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As per many statements made in public by HMRC and repeated by advisers here and pretty much everywhere, given the extended deadlines for reporting loan values via the SATR, to 30th September 2020, the chance of any substantive response from HMRC before then is very low.
If you are impacted here, you need to do some research of your own and pay attention to what is going on.
Relying on others to do this for you could end up in similar sort of situation as the original loan schemes.
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Thanks, I understand and agree.
I have been researching but 10 people researching and sharing knowledge is always better than one so I'm just looking for anyone elses thoughts on this.
For anyone reading there is now a small group of four of us in the same boat, seeking legal advice and sharing information. If you are reading and also impacted by Pembroke please feel free to DM me to connect with us.
For anyone reading there is now a small group of four of us in the same boat, seeking legal advice and sharing information. If you are reading and also impacted by Pembroke please feel free to DM me to connect with us.
I used Pembroke for a year anyone in the same situation able to help me got letter in December saying to fill in self assessment for. Today Got a letter to say I'm owe HMRC £547. Any help or advise will really be appreciated.
I used Pembroke for a year anyone in the same situation able to help me got letter in December saying to fill in self assessment for. Today Got a letter to say I'm owe HMRC £547. Any help or advise will really be appreciated.
When you used Pembroke some of you income was paid via PAYE, some was paid to you without tax deducted (as a loan)
HMRC are chasing up the money that you received where tax was not deducted at source.
Sadly this will also not be the end of the issue. Pembroke is in the process of being liquidated - which means the liquidator may ask you to repay the money you received as a loan.
Yes - it is completely unfair that HMRC can treat the money as income while someone else can treat the money as a loan but that is because HMRC are looking at the money sent from the agency that employed you and the liquidator is just looking at the company's business model and seeing money that can be reclaimed.
So I'm sorry to say that the letter from HMRC is probably correct - worse it may not be the full amount depending on how much HMRC received and there may be fines involved as this should have been sorted out before September (if you explain what happens the fines will probably be removed but you will need to ask).
When you used Pembroke some of you income was paid via PAYE, some was paid to you without tax deducted (as a loan)
HMRC are chasing up the money that you received where tax was not deducted at source.
Sadly this will also not be the end of the issue. Pembroke is in the process of being liquidated - which means the liquidator may ask you to repay the money you received as a loan.
Yes - it is completely unfair that HMRC can treat the money as income while someone else can treat the money as a loan but that is because HMRC are looking at the money sent from the agency that employed you and the liquidator is just looking at the company's business model and seeing money that can be reclaimed.
So I'm sorry to say that the letter from HMRC is probably correct - worse it may not be the full amount depending on how much HMRC received and there may be fines involved as this should have been sorted out before September (if you explain what happens the fines will probably be removed but you will need to ask).
Sorry can are you a victim of this loan charge or used Pembroke?
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