HMRC Enquiry letters on Loans from EBT and other schemes HMRC Enquiry letters on Loans from EBT and other schemes - Page 4
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  1. #31

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    Quote Originally Posted by KnightRider View Post
    Thanks bluerover & DonkeyRhubarb. Do you think that it is Raingold's best interest to help us? Or should we get some advice from PCG?
    Try the PCG. If the loans were really loans and not related to your daily UK contractor income, they might be able to provide advise.

  2. #32

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    I am not familiar with the terms of the TRM or Edge arrangements. Were you employees of a business/partnership or self employed contractors?

    If you were self-employed it is less likely that a loan from a trust could be deemed to be employment income. As has already been posted, HMRC have not had great success with EBTs to date. They lost the Rangers FC case but that might be going to appeal.
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  3. #33

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    I've also received the same letter for 08/09. I was with Norla/Edge too but have had no luck contacting them. Would be interested to hear of any contact made and will be following this thread with great interest.

  4. #34

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    Quote Originally Posted by a Man of Constant Sorrow View Post
    I too have been invited to the 08/09 party - same letter, same thing.

    Dont suppose by any remote chance anyone has a contact number for Egde Consulting - searched everywhere and with Norla having ceased trading, no help there.

    Very grateful in advance for any help, as assuming others were with Edge - for my part I am seeking to confirm whether the contract helpdesk/Cobham Murphy are representing these schemes, given they are covering some 20 + at the moment.

    Many thanks
    You might be needing this:

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  5. #35

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    If it's any comfort, according to the recent NAO report, you are one of 20,000 people who used EBT or loan schemes.

    http://www.nao.org.uk//idoc.ashx?doc...4d1&version=-1

    I think it is HMRC who have the big problem, not you as individuals!!!

  6. #36

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    Just spoke to a company called TaxTalkUK who are dealing with the enquiries on behalf of RainGold. If I wish to be represented I can use them and agree a fee.

    I have P45 from TRM, a Loan Agreement and a letter asking for the loan to be repaid. I guess I can appeal because I can prove it was a loan and at that time it was not taxable.

    The chap at TaxTalkUK said they are sending these letters out because of the time limit and the fact this tax year goes out of date at the end of this tax year.

  7. #37

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    Quote Originally Posted by DonkeyRhubarb View Post
    If it's any comfort, according to the recent NAO report, you are one of 20,000 people who used EBT or loan schemes.

    http://www.nao.org.uk//idoc.ashx?doc...4d1&version=-1

    I think it is HMRC who have the big problem, not you as individuals!!!
    I wouldn't dare suggest that 20,000 people appeal against HMRC. I mean it would be terrible if the tax courts came to a halt with all those cases
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  8. #38

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    Quote Originally Posted by bluerover View Post
    Just spoke to a company called TaxTalkUK who are dealing with the enquiries on behalf of RainGold. If I wish to be represented I can use them and agree a fee.
    If it was me I would only pay for help completing the paperwork to appeal the discovery assessment at this stage. It could be a very long time before HMRC take this any further.

    It would be a good idea if everyone uses the same wording in their appeal, so that HMRC realises they are up against professional tax advisors, not individual tax payers.

  9. #39

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    The chap I spoke to said appealing is just a matter of writing a letter stating the reasons for the appeal and ensuring you state how much of the additional amount you are appealing against. For me (as I imagine most people) is that it was a loan not a taxable income so I am appealing against the full amount. I have documentation regarding loan agreement and paying it off. I guess it doesn't have to be a long letter.

    The more I think about this and re read the letter the more I agree with DonkeyRhubarbs opinion they are just trying it on.

  10. #40

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    Quote Originally Posted by bluerover View Post
    The more I think about this and re read the letter the more I agree with DonkeyRhubarbs opinion they are just trying it on.
    I would put money on it.

    The NAO report says HMRC are investigating 20,000 people across 75 variants of the scheme. (And I suspect this is a conservative estimate)

    If they can scare a fair few into settling then that's a quick easy win.

    They are in a right mess with all of this, and IR35 has come back to well and truly bite them on the arse.

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