scheme and never heard anything from HMRC?

[webberg]

so NTRT doing a fab job with the BN66 stuff ...but for the loan scheme with MTM ... should we be joining the BIG GROUP .. or stick with MTM ?

Or both.

If MTM is free and BG cheap, why not do both?

[TheFlyer]

So, your saying that you're not under enquiry for any year you were in the loan scheme, or those you know who were also in the scheme? I thought that following being caught by S58 you'd automatically have enquiries opened for each and every subsequent year.

From what I have asked and found out, the loan scheme is not DOTAS registered and they we are not been done at the moment. To be honest I have no idea. All I can do is try and raise the money and put it by I guess. Thing is the accruing interest on it that is a real issue. Someone told me once that 2008/2009 was OK on the loan scheme, and it is the years after that where they will get you. Any idea if that is true or not?

[WelshRarebit]

So, your saying that you're not under enquiry for any year you were in the loan scheme, or those you know who were also in the scheme? I thought that following being caught by S58 you'd automatically have enquiries opened for each and every subsequent year.

[TheFlyer]

'BIG GROUP is ONE GROUP across ALL schemes.

It does not impact action individuals may wish to take on their own or via other groups.'

See here: http://forums.contractoruk.com/hmrc-...ml#post2085724

I've had nothing other than being put under enquiry. Not even a letter about the settlement opportunity.

Enquiry for what year or years? If you don't mind me asking. Reason I ask all this is none of the others I know that did the loan scheme have had anything, but all done for been on the income scheme upto 2008.

[WelshRarebit]

What is the Big Group doing?

Has anyone with MtM on the loan scheme had a letter about it? As in any kind of investigation letter?

'BIG GROUP is ONE GROUP across ALL schemes.

It does not impact action individuals may wish to take on their own or via other groups.'

See here: http://forums.contractoruk.com/hmrc-...ml#post2085724

I've had nothing other than being put under enquiry. Not even a letter about the settlement opportunity.

[TheFlyer]

I'm joining 'Big Group' now just in case Monty go belly up at some point in the future. I don't want to find that the Big Group drawbridge is up at that stage. Should the brown stuff not actually hit the fan then I will have helped others shaft it to Hector , it's small change at the moment.

What is the Big Group doing?

Has anyone with MtM on the loan scheme had a letter about it? As in any kind of investigation letter?

[WelshRarebit]

I'm joining 'Big Group' now just in case Monty go belly up at some point in the future. I don't want to find that the Big Group drawbridge is up at that stage. Should the brown stuff not actually hit the fan then I will have helped others shaft it to Hector , it's small change at the moment.

[CanPayButWouldRatherNot]

big group ?

so NTRT doing a fab job with the BN66 stuff ...but for the loan scheme with MTM ... should we be joining the BIG GROUP .. or stick with MTM ?

[the great escape]

First I have heard of that. It just get's worse. What is this about IHT? Has anyone been written to about 2008/2009 ?

I think it's something to seek advice from Monty on. I will try to contact this week to find out.

[TheFlyer]

Does anyone know where us pre-Dec 2010 lot stand with regards to Inheritance Tax (IHT) on these loans? Is that a nightmare within a nightmare?

First I have heard of that. It just get's worse. What is this about IHT? Has anyone been written to about 2008/2009 ?

[the great escape]

Does anyone know where us pre-Dec 2010 lot stand with regards to Inheritance Tax (IHT) on these loans? Is that a nightmare within a nightmare?