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  1. Go and get some advice because a lot of comments...

    Go and get some advice because a lot of comments above are guesses or misleading or both.

    HMRC will open an enquiry into a YEAR (never limited to just one aspect within that year) based either on...
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    I think not. Lenders cannot "opt out" of...

    I think not.

    Lenders cannot "opt out" of something they were never "in".

    If a loan is made within the terms of the numerous laws requiring T&Cs to be met, then repayment demands would be also...
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    Settlement and loan write off

    There seem to be a fair few posts around on the above.

    This may help.

    When agreeing a settlement with HMRC, you are presented with a choice to be made on the loans.

    A. If you wish to have...
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    I suggest that investing in a phone call to AML...

    I suggest that investing in a phone call to AML might be worth while, rather than ask anonymous posters here who probaly don't know?
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    You might also want to check out the CVs of the...

    You might also want to check out the CVs of the people at PTS.

    Independent adviser is the way to go.

    (But I would say that wouldn't I?)
  6. DOTAS case mentioning FMST and certain "Opus" and "Best" entities

    Revenue & Customs v Opus Bestpay Ltd (DOTAS - Application for order that certain arrangements are notifiable) [2020] UKFTT 408 (TC) (18 August 2020)

    Para 62 is a one line summary of the decision...
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    It was a decent enough attempt and I felt in...

    It was a decent enough attempt and I felt in particular for the young lady who lost her father and the guy who has yet to tell his wife and family of his predicament.

    They had more integrity about...
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    Sticky: Loan demands - a summary

    There are now quite a few threads running on the above and this is an attempt to pull them together.

    I've also mentioned what we are others are doing (to the extent that I'm aware of the action)....
  9. To repeat. WTT is a tax specialist in this...

    To repeat.

    WTT is a tax specialist in this area.

    A couple of years ago we added a Legal function to our company.

    We also sought and established relationships with IOM law firms, with a view...
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    There is no "mis-selling" and attempts to go down...

    There is no "mis-selling" and attempts to go down that path will cost you fees for very little result.

    The claim is that these are loans from an employer or a party connected to an employer.
    ...
  11. We've been kindly mentioned above and at risk of...

    We've been kindly mentioned above and at risk of breaching whatever rules apply, I can confirm that WTT has a number of clients who made use of Best Employment Services and a number of related...
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    Let me ask a simple question. In many schemes,...

    Let me ask a simple question.

    In many schemes, HMRC, having failed to chase the employer, is looking to the employee for the alleged tax due.

    In cases such as this, we see the alleged employer...
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    You'll have to explain to me how I do that.

    You'll have to explain to me how I do that.
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    I doubt that I will actually. I think the time...

    I doubt that I will actually.

    I think the time has come to be less free about sharing thoughts on the technical details and handing HMRC's legal team a freebie.
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    Just think about it? The template letter...

    Just think about it?

    The template letter saying "you've not settled, disclose/pay the loan charge" has been ready for weeks.

    All HMRC had to do was remove those who had settled and the rest...
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    Can I ask Webberg, should Felicitas not be...

    Yes they should be asked to prove that a valid assignment of the legal rights has been executed.

    No proof means that Felicitas probably has no right to stand in the shoes of the original lender.
    ...
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    The post above from Mr "Superfly" needs some...

    The post above from Mr "Superfly" needs some commentary.

    First, in establishing whether the loan is "real" you need to look at the creation of the obligation first. Was the lender able to make the...
  18. I'm sorry but the above is misleading. By "met...

    I'm sorry but the above is misleading.

    By "met the disclosure" I assume you mean that you consider you have disclosed the use, value, name, lender, borrower, of the scheme you used between...
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    I understand all of that and deal with it on a...

    I understand all of that and deal with it on a day to day basis. The point of my post was to compare what was being portrayed as an unreasonable HMRC contract with another contract that almost...
  20. You could always try reading this? Apply for a...

    You could always try reading this?

    Apply for a refund or waiver from the Disguised Remuneration Repayment Scheme 2020 - GOV.UK
  21. HMRC cannot point to any law in or around section...

    HMRC cannot point to any law in or around section 29 TMA 1970 which requires "disclosure".

    The entire purpose of discovery is for HMRC to reflect their finding that tax has been under assessed.
    ...
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    Nobody forces you to sign it. The documents...

    Nobody forces you to sign it.

    The documents from the promoters and their supporters are equally scary although usually for the things they don't say.

    For example, in almost all instances, once...
  23. I'd disagree with the first statement. By...

    I'd disagree with the first statement.

    By issuing a DA HMRC has not asked for a disclosure at that time and have instead done their own investigation and decided that the tax due should be...
  24. Certainly a section 9a enquiry is specific only...

    Certainly a section 9a enquiry is specific only as to tax year and therefore can cover all matters in that year.

    A Discovery/s 29?

    I would be able to make a decent case for the second scheme to...
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    You've paid to be part of whatever action Peak...

    You've paid to be part of whatever action Peak are involved in with FS but only now are you looking for some views on whether that was sensible?

    I'm unlikely to be seen as objective in this issue...
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    You've paid for help, but you're asking here? ...

    You've paid for help, but you're asking here?

    I suggest you ask the people you've paid.
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    I will say that if the above fee value is correct...

    I will say that if the above fee value is correct I seriously doubt that any of our clients, even those who joined on Day 1, have paid even half of that in fees.
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    It's not an instant process. I suggest you...

    It's not an instant process.

    I suggest you give them ten working days or so and check again.
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    You have much more faith in MPs than I have. ...

    You have much more faith in MPs than I have.

    We spent three years badgering MPs, getting questions asked at the highest levels, briefing committees, appearing in committees and the result was -...
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    Bored now. Perhaps the issues here are being...

    Bored now.

    Perhaps the issues here are being lost in the teacup storm?

    We are slowly piecing together a picture of where some of the clients Phil was helping are, in terms of agreement (or...
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    Presumably your settlement covered years which...

    Presumably your settlement covered years which show outstanding balances prior to settlement.

    Presumably therefore look to see if any years have outstanding amounts?
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    Check your HMRC account online?

    Check your HMRC account online?
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    The pattern we have seen is: If you applied...

    The pattern we have seen is:

    If you applied before September 2018, then the date the first settlement calculation was produced.

    If you applied after Sep 18 but before 5th April 2019
    ...
  34. Disguised remuneration: guidance following the...

    Disguised remuneration: guidance following the outcome of the independent loan charge review - GOV.UK

    Para 2 - line 1.

    Just as many taxpayers are confused over loan charge and settlement (they...
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    If you sign a settlement contract, that is your...

    If you sign a settlement contract, that is your confirmation that all is closed and will not be opened again.
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    We have certainly been contacted by some...

    We have certainly been contacted by some individuals who were being advised by Phil. I'm guessing that the twitter post is from such an individual.

    We have listened to their stories and where they...
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    Said "lady in Cardiff" is wrong. Even if you...

    Said "lady in Cardiff" is wrong.

    Even if you had obtained from her that wording in a written format, I suspect HMRC will deny it.

    It would appear that the internal communications on this matter...
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    I've been quoted above and would like to clarify...

    I've been quoted above and would like to clarify the comments for those who have not read that other thread.

    The other thread was a discussion about some communication from a scheme promoter to an...
  39. What he said. Pretty much everything you have...

    What he said.

    Pretty much everything you have quoted is nonsense and will not offer any modicum of protection or allow you to make a valid argument.

    One of the frustrations in this whole...
  40. Most advisers are not only closed but too busy to...

    Most advisers are not only closed but too busy to help.

    use estimates and file what you can.
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    There is no "voluntary". You are required by...

    There is no "voluntary".

    You are required by law to disclose loan amounts that are subject to the loan charge.

    This is the situation regardless of whether the year the payments were made is...
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    It says that if you have paid tax on the same...

    It says that if you have paid tax on the same amount as is taxed under the loan charge, then the loan charge will not apply.

    It says that where the loan charge is paid, it will be a credit against...
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    If you sign a binding legal contract with HMRC,...

    If you sign a binding legal contract with HMRC, both parties are to be held to it.

    If you have been dishonest in arriving at the contract, it can be voided. If you have approached the process that...
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    We have been advised that HMRC has agreed that if...

    We have been advised that HMRC has agreed that if the loan charge is paid they will close all enquiries by perhaps a dozen clients now.

    Those with written "evidence" from HMRC have sent that to...
  45. We've touched base with ETC. We will now think...

    We've touched base with ETC.

    We will now think about the situation and no doubt have further discussions with them.

    That will not be until after 30th September.
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    who told you? What qualification/experience...

    who told you?

    What qualification/experience did they have?

    The statement you make is almost certainly untrue in many circumstances.

    Please be careful about listening too and/or believing...
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    Suggest you read the settlement deed.

    Suggest you read the settlement deed.
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    Make sure that you understand the implications of...

    Make sure that you understand the implications of a loan write off.

    HMRC will claim that the write off has two distinct tax implications.

    First an IHT charge may be triggered.

    Second, an...
  49. So you're discussing 2020/21 tax year - your...

    So you're discussing 2020/21 tax year - your original post suggested that you were paying a pension in 2020/21 and expecting it to reduce the 2019/20 tax bill - hence my confusion.

    In net cash...
  50. We do speak with ETC regularly and we will pick...

    We do speak with ETC regularly and we will pick this up with them but it will not be until late next week or the week after.

    There are perhaps two key issues here.

    The first is strategy. We...
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