BESPOKE BRIDGING LOAN

& SHORT TERM LENDER

APN & EBT

LOANS

KNOWLEDGE BASE

Much   has   been   made   of   the   Government’s   clampdown   on   what   it   considers   to   be   corporate   tax   avoidance   in   recent   years   and   Accelerated   Payment   Notices (APNs) are viewed as a key weapon in HMRC’s battle to deliver increased revenue to the Treasury via a ‘fairer’ taxation system. Accelerated   Payment   Notices   are   designed   to   inform   companies   that   they   owe   taxes   which   they   might   otherwise   have   believed   to   be   beyond   the   reach   of HMRC.   The   notices   amount   to   demands   for   payment   of   monies   owed   within   a   period   of   no   longer   than   90   days   and   they   do   not   include   any   scope   for negotiation or appeal on the part of the recipients. More   and   more   directors   and   sole   traders   right   across   the   UK   are   being   confronted   by   sizable   tax   demands   against   them   and   their   organisations   that   they haven’t   budgeted   for.   With   only   three   months   for   the   associated   payments   to   be   made   the   consequences   of   receiving   an   APN   can   mean   serious   financial problems. One   area   where   the   use   of   APNs   is   steadily   increasing   pressure   on   taxpayers   is   against   those   who   still   have   outstanding   loans   from   Employee   Benefit Schemes   (EBTs).   A   series   of   recent   court   decisions,   most   notably   the   long   running   and   high-profile   Rangers   case,   have   all   gone   against   the   taxpayer.   Indeed, the   Rangers   case   was   ultimately   decided   by   the   Supreme   Court   who   agreed   with   HMRC   that   loans   made   to   employees   under   the   clubs   EBT   Scheme   were   in fact remuneration and so subject to tax and NIC. Whilst   many   tax   professionals   continue   to   argue   that   the   Rangers   decision   was   ‘case   specific’   and   that   not   all   EBTs   would   be   covered   by   the   decision,   this hasn’t   stopped   HMRC   issuing   Follower   Notices,   the   prelude   to   them   issuing   an   APN,   to   companies   that   set   up   EBT’s   and   have   not   yet   settled   them.   HMRC’s interpretation is that other tax payers are using the same “scheme.” The   key   to   successfully   dealing   with   issues   around   APNs   and   Follower   Notices   is   to   communicate   as   effectively   as   possible   with   HMRC   about   the   details   of the   situation.   The   sooner   the   recipient   of   a   Follower   Notice   or   an   APN   (they   can   sometimes   be   issued   concurrently)   open   dialogue   with   the   relevant   parties, the better their chances are of overcoming any problems. A   small   number   of   bridging   lenders   have   the   knowledge   and   experience   to   deal   directly   with   HMRC   and   provide   the   bespoke   financial   solutions,   secured   on UK property assets, to allow APNs to be settled. If an APN can be settled quickly it often avoids litigation, winding up and bankruptcy proceedings. Still unsure and need to explore your options? Why not consult an expert? Central   Bridging   are   bridging   loan   specialists   with   a   great   track   record.   We   are   a   principal   lender   offering   a   range   of   loan   facilities   for   business   use   from £250K to £2.5M over periods from 3 to 24 months. Our loans are secured on freehold property across England and Wales. Crucially   you   will   always   speak   to   a   decision   maker   who   will   take   time   to   understand   you   and   your   situation   and   unlike   some   of   the   bigger   banks   will   then tailor a solution that best suits your needs rather than their own. For a confidential discussion in the first instance contact us on:   Tel 03332 400 506   Email enquiry@centralbridging.co.uk Online
Central Bridging, Granary Wharf, Wharf Road, Burton on Trent, Staffordshire, DE14 1DU Tel: 03332 400 506   Email: enquiry@centralbridging.co.uk   Web: www.centralbridging.co.uk Central Bridging is a trading style of Central Bridging Loans Ltd. Registered in England & Wales | Company Registration Number 07728274. Central Bridging is not regulated by the Financial Conduct Authority (FCA). All loans arranged by Central Bridging are non regulated contracts as defined under The Financial Services and Markets (Regulated Activities) Order 2001 and the Financial Service and Markets Mortgage Credit Directive Order 2015. © Copyright Central Bridging Loans Limited Privacy Policy
Facebook Logo Google+ Logo Instagram Logo LinkedIn Logo Twitter Logo Google Maps Logo YouTube Logo ASTL Logo NACFB Logo FIBA Logo London Chamber of Commerce and Industry Logo

BESPOKE BRIDGING LOAN

& SHORT TERM LENDER

Much    has    been    made    of    the    Government’s    clampdown    on    what    it considers   to   be   corporate   tax   avoidance   in   recent   years   and   Accelerated Payment   Notices   (APNs)   are   viewed   as   a   key   weapon   in   HMRC’s   battle   to deliver increased revenue to the Treasury via a ‘fairer’ taxation system. Accelerated    Payment    Notices    are    designed    to    inform    companies    that they   owe   taxes   which   they   might   otherwise   have   believed   to   be   beyond the   reach   of   HMRC.   The   notices   amount   to   demands   for   payment   of monies   owed   within   a   period   of   no   longer   than   90   days   and   they   do   not include any scope for negotiation or appeal on the part of the recipients. More   and   more   directors   and   sole   traders   right   across   the   UK   are   being confronted   by   sizable   tax   demands   against   them   and   their   organisations that    they    haven’t    budgeted    for.    With    only    three    months    for    the associated   payments   to   be   made   the   consequences   of   receiving   an   APN can mean serious financial problems. One    area    where    the    use    of    APNs    is    steadily    increasing    pressure    on taxpayers    is    against    those    who    still    have    outstanding    loans    from Employee   Benefit   Schemes   (EBTs).   A   series   of   recent   court   decisions, most   notably   the   long   running   and   high-profile   Rangers   case,   have   all gone    against    the    taxpayer.    Indeed,    the    Rangers    case    was    ultimately decided   by   the   Supreme   Court   who   agreed   with   HMRC   that   loans   made to   employees   under   the   clubs   EBT   Scheme   were   in   fact   remuneration and so subject to tax and NIC. Whilst    many    tax    professionals    continue    to    argue    that    the    Rangers decision   was   ‘case   specific’   and   that   not   all   EBTs   would   be   covered   by   the decision,   this   hasn’t   stopped   HMRC   issuing   Follower   Notices,   the   prelude to   them   issuing   an   APN,   to   companies   that   set   up   EBT’s   and   have   not   yet settled   them.   HMRC’s   interpretation   is   that   other   tax   payers   are   using the same “scheme.” The   key   to   successfully   dealing   with   issues   around   APNs   and   Follower Notices   is   to   communicate   as   effectively   as   possible   with   HMRC   about the   details   of   the   situation.   The   sooner   the   recipient   of   a   Follower   Notice or   an   APN   (they   can   sometimes   be   issued   concurrently)   open   dialogue with   the   relevant   parties,   the   better   their   chances   are   of   overcoming   any problems. A   small   number   of   bridging   lenders   have   the   knowledge   and   experience to   deal   directly   with   HMRC   and   provide   the   bespoke   financial   solutions, secured   on   UK   property   assets,   to   allow   APNs   to   be   settled.   If   an   APN can     be     settled     quickly     it     often     avoids     litigation,     winding     up     and bankruptcy proceedings. Still   unsure   and   need   to   explore   your   options?   Why   not   consult   an expert? Central   Bridging   are   bridging   loan   specialists   with   a   great   track   record. We   are   a   principal   lender   offering   a   range   of   loan   facilities   for   business use   from   £250K   to   £2.5M   over   periods   from   3   to   24   months.   Our   loans are secured on freehold property across England and Wales. Crucially   you   will   always   speak   to   a   decision   maker   who   will   take   time   to understand   you   and   your   situation   and   unlike   some   of   the   bigger   banks will   then   tailor   a   solution   that   best   suits   your   needs   rather   than   their own. For a confidential discussion in the first instance contact us on:   Tel 03332 400 506   Email enquiry@centralbridging.co.uk Online
Central Bridging, Granary Wharf, Wharf Road, Burton on Trent, Staffordshire, DE14 1DU Tel: 03332 400 506  Email: enquiry@centralbridging.co.uk Web: www.centralbridging.co.uk Central Bridging is a trading style of Central Bridging Loans Ltd. Registered in England & Wales | Company Registration Number 07728274. Central Bridging is not regulated by the Financial Conduct Authority (FCA). All loans arranged by Central Bridging are non regulated contracts as defined under The Financial Services and Markets (Regulated Activities) Order 2001 and the Financial Service and Markets Mortgage Credit Directive Order 2015. © Copyright Central Bridging Loans Limited Privacy Policy
Facebook Logo Google+ Logo Instagram Logo LinkedIn Logo Twitter Logo Google Maps Logo YouTube Logo ASTL Logo NACFB Logo FIBA Logo London Chamber of Commerce and Industry Logo

APN & EBT

LOANS

KNOWLEDGE BASE

Central Bridging Loans Logo
Products Dropdown Arrow
Central Bridging Loans Logo