Contractor Loan Scheme - Repayment Request Post/Durinh Settlement

[AL1990]

Aside from the incident mentioned, we have not be made aware of any formal requests for loan repayment.

We have had discussions with lenders who mention that repayment is an option, but none of these has manifest as a real demand.

We have seen proposals from some promoters and their connections that a repayment followed by a subsequent arrangement will result in the DR charge 2019 being avoided. Not a course we recommend.

For the avoidence of doubt, they had made a request and not a demand for repayment. Having spoken with them now I have been given verval assurance that they will never seek repayment for these loans and that their request was for people wishing to stay in the scheme.

I know that is in no way legally binding but it should help me sleep for the foreseeable and continue my focus with solely settling with HMRC.

Edit to add: While im happy to recieve PMs from people i am not willing to disclose details of the scheme publically or privately.

[webberg]

I think the statement probably demonstrates why:

a. HMRC think that the payments are really income

b. you should be very, very careful about statements made by promoters

I now know which scheme is involved here. I would recommend that you get in writing a confirmation that the loan will never be:

i. recalled
ii. sold to a third party who may recall it
iii. not be able to recalled by a liquidator of the lender

[luxCon]

FAO Admin

Dear Admin

Could you please delete this thread and replies as it adds no value and only goes on to create anxiety and lots of noise.

Thanks

[AL1990]

Dear Admin

Could you please delete this thread and replies as it adds no value and only goes on to create anxiety and lots of noise.

Thanks

Seconded. I tried to delete myself to no avail.

[cojak]

No.

It may help others.

I will lock it however.