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Loans from EBTs and other Trusts

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    Originally posted by Fred Bloggs View Post
    Well said Webberg. I am not a client of yours and never likely to be. But in this chaotic situation where everyone else who "offered to help" appears to have an agenda which involves milking the greedy/naive scheme users for even more revenue, I find your approach refreshingly honest and open. Other opinions etc are of course available, that is mine and I have no vested interest in saying so.
    Hi,

    I agree with you but that is not my reason for responding. I just wanted to thank you for making me laugh out loud a number of times as I read your "label" / user name & comments. Excellent, I wish I thought of it because it describe me to a T.

    Cheers.

    Comment


      Originally posted by HMRC made Atlas Shrug View Post
      Hi,

      I agree with you but that is not my reason for responding. I just wanted to thank you for making me laugh out loud a number of times as I read your "label" / user name & comments. Excellent, I wish I thought of it because it describe me to a T.

      Cheers.
      Well thank you. In turn, you have brightened my day no end.
      Public Service Posting by the BBC - Bloggs Bulls**t Corp.
      Officially CUK certified - Thick as f**k.

      Comment


        Originally posted by BrilloPad View Post
        There are effectively 2 choices. Pay HMRC or get BG to represent you.

        Personally I think the chances of success against HMRC are very slim. However I said that about NTRT and was proved wrong.
        There are other groups operating who do not trumpet everything on a public forum.

        Comment


          Originally posted by foobar View Post
          There are other groups operating who do not trumpet everything on a public forum.
          Then they should try a different marketing strategy.

          Comment


            Originally posted by BrilloPad View Post
            Then they should try a different marketing strategy.
            Things are moving along just fine.

            Comment


              Originally posted by foobar View Post
              Things are moving along just fine.
              For you or those you represent?

              Comment


                I noticed there are still some loan schemes that exist (e.g. comparetheumbrella.co.uk are a broker for them). They state they are UK based and that they use commercial loans (with a 3%+ interest) to bypass certain issues.

                They also advise they have indemnity in place in the instance the loan should be recalled.

                My question really is, what is really different about these than the ones the finance bill is about? They seem quite adamant that these are structured differently to bypass these new regulations, but how much truth is there.

                I understand there is always the chance in the future HMRC changes things so anything can fall in scope - I guess really I am looking for confirmation whether these brokers are advertising schemes which are actually CURRENTLY in scope of these rules.

                Comment


                  Originally posted by 1manshow View Post
                  I noticed there are still some loan schemes that exist (e.g. comparetheumbrella.co.uk is a front for them). They state they are UK based and that they use commercial loans (with a 3%+ interest) to bypass certain issues.
                  .
                  FTFY - personally any scheme is nowadays in scope and HMRC have enough tools in their armory to ensure you pay the full tax due (and more) when they eventually get round to chasing you x years hence.

                  But go ahead and join a scheme if you want to I've given up protecting the terminally stupid from their own greed.

                  Comment


                    Originally posted by 1manshow View Post
                    I noticed there are still some loan schemes that exist (e.g. comparetheumbrella.co.uk are a broker for them). They state they are UK based and that they use commercial loans (with a 3%+ interest) to bypass certain issues.

                    They also advise they have indemnity in place in the instance the loan should be recalled.

                    My question really is, what is really different about these than the ones the finance bill is about? They seem quite adamant that these are structured differently to bypass these new regulations, but how much truth is there.

                    I understand there is always the chance in the future HMRC changes things so anything can fall in scope - I guess really I am looking for confirmation whether these brokers are advertising schemes which are actually CURRENTLY in scope of these rules.
                    I would ask if if they are currently NOT in scope.

                    HMRC is reeling them all in and they will all definitely come into scope come April 2019.
                    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
                    - Voltaire/Benjamin Franklin/Anne Frank...

                    Comment


                      First party loans

                      Originally posted by cojak View Post
                      I would ask if if they are currently NOT in scope.

                      HMRC is reeling them all in and they will all definitely come into scope come April 2019.
                      I'm being advised that only 3rd party loans are in scope for the 2019 loan change and that it doesn't affect loans classed as first party..Can anyone confirm this?

                      Comment

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