Edge EBT thread

[cerner]

Edge themselves should make a contribution to the fighting fund. If they are unwilling to do this then at the very least they should write to all their users making them aware of the Group.

I remember back then Edge did promise to pay up to 50k in legal representation fees to contractors if their EBT scheme comes under investigation by HMRC. This promise soften any doubt I had about joining the scheme back then. Now they are no where to be seen will be sweet music to HMRC.

TBH I don't think we should be exposing our weakness in public forum like this as HMRC will use it to boost their resolve. Hopefully Edge will do the right thing and show their faces and come out of hiding.

[cerner]

The company AML operates ebt scheme and are still actively running.
Do any of the AML members know how their employer is going about this matter?

I was with AML for just few days, then 1yr later I received a tax assessment query from HMRC asking me if loan obtained from AML will be repaid. I forward this to AML for guidance and they just simply told HMRC that it won't be repaid. so they drop you right in it. they are scum of the earth. Luckily the amount of tax on that loan was very small under 100 pounds so not biggie but it could have been worse. AML simply panicked and dropped you right in it. However as far as i'm concerned I expected repay back their loan.

[DonkeyRhubarb]

I remember back then Edge did promise to pay up to 50k in legal representation fees to contractors if their EBT scheme comes under investigation by HMRC. This promise soften any doubt I had about joining the scheme back then. Now they are no where to be seen will be sweet music to HMRC.

TBH I don't think we should be exposing our weakness in public forum like this as HMRC will use it to boost their resolve. Hopefully Edge will do the right thing and show their faces and come out of hiding.

£50k is nothing. If that was the total extent of their commitment at the outset, you're better off without them.

Montpelier have already spent close on £1M challenging BN66 through the High Court/Court of Appeal/Supreme Court, and they're not done yet. They've applied to Europe and have committed to defending the scheme in the FTT and beyond. But Montpelier truly are the exception. Most promoters cut and run at the first sign of trouble.

If you organise yourselves into a large, well funded Group, you will be a far more formidable opposition than a half-assed, self-serving promoter.

[cerner]

£50k is nothing. If that was the total extent of their commitment at the outset, you're better off without them.

I would have thought it's 50k per each in the scheme with Edge so if 100 are fighting HMRC they cough up 100 x 50

[DonkeyRhubarb]

I would have thought it's 50k per each in the scheme with Edge so if 100 are fighting HMRC they cough up 100 x 50

100 x £50k = £5M

I doubt they could ever have stretched to that.

Anyway, since they seem to have shut up shop, it's largely immaterial.

[DonkeyRhubarb]

I would guess Edge must have had at least 500 users?

If our experience on the BN66 thread is anything to go by, I bet there are many more Edge users following this thread (lurking) than actually posting.

Once they realise that your GROUP is the best chance they've got, most will come forward.

[fizzy]

I would guess that the figure is at least double that.

I know at least a dozen people that worked previously through edge most of them have yet to post on here but some of them are actively lurking.

I would guess Edge must have had at least 500 users?

If our experience on the BN66 thread is anything to go by, I bet there are many more Edge users following this thread (lurking) than actually posting.

Once they realise that your GROUP is the best chance they've got, most will come forward.

[cerner]

I would guess that the figure is at least double that.

I know at least a dozen people that worked previously through edge most of them have yet to post on here but some of them are actively lurking.

Yup, Edge were the big daddy of the EBT scheme back then. They had a lot of contractors on their book and raked in a substantial sum of money. They certainly have the monetary resources to fight this case for us without breaking a sweat if they choose to do the right thing and take it up.

[DonkeyRhubarb]

Yup, Edge were the big daddy of the EBT scheme back then. They had a lot of contractors on their book and raked in a substantial sum of money. They certainly have the monetary resources to fight this case for us without breaking a sweat if they choose to do the right thing and take it up.

I know that Montpelier, with 1000 users, were bringing in about £10m/year in fees from their ebt/loan scheme. I would assume Edge were in the same ballpark.

Unfortunately, Edge are typical of a lot of promoters. Happy to get rich off contractors but leg it at the first sign of trouble from HMRC leaving all the users high and dry.

It makes your blood boil but you've got to move on from that. And, to be honest, as a GROUP you're probably better off being in control of your own destiny.

[fizzy]

Just found the Noral sales brochure and it says they had over 700 contractors working through them and this was sent to me back in 2007. I am assuming that figure would have been over 1000 in their peak.