This thread is for those who have recently received a Discovery Asessement from HMRC for loans made via an EBT in 2008/9 using Kinsella Solutions Ltd.
I received notification March 1st of HMRC discovery. Would be interested in teaming up with anyone using the scheme and had the same letter. Like the other threads it seems we need to lodge an appeal and then align with all the other good advice.
CUK Contractors Respond:
I received my 08/09 Kinsella letter last week. Having read the views of Cojak, DonkeyRhubarb and others I quickly decided this wasn't something I could manage on my own.
Kinsella proved difficult to track down and I didn't think this was something my ltd co. accountant was best placed to help with, but the accountant who helped create the scheme has been extremely helpful and is managing my appeal.
If the administrator would kindly allow me to PM I'd be happy to share some more details.
I have an insurance policy through my limited company that my accountant holds. This covers me for legal representation, thankfully, even on this EBT scheme.
My accountant spoke with Michael Perry this morning and we are looking at him defending this. He did state that this is the first time he's heard of the Kinsella scheme so would be interested in all information that we can pick up to suppoprt the case.
Administrator please set me up to be able to PM.
The first thing is to lodge the appeal with HMRC.