AM Limited COP8 HMRC Investigation Letter..

[cojak]

It's good to know that AML are taking this seriously and will hopefully out up a fight on behalf of AML users.

Well you had better hope that they respond to HMRC in a more timely manner than they do to their users...

So, what happens now? Do we just sit and wait for the demands to arrive? I have emailed AML but not had any response yet.....

[jrock]

Well you had better hope that they respond to HMRC in a more timely manner than they do to their users...

I agree the communication with AML is very slow. I'm still with them so I do get standardised answers to common queries. I wonder what it would be like if I wasn't with them, would they care so much if they wasn't making any money.

Interested to hear others ( ex AML and current) experiences with communicating with AML regarding HMRC questions.

[LisaContractorUmbrella]

I agree the communication with AML is very slow. I'm still with them so I do get standardised answers to common queries. I wonder what it would be like if I wasn't with them, would they care so much if they wasn't making any money.

Interested to hear others ( ex AML and current) experiences with communicating with AML regarding HMRC questions.

Can I ask why you are still using their services?

[creativity]

Can I ask why you are still using their services?

Lisa asks a good question; why are you still with them?
Believe me, you are best out of these schemes, the sooner they lose their customers the sooner they stop trading and the sooner HMRC will stop their draconian measures.
Another good reason is you will save money (and stress) in the long run.

[jbryce]

Lisa asks a good question; why are you still with them?
Believe me, you are best out of these schemes, the sooner they lose their customers the sooner they stop trading and the sooner HMRC will stop their draconian measures.
Another good reason is you will save money (and stress) in the long run.

Although, in fairness to AML, they are still going. Many closed as soon as the EBT legislation changed, which makes chasing them very difficult . Yes - ok Sanzar is being supported via the Contractor Helpdesk and they have (apparently) funded Tax Advisors to deal with investigations - but there's no Sanzar company to hassle (....but that's another story)

Look, it's fair to say that not all tax planning will be ruled illegal and many schemes may continue long after new legislation is passed.

BUT you are a contractor - these schemes were initially designed for the super-rich who could afford the risk of massive tax bills. A tax bill which wipes 150k out of your life is going to be more painful than a 5 million take from, say, a famous comedian who may just have to sell a yacht to make the problem go away.

HMRC probably accept that the really, really rich will always avoid, and they are probably very, very hard to litigate against. You, me and other contractors are low hanging fruit.

[DonkeyRhubarb]

You should note that AML PCC, which has been in place since April 2011, is unaffected by the new proposals...

Hmmm

[eek]

Hmmm

+1 anything to stop the cash cows (sorry members) disappearing...

[LisaContractorUmbrella]

Although, in fairness to AML, they are still going. Many closed as soon as the EBT legislation changed, which makes chasing them very difficult . Yes - ok Sanzar is being supported via the Contractor Helpdesk and they have (apparently) funded Tax Advisors to deal with investigations - but there's no Sanzar company to hassle (....but that's another story)

Look, it's fair to say that not all tax planning will be ruled illegal and many schemes may continue long after new legislation is passed.

BUT you are a contractor - these schemes were initially designed for the super-rich who could afford the risk of massive tax bills. A tax bill which wipes 150k out of your life is going to be more painful than a 5 million take from, say, a famous comedian who may just have to sell a yacht to make the problem go away.

HMRC probably accept that the really, really rich will always avoid, and they are probably very, very hard to litigate against. You, me and other contractors are low hanging fruit.

Looking at the GAAR guidance I don't think there will be many options left

[LisaContractorUmbrella]

+1 anything to stop the cash cows (sorry members) disappearing...

+2 I'd like to see details of that scheme

[DonkeyRhubarb]

Most wealthy people who use tax planning only risk a portion of their net worth in a scheme.

The problem with the contractor schemes is that people put ALL of their income into them, year in and year out. If it fails then for many that will spell disaster.