AML 2019 Loan Charge

[howcanigetyoualoan]

Has anyone in the AML PBT scheme successfully settled and had their loan written off by the trustees within 90 days such that IHT requirements were met? How did you go about doing this?

[Dundeegalaxy]

I am still with SP Management, and I got the emails. Advise your friend not to submit any more timesheets to SPM and go Ltd or via a cooperative umbrella - WTT partner with a coop - see their website.

I am with SP Management via my own Ltd Company and they claim what they are doing is not affected by the Loan Charge 2019.

Whereas when I was with PCL from July 2015 to October 2016 it was...

[Runster]

I am with SP Management via my own Ltd Company and they claim what they are doing is not affected by the Loan Charge 2019.

Whereas when I was with PCL from July 2015 to October 2016 it was...

Yes, they said that to me also. I spoke with WTT - they disagree. SP management have asked me to sign a new contract which looks dodgy, and that they can’t pay me any loans (about 3 weeks work) until I sign it. Anyone else seen this new contract?

[upyourskirt]

AML Management Ltd

AML Management Ltd
Published on: 09 April 2018
Notice is hereby given that AML Management Ltd, which was Registered under the Designated Businesses (Registration & Oversight) Act 2015, has been de-registered in accordance with 12(1)(a) with effect from 9 April 2018.

[jazzyg]

Yes, they said that to me also. I spoke with WTT - they disagree. SP management have asked me to sign a new contract which looks dodgy, and that they can’t pay me any loans (about 3 weeks work) until I sign it. Anyone else seen this new contract?

Get out as soon as you can..Stop dealing with these clowns..They make tall claims and then send emails to settle and pay them even more money!!

[pateen]

I am with SP Management via my own Ltd Company and they claim what they are doing is not affected by the Loan Charge 2019.

Whereas when I was with PCL from July 2015 to October 2016 it was...

I was in a similar scheme but I feel its only a matter of time before the Ltd Company will also be chased

[Dundeegalaxy]

I was in a similar scheme but I feel its only a matter of time before the Ltd Company will also be chased

Moving to a more reliable system today! Despite it being claimed to be 'ok' don't trust it!

[Seumas]

Worried re options.

If the trustee is reluctant you can always ask the IOM Regulator to chivvy them along.

I obviously can't comment on PTS. There are a number of advisers in this space or as you say, you can do a lot of it yourself.

Good Afternoon Webberg. May i ask if you are able to comment. I have read many of the posts on here this morning. I spoke with Vanquish who directed me to PTS. They mentioned a change of practice by Smartpay in April 2016 which changed the tax position. Are you familiar with what Vanquish mean?

[jazzyg]

Good Afternoon Webberg. May i ask if you are able to comment. I have read many of the posts on here this morning. I spoke with Vanquish who directed me to PTS. They mentioned a change of practice by Smartpay in April 2016 which changed the tax position. Are you familiar with what Vanquish mean?

Whatever AML and associates tell you is a load of Bull...You can see from experience of countless people here and elsewhere.

[webberg]

Good Afternoon Webberg. May i ask if you are able to comment. I have read many of the posts on here this morning. I spoke with Vanquish who directed me to PTS. They mentioned a change of practice by Smartpay in April 2016 which changed the tax position. Are you familiar with what Vanquish mean?

I'm aware that the law changed in 2016 and as a result a number of changes were made to a number of schemes.

As to whether this was a catalyst for any changes SmartPay may have made, I'm unable to comment as I was not asked to advise and have seen no materials that might indicate the underlying reasons.