Potential client has asked for some guidance - received a follower notice in connection with one of the dreaded tax avoidance schemes he joined some years ago. It sounds like loan charge case.
i normally do not get involved, but this is a side issue that was mentioned at the meeting. He is worried to death.
Apparently, any tax saved was paid out in commission. He is still with the accountants who recommended the scheme but is considering a claim against them.
Just wondering whether anyone has any experience of this particular scheme: ISH Marketing LLP.
The guy has no way of paying back the tens of thousands of pounds demanded by HMRC.
It seems such a shame that he followed advice from his trusted accountant and is now landed with a huge debt. He didn't appear to benefit from the scheme even if it had gone unchallenged.
My question is does anybody know how this particular scheme worked? It appears to have involved a pension scheme and invoices being raised.
Apologies for any typos, finding it difficult typing this post on my phone.