AML/Knox House Trustloan write off AML/Knox House Trustloan write off
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  1. #1

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    Default AML/Knox House Trustloan write off

    During the lead up to the Loan Charge deadline I received an email from those lovely thoughtful people at Knox House Trust/AML.

    The only bit I found of interest was the last paragraph " If you have already reached a settlement with HMRC in relation to your loans we, as Trustees, will be happy to review same with a view to taking the necessary steps to write off the loan which we will complete for you free of any charges."

    I only used the scheme for a brief period and settled with HMRC a couple of years back but have always wondered where I stood as to my liability of the "loan" via AML and I'd be relieved to have the sorry episode finally and completely resolved.

    Have any former AML scheme users had their loans released/written off and if so what steps did they take?

    I'd be very grateful to hear of your experiences and findings.

    Many thanks
    Anders

  2. #2

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    Quote Originally Posted by dafthead View Post
    During the lead up to the Loan Charge deadline I received an email from those lovely thoughtful people at Knox House Trust/AML.

    The only bit I found of interest was the last paragraph " If you have already reached a settlement with HMRC in relation to your loans we, as Trustees, will be happy to review same with a view to taking the necessary steps to write off the loan which we will complete for you free of any charges."

    I only used the scheme for a brief period and settled with HMRC a couple of years back but have always wondered where I stood as to my liability of the "loan" via AML and I'd be relieved to have the sorry episode finally and completely resolved.

    Have any former AML scheme users had their loans released/written off and if so what steps did they take?

    I'd be very grateful to hear of your experiences and findings.

    Many thanks
    Anders
    Hi Dafthead,

    I received the same kind & thoughtful email but decided to file it away. Had enough dealings with them and where their QC/HMRC approved scheme have got me.

  3. #3

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    I sent them proof of settlement agreement and within a couple of days they wrote to me confirming loans have been written off. Mine was Knox house via Smartpay.

  4. #4

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    Quote Originally Posted by panders View Post
    I sent them proof of settlement agreement and within a couple of days they wrote to me confirming loans have been written off. Mine was Knox house via Smartpay.
    Many thanks for taking the time to reply.

  5. #5

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    Default Knox House Trust - HMRC Settlement and write off the loan.

    Quote Originally Posted by panders View Post
    I sent them proof of settlement agreement and within a couple of days they wrote to me confirming loans have been written off. Mine was Knox house via Smartpay.
    Has anyone else done this? Is it legit? What proof did you send?
    Do you need to do it if you have already settled with HMRC?


    This is the email I received..

    If you have already reached a settlement with HMRC in relation to your loans we, as Trustees, will be happy to review same with a view to taking the necessary steps to write off the loan which we will complete for you free of any charges.

    Our mailing address is:
    Knox House Trust
    16 - 18 Finch Road
    Douglas IM1 2PT
    Isle of Man

  6. #6

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    Yes, it's real.

    If you have settled with HMRC and have a statement that you will face no further tax charges (part of the contract), then AML/Knox will write the loan off, usually without charge.

    (The fact that the settlement means that they are not liable to income tax or IHT does not, I'm sure, have anything to do with such generosity).
    Best Forum Adviser & Forum Personality of the Year 2018.

    (No, me neither).

  7. #7

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    Default KNOX House Trust/AML

    Has anything progressed with this, as i got a similar message from these dodgy folks by email last week, and like you have agreed a position with HMRC re my loans.



    Quote Originally Posted by dafthead View Post
    During the lead up to the Loan Charge deadline I received an email from those lovely thoughtful people at Knox House Trust/AML.

    The only bit I found of interest was the last paragraph " If you have already reached a settlement with HMRC in relation to your loans we, as Trustees, will be happy to review same with a view to taking the necessary steps to write off the loan which we will complete for you free of any charges."

    I only used the scheme for a brief period and settled with HMRC a couple of years back but have always wondered where I stood as to my liability of the "loan" via AML and I'd be relieved to have the sorry episode finally and completely resolved.

    Have any former AML scheme users had their loans released/written off and if so what steps did they take?

    I'd be very grateful to hear of your experiences and findings.

    Many thanks
    Anders

  8. #8

    Still gathering requirements...


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    Quote Originally Posted by sb11sgb View Post
    Has anything progressed with this, as i got a similar message from these dodgy folks by email last week, and like you have agreed a position with HMRC re my loans.
    I settled with HMRC last year and Knox House Trust were pretty quick in writing off the loans once I provided proof of settlement. I no longer have anything to do with them although am still waiting for HMRC’s view on whether IHT is now due or not.

    I fear I may be waiting for some time!!

  9. #9

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    Could you please share their contact details so I can talk with them to have the same (loans written off) done? Their email/phone number? I am having trouble finding their contact details on the internet.
    Many thanks!

  10. #10

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    Quote Originally Posted by phillobates View Post
    Could you please share their contact details so I can talk with them to have the same (loans written off) done? Their email/phone number? I am having trouble finding their contact details on the internet.
    Many thanks!

    https://knoxhousetrust.com/contact/

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