Old Umbrella Company (Tailored) in Liquidation

[fightforfraud]

" Yeah, in parallel worth talking to solicitors who have expertise and experience in such matters"

The liquidator has until the money they can justify spending runs out.

Now it's possible to justify a lot of time (so money) talking to a solicitor who is representing say £500,000 it's a lot harder to justify the same time talking to a solicitor representing £8,000.

So my viewpoint is more solicitors = more work for the liquidator = so less potential return for the time spent.

Were this a tax issue WTT or another tax firm and group advice makes sense. This isn't a tax issue so I personally think the best advice is everyone for themselves and try to ensure its not worth the liquidator's time to recover the loan from you.

But this is not my battle - take whatever option you want to take but I know I wouldn't be using a tax experts for a loan repayment dispute.

[webberg]

But this is not my battle - take whatever option you want to take but I know I wouldn't be using a tax experts for a loan repayment dispute.

Are you sure this is a loan repayment dispute?

Looks to me as though the scheme was based on employees being contractually entitled to a payment and they argue that until the time the terms of the contract are met, no liability can arise.

In the meantime, money is advanced in anticipation of the terms eventually being met.

Is that a loan?

[eek]

Are you sure this is a loan repayment dispute?

Looks to me as though the scheme was based on employees being contractually entitled to a payment and they argue that until the time the terms of the contract are met, no liability can arise.

In the meantime, money is advanced in anticipation of the terms eventually being met.

Is that a loan?

Yet you've argued elsewhere that words like advance payment equal loan and that simply accepting money on which tax was not paid is tantamount to it being a loan..

[webberg]

Yet you've argued elsewhere that words like advance payment equal loan and that simply accepting money on which tax was not paid is tantamount to it being a loan..

For tax purposes there is an argument that the money was employment income.

Do not confuse that (or the tax being paid or not) with what a legal analysis might say pertains to the payments.

Do not confuse a legal analysis with common sense either.

[eek]

For tax purposes there is an argument that the money was employment income.

Do not confuse that (or the tax being paid or not) with what a legal analysis might say pertains to the payments.

Do not confuse a legal analysis with common sense either.

Which is why I'm telling people to get appropriate legal advice, the one thing I'm not saying is ignore it. In fact the only thing I am saying is that other sources of legal advice are available and may be appropriate here - for instance an employment law or contract law firm may be better than a tax specialist.

[Laith]

For tax purposes there is an argument that the money was employment income.

Do not confuse that (or the tax being paid or not) with what a legal analysis might say pertains to the payments.

Do not confuse a legal analysis with common sense either.

Is Tom Wallace planning on making phone calls today to discuss? It’s been a week and we are in the same position.

[webberg]

Is Tom Wallace planning on making phone calls today to discuss? It’s been a week and we are in the same position.

I've checked with Tom and he has just one call left to do.

PM me if you wish and I'll call you.

[webberg]

Also please be aware that an email message to all who have called us is being prepared for issue in the next 24/48 hours.

[Fred Bloggs]

Are you sure this is a loan repayment dispute?

Looks to me as though the scheme was based on employees being contractually entitled to a payment and they argue that until the time the terms of the contract are met, no liability can arise.

In the meantime, money is advanced in anticipation of the terms eventually being met.

Is that a loan?

I know I have been criticised in the past for saying this. But if it looks like a duck (loan), walks like a duck (loan) and quacks like a duck (loan) then usually it's a duck (loan). Equally, I have often said a sprinkling of pixie dust (pretending the duck/loan isn't one), simply doesn't work.

[Zigza]

I've checked with Tom and he has just one call left to do.

PM me if you wish and I'll call you.

Please could someone possibly help. I am in the same situation with Tailored. I am waiting for a solicitor to advise me but I would appreciate some advice from others that have been affected.

It would hopefully put my mind at rest.

Thank you