HMRC enquiries for Talent Resource Management (TRM) / Cherrylon / Trentburg Schemes

[Snpost]

A work colleague who was in our situation some 6 yrs ago, Worked through Talent and used TT-Intelligence to negotiate with HMRC, TT-Intelligence advised almost immediately for him to Settle. Cost him £90K and today he is still paying off said amount, also he wished he had took other advice and on reflection wished he had not taken their advice.

Be wary, i have, since receiving my letter, tried to connect all these companies and people through companies house and other sites but they are so intrenched in the way they set their companies up. Mainly in Jersey and now in Bulgaria, that it is virtually impossible to get to them, hence why HMRC is taking the easy option and coming after us.

TOTAL TAX INTELLIGENCE LIMITED
Company number 06206130

1 active person with significant control / 0 active statements

Mr James Jonathan Moss ACTIVE

Correspondence address
Monaco House, Monaco Works, Station Road, Kings Langley, Hertfordshire, England, WD4 8LQ
Notified on
6 April 2016
Date of birth
October 1981
Nationality
British
Nature of control
Ownership of shares – 75% or more as a member of a firm
Country of residence
England

It is apparent from my research that Mr James Jonathan Moss has been in cahootz with Mr Adam Paul Becker who ran Tax Talk who both are Directors of Futurelink Group Ltd, they are coming across as people who set up and then close down companies as and when it suits them - https://suitedotendole.co.uk/insight...on-rcs-limited Lots of information here regarding the companies they are involved with currently, Dissolved & Liquidated.

Seems like they set up a company to be tax efficient for us guys, charge us accordingly, when they have a fat bank account close the company taking the money, set up another company to advise, charge us for the benefit, get a fat bank account, close the company taking the money, set up a different company etc etc the loop goes on..

How is Lutea connect to TRM? I have spoken to them and they do not have any of th schemes listed under their managed trusts.

[LaurieDriver]

Why is this allowed ??

So can some one please enlighten me why the likes of the Moss family, Mr James Jonathan Moss, Mr Craig Darren Moss & Mr Anthony Moss, who were all part of Talent Resources Ltd are <mod snip>?

One of them must have incorporated the company ?? Including any one of their pay scheme's, and their advice agencies who advised many contractors that this was a safe way to get your money.

They are allowed to dissolve one company when the going gets tuff and go on and form new companies doing exactly the same thing ?? its absolutely crazy <mod snip> they took payment, they charged interest on loans that i know was paid .....HMRC should be going to TRM or the new incarnation which is futurelinkgroup & TT-Intelligence (https://ww w.futurelinkgroup.co.uk).. You try emailing them !! you try contacting them via their web portal... <mod snip>

If you use TT-Intelligence, real name TOTAL TAX INTELLIGENCE LIMITED you will be speaking to the same people you spoke to when you dealt with TRM, its the same god dam family.. https://suitedotendole.co.uk/insight...igence-limited

what is anyone doing about this then ???

https://suitedotendole.co.uk/insight...-group-limited

Rant over

It seems it's a Moss family business. My contact at TRM was Craig Moss, and it appears their dad (presumably, given Anthony Moss' date of birth) is on it too.

[cojak]

Read this post. https://forums.contractoruk.com/hmrc...ml#post2577201

[ContractorSeven]

TRM loans and currency conversions

Having worked through TRM for about 18 months around 2006 I received the letters transferring the loans to Redding around 2008, as I'm sure many people did. There was then some thing were they were converted to Zimbabwe dollars and, thanks to that currency crashing, became worthless.

I have a signed letter from them saying that the loan is paid off. The Loan Charge then, in theory, doesn't apply and because the loan wasn't written off there's no tax liability.

I have no way of knowing whether Redding did the currency conversion or not. Maybe they didn't, but I had no part in it. I would be interested to know what grounds HRMC have for getting money from me and not TRM/Redding. Maybe they should chase Redding for fraud? I can't see how that's my problem.

Has anyone in a similar situation looked into it?

[starstruck]

Having worked through TRM for about 18 months around 2006 I received the letters transferring the loans to Redding around 2008, as I'm sure many people did. There was then some thing were they were converted to Zimbabwe dollars and, thanks to that currency crashing, became worthless.

I have a signed letter from them saying that the loan is paid off. The Loan Charge then, in theory, doesn't apply and because the loan wasn't written off there's no tax liability.

I have no way of knowing whether Redding did the currency conversion or not. Maybe they didn't, but I had no part in it. I would be interested to know what grounds HRMC have for getting money from me and not TRM/Redding. Maybe they should chase Redding for fraud? I can't see how that's my problem.

Has anyone in a similar situation looked into it?

Yes this is my exactly situation. (Edit - not TRM though)

Unfortunately the loan charge explicitly mentions depreciating currencies. It completely ignores the depreciation - nice eh? So for the loan charge purposes if the events are as follows:

2001 Loan Made in 100,000 ZWD (say £50k)
2005 ZWD depreciates so 100,000 ZWD = £100
2006 Trust writes off £100 loan balance
2007 Trust closes
All years closed

Loan charge legislation says £50k loans "outstanding" in 2018/19 - because they only consider cash repayments in GBP and ignore both write off and trust closing. It's totally mental!

Edit - oh and Mel Stride keeps repeating we can repay the loans ... er .. how ... to who .. there is (a) no 'real' outstanding balance and (b) nobody to repay even if there was!

[TooBlue]

Having worked through TRM for about 18 months around 2006 I received the letters transferring the loans to Redding around 2008, as I'm sure many people did. There was then some thing were they were converted to Zimbabwe dollars and, thanks to that currency crashing, became worthless.

I have a signed letter from them saying that the loan is paid off. The Loan Charge then, in theory, doesn't apply and because the loan wasn't written off there's no tax liability.

I have no way of knowing whether Redding did the currency conversion or not. Maybe they didn't, but I had no part in it. I would be interested to know what grounds HRMC have for getting money from me and not TRM/Redding. Maybe they should chase Redding for fraud? I can't see how that's my problem.

Has anyone in a similar situation looked into it?

Same here, I paid £5 to pay off the loan in Jan 2010. I'm guessing hmrc will still want the tax however the loan itself should be closed off and the trust not in existence anymore so does the loan charge affect me. I just don't know.

[webberg]

To the best of my knowledge:

The loan charge does not care if a trust was used. It simply asks if a loan was made and cares not about the status of the lender.

The loan charge deals specifically with foreign currency loans.

TRM did not use a trust.

My guess is that if you took a loan in Jupiter Zols to a value of £1,000 sterling and later repaid £5 sterling, then the loan charge will be on £995.

[ContractorSeven]

In the case of TRM the loans were issued in sterling. They were then internally (and years later) within TRM, without any instruction or knowledge from the recipients of the loans, converted to Zimbabwe Dollars and the sterling value subsequently reduced.

I doubt if it makes any difference to HMRC and the loan charge, but it's a different situation to every other 'foreign currency' loan scheme I've seen. It would be interesting if it ever went to court.

[piebaps]

Yup, the interesting bit would be whether any foreign currency was actually ever purchased!

[TooBlue]

To the best of my knowledge:

The loan charge does not care if a trust was used. It simply asks if a loan was made and cares not about the status of the lender.

The loan charge deals specifically with foreign currency loans.

TRM did not use a trust.

My guess is that if you took a loan in Jupiter Zols to a value of £1,000 sterling and later repaid £5 sterling, then the loan charge will be on £995.

Thanks Webberg for clarifying.