Releasing loans before the settlement is finalised

[Forsythia]

Question: Presumably tax position is the same whether the loan to Pinotage Trustees is written off now or after settlement? Both will attract the same IHT (if due)????? Because I too am in the middle of settlement and will never have time to settle prior to loans being written off.

[plopyyboom]

______________

His point is you mentioned Penfolds/Hamilton Trust in your original post and these Schemes/Trusts are absolutely not emailing beneficiaries regarding loan recalls - the email you received relates to different schemes / trusts so you should remove the reference to Penfolds / Hamilton Trust in your post as it just causes unnecessary confusion.

No probs, removed that, apologies for the confusion.
As above poster and as per the original message, I am concerned about the IHT charge implications.

[NeedTheSunshine]

Vested interest in that I have been defending them for 6 1/2 years, having JR's still preventing APNs being enforced for my clients and litigated the Hoey case in the FTT in July which has been appealed and will proceed to the UT along with our Loan Charge JR.

So a promoter then?

[cojak]

So a promoter then?

He used to be an introducer to schemes. He popped up to prevent his scheme from being lumped in with the others.

Loans were made by an EBT so the existence or otherwise of the former employer is irrelevant. As is all reference to FS Capital or Pinotage. Neither have absolutely anything to do with Penfolds or Hamilton. No one is recalling those loans. Complete scaremongering nonesence.

[Invisiblehand]

He used to be an introducer to schemes. He popped up to prevent his scheme from being lumped in with the others.

But denies it whenever someone brings it up.

[DavidD]

Just to be clear though Penfolfds/Hamilton were run by the same crowd as K2 whose loans are now with FS Capital? I may be wrong - Correct me if I’m wrong.

[Saleos]

Just to be clear though Penfolfds/Hamilton were run by the same crowd as K2 whose loans are now with FS Capital? I may be wrong - Correct me if I’m wrong.

You’re wrong. Those who introduced clients to K2/Hyrax were one of more than half a dozen who did so to Penfolds. They had absolutely nothing to do with running it.

I don’t hide my historic involvement with Penfolds (I had none with Hamilton which was designed by Kingston Smith). As all of my clients know. It’s in the public domain. Absolutely sure no one has done more, for longer, defending such schemes.

[Invisiblehand]

I don’t hide my historic involvement with Penfolds

Then why did you write

"Below is a defamatory load of BS.

I’m a qualified CTA and have been for over 15 years.

I didn’t sell a single contractor a scheme. I don’t offer any scheme, of any variety, now and haven’t done so for several years and there is no such thing as a GAAR proof scheme".

[jbryce]

Sigh - I've had my run-ins with Saleos in the past - I'm still waiting for the solicitor's letter.

You could argue the toss that he's making money from other people's misery, you could observe that he's not massively collegiate in his attitude to others fighting the same battles and you could definitely say that he's not a particularly pleasant individual.

But. He's still around - which is more than be said for a lot of the feckless f***ers who profited from the schemes back in the day.

[Dave19]

Has anybody had success with writing loans off ?
Does the settlement payment need to complete before loan write-off can happen?