AML 2019 Loan Charge

[Dv8]

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.

Hi, new here and this is my first post.

I've read as much as I can digest for now after receiving the emails from AML and CK. The emails basically pointed me in the direction of PTS (in the case of CK) and Vanquish (in the case of AML).

CK have been extremely unhelpful, giving me the complete run-around.

To cut to the chase, I really need to speak to an adviser that isn't affiliated with these companies. I was using the loan service for a few years and this legislation will be life-changing for me too.

Can you or anyone else find some time to discuss my personal situation?

[jazzyg]

Hi, new here and this is my first post.

I've read as much as I can digest for now after receiving the emails from AML and CK. The emails basically pointed me in the direction of PTS (in the case of CK) and Vanquish (in the case of AML).

CK have been extremely unhelpful, giving me the complete run-around.

To cut to the chase, I really need to speak to an adviser that isn't affiliated with these companies. I was using the loan service for a few years and this legislation will be life-changing for me too.

Can you or anyone else find some time to discuss my personal situation?

Speak to WTT Consulting or DSW Tax . You can google their numbers. Both are pretty helpful.

[LandRover]

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.

How can a company be allowed to de-register when it is involved in its employees being investigated for tax avoidance schemes?

[bapudeb]

Is it possible to confirm whether anyone who is CURRENTLY still using AML / SmartPay / SP Management etc. has received the emails regarding the 2019 Loan Charge Legislation / CLSO ?

From what I have read from previous posts on this thread it appears that only those who were previously with AML / SmartPay / SP Management etc. but no longer with them, have received the emails.

A friend of mine who is currently still using AML's solution (and has consistently used AML since 2011) has NOT received any emails from AML and Knox House Trust (or associated companies) re: 2019 Loan Charge Legislation / CLSO. Personally, I have not used them since Sept. 2016 and I have received the emails.

My trust of AML / SmartPay / SP Management etc. has gone so can't help being suspicious.
Are they throwing their previous clients (i.e. us) under the bus?

Can anyone comment on this please?

I emailed them couple of months back to ask them about the process to pay the APN and I got the following response from AML:
Thank you for your email, if you were to make payment of your APN amount to HMRC you can do this making payment on account. This can be done either is a one lump sum or in multiple instalments. This is something you would need to arrange with HMRC directly.

Please be aware however HMRC may offer you with a Contractor Loan Settlement Opportunity (CLSO), this is another form of payment whereby you settle the amount ‘due’. Please note that AML see no merit in this payment option simply because if AML were to be ultimately successful and you had previously paid via a CLSO you would not be entitled to refund due a small clause in the document. This payment option would also include signing of documents.

If you do decide to make payment of your APN amounts to HMRC please ensure you update us with your payment details (payment date, method and amount).

Of course, should you have any queries please do not hesitate to contact us.
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[jrock]

[QUOTE]

How can a company be allowed to de-register when it is involved in its employees being investigated for tax avoidance schemes?

I agree, it shouldn’t be allowed! It’s basically AML admitting defeat and confirming they couldn’t give a toss about former clients.

I read on this forum that some active AML users haven’t been imformed by KNOX regarding the Loan Charge. We know they are keen to keep funds coming in at whatever cost, once you leave you can be sure the unsupportive news will arrive.

I wonder how they can delay things for active users? Can they just delay sending loan figures to HMRC until users leave? The KNOX trustees email stated the following

If you do nothing and your loan remains outstanding, HMRC could at some point in the future make a request under the Exchange of Information rules for the Trustees to disclose the information held regarding your loans. Doing nothing will not avoid the 2019 Loan Charge.

So they will disclose loan information as soon as approached by HMRC, probably not so quick for active users I bet

[THISISWRONG]

[QUOTE=jrock;2548998]

I agree, it shouldn’t be allowed! It’s basically AML admitting defeat and confirming they couldn’t give a toss about former clients.

I read on this forum that some active AML users haven’t been imformed by KNOX regarding the Loan Charge. We know they are keen to keep funds coming in at whatever cost, once you leave you can be sure the unsupportive news will arrive.

I wonder how they can delay things for active users? Can they just delay sending loan figures to HMRC until users leave? The KNOX trustees email stated the following



So they will disclose loan information as soon as approached by HMRC, probably not so quick for active users I bet

I understand they will move the trusts to the uk where the requirements won’t be as stringent for disclosure. I’m no expert..... so check that...... however...... you don’t have to be an expert to know that AML are not interested

[THISISWRONG]

If you repay your loans..... are you certain not to be challenged if they are repaid in cash?
I’m concerned you could end up in a position where HMRC charge you anyway and say the tax was due when the money went in..... the money is still stuck in the trust, so you get charged again when taking it out - effectively you are at risk and potentially double risk....

Can HMRC do that?

[Shaun89]

PTS?

I’m thinking my best option is to register i want to settle my Loan, and I am considering useing PTS services to assist with this.

I am not great with accounts so don’t feel I can do this without assistance.

I do still have a few concerns about PTS due to their connection with AML.

Has anyone else committed to PTS yet?
Thanks

[THISISWRONG]

I’m thinking my best option is to register i want to settle my Loan, and I am considering useing PTS services to assist with this.

I am not great with accounts so don’t feel I can do this without assistance.

I do still have a few concerns about PTS due to their connection with AML.

Has anyone else committed to PTS yet?
Thanks

I’d go independent from anything connected to AML.
Why trust aml?

[phil@pmtc]

I’m thinking my best option is to register i want to settle my Loan, and I am considering useing PTS services to assist with this.

I am not great with accounts so don’t feel I can do this without assistance.

I do still have a few concerns about PTS due to their connection with AML.

Has anyone else committed to PTS yet?
Thanks

Please read more of this forum regarding using PTS. Admittedly I’m an advisor so may biased but just read up and then contact the advisor of your own choice after bit of research. In fact speak to a few and then decide.