• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Infinity Contracts - Loan Agreement - Help

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Infinity Contracts - Loan Agreement - Help

    Just want to know who has been with them and perhaps received a Loan Statement?

    If you have used them in the past, I need to find out a clause in their loan agreement.

    Please get in touch.

    Thanks

    #2
    As per the previous posts on Infinity, looks like they were part of Winchester? Have you joined LCAG?

    Comment


      #3
      Originally posted by GreenMirror View Post
      As per the previous posts on Infinity, looks like they were part of Winchester? Have you joined LCAG?
      No, have not joined them. I have misplaced my agreement, I was wondering if anyone had a copy there is just one clause I need info on.

      Comment


        #4
        Infinity Loan Scheme

        Hi

        too was with infinity and they have just sent me letter saying I need to pay the loan back

        I don't know how they can say this as the money was mine in the first place

        They took my hard earned money and paid me as a loan

        I can understand paying tax but to repay my own money !!!!!- this is a scam. They are sending letters to gain for themselves

        I have been informed to ignore them

        who are LCAG?

        Comment


          #5
          First, read the letter carefully.

          It is not asking for immediate loan repayment. It says that the scheme that was operated is like likely to be challenged and in the present environment a result akin to that seen in Rangers is expected. Therefore a legal challenge is likely to come at high risk.

          Second, there is a claim that in order to "protect" the various parties, including you, a DOTAS registration is now required. That is a very debatable claim on two levels.

          Firstly, the party writing the letter appears to be a newer iteration of the original employer/trustee (one that shares an address with many other firms doing something similar in other schemes) and it's entirely unclear as to who they are; who their "clients" are; who needs "protecting"; and why.

          Secondly, DOTAS disclosure is usually required to be made within a short window of the scheme being made available to users. Late disclosure comes with a hefty penalty for being late - upon the party required to disclose. It is very unclear as to whether a disclosure for DOTAS can even be made at this time, without penalty for Infinity.

          The purpose of the actions above are to establish a reason for persuading you to contact DOR Resolutions (last seen as a connection of Trust Helpline (sic) on the Old Baker Tilly schemes). DOR is wholly owned by Baker Tilly in the IOM. A few seconds on the internet will reveal much information on them.

          DOR seem to be some form of clearing house for loan administration and their relationship with lenders or ability to influence them is entirely unclear. In previous iterations, substantial fees or payments were made to DOR and the final destination of them is again unclear. Whether any of the claimed amounts were used to reduce loans is something we have been unable to establish.

          Overall, this is a softening up process and will be followed by requests for "reasonable" fees.

          Just think about this.

          The parties here rely upon creating fear and panic in a diverse set of users of this scheme who they consider (with good reason) will not come together to act in concert.

          They threaten actions that allow them to put HMRC in the role of tax seeking bully - essentially an unpaid enforcer for them.

          Their relationships with the original companies is very unclear (certainly the Kemp House address has thousands of companies registered there but it is possible to trace some connections) and whose motives and legal responsibilities are hidden.

          Your best bet is to combine forces.

          (And yes I would say that because of my connections, but stragglers from a herd are easy prey and the mass of the herd acting together is stronger and perhaps safer).
          Best Forum Adviser & Forum Personality of the Year 2018.

          (No, me neither).

          Comment


            #6
            Originally posted by kazzy123 View Post
            Hi

            who are LCAG?
            More on LCAG here 2019 Loan Charge Action Group (LCAG) - Loan Charge Action Group

            Comment


              #7
              I have had cause to review the Infinity outfit again and may have misled you all earlier - my apologies.

              Whilst I was correct in that there is a company called DOR Resolutions Ltd registered in the IOM (016955V) at Baker Tilly's address, it may be that the company of the same name mentioned in the Infinity letter is in fact DOR Resolutions, registered in the UK as company number 11910189.

              Infinity and the UK version of DOR used to share a common director. Infinity now appears to be in the process of being struck off although the action to strike off was suspended 16th Feb 2019.

              In fact the director of Infinity and DOR (Mr Andrew William Thompson) is also listed as connected with a further 9 companies which include names such as Winchester, IQ, Eximius, Dynamic.

              Some of these companies are in the hands of professional insolvency agents.

              Please be careful.
              Last edited by webberg; 30 April 2019, 15:19. Reason: accuracy
              Best Forum Adviser & Forum Personality of the Year 2018.

              (No, me neither).

              Comment


                #8
                Implications?

                Originally posted by webberg View Post
                I have had cause to review the Infinity outfit again and may have misled you all earlier - my apologies.

                Whilst I was correct in that there is a company called DOR Resolutions Ltd registered in the IOM (016955V) at Baker Tilly's address, it may be that the company of the same name mentioned in the Infinity letter is in fact DOR Resolutions, registered in the UK as company number 11910189.

                Infinity and the UK version of DOR used to share a common director. Infinity now appears to be in the process of being struck off although the action to strike off was suspended 16th Feb 2019.

                In fact the director of Infinity and DOR (Mr Andrew William Thompson) is also listed as connected with a further 9 companies which include names such as Winchester, IQ, Eximius, Dynamic.

                Some of these companies are in the hands of professional insolvency agents.

                Please be careful.
                Hi webberg,

                What are the implications for those that were involved with, say, IQ if the company is now in the hands of professional insolvency agents? What would be the best course of action?

                Thanks

                Comment


                  #9
                  Originally posted by Taxnovice View Post
                  Hi webberg,

                  What are the implications for those that were involved with, say, IQ if the company is now in the hands of professional insolvency agents? What would be the best course of action?

                  Thanks
                  Who cares? Just put all correspondence in the bin or better still return to sender. None of them cam be trusted, treat them as scams.

                  The only people you need open letters from is HMRC, deal with them only.

                  Comment


                    #10
                    Originally posted by webberg View Post
                    I have had cause to review the Infinity outfit again and may have misled you all earlier - my apologies.

                    Whilst I was correct in that there is a company called DOR Resolutions Ltd registered in the IOM (016955V) at Baker Tilly's address, it may be that the company of the same name mentioned in the Infinity letter is in fact DOR Resolutions, registered in the UK as company number 11910189.

                    Infinity and the UK version of DOR used to share a common director. Infinity now appears to be in the process of being struck off although the action to strike off was suspended 16th Feb 2019.

                    In fact the director of Infinity and DOR (Mr Andrew William Thompson) is also listed as connected with a further 9 companies which include names such as Winchester, IQ, Eximius, Dynamic.

                    Some of these companies are in the hands of professional insolvency agents.

                    Please be careful.
                    Thanks Graham. That kinda works with my long held suspicion that Baker Tilly were providing admin services on behalf of a client (whose name remains hidden) rather than operating the schemes themselves. No concrete evidence yet mind.

                    Comment

                    Working...
                    X