HMRC asking me to repay Fast Tax Rebates Ltd scam rebate

[unclebulgaria67]

@dixon2094
For the EIS, this relates to buying shares in a small company (less than 250 employees). Were you aware of there being any investment involved for the EIS related tax rebate ?

 

If you were not aware of any investment in shares related to tax rebate and no shares were bought on your behalf, then if it were me, I think I might want to contact Action Fraud at some point, when more information about what has happened was available.  If this does turn into being a criminal matter, I wonder whether some compensation may be available through restitution. 

 

I suspect HMRC will have been investigating companies offering tax rebate help and gradually looking into individual taxpayer records to recover any amounts.

[unclebulgaria67]

@dixon2094  Follow the advice in the thread, reporting what has happened to Police etc.  Would be a shame if those responsible got away with their actions.

 

If you don't, HMRC may think you had some knowledge of there being some form of investment that could be subject to verification process in the future, with tax rebates having to be paid back.  If you had no knowledge of what FTR were up to, then you need to report their actions.

[unclebulgaria67]

Point 16 of the HMRC response is a bit concerning.  According to HMRC's response you (Dixon) were fully involved with what FTR were doing. There was a question mark on the EIS scheme being legitmate and the full amount could be repayable.

 

Is there any possibility of suing FTR, if you can track them down and would they be able to settle any CCJ ?

[unclebulgaria67]

The key point I guess is what does the law state ?  Are HMRC correct that the tax reclaim when proved to be a false claim, is always repayable by the taxpayer ?

 

HMRC probably attend the FTT on a weekly basis to argue similar cases and the Judges have probably heard the arguments before. 

 

Agree with the points made by Slick and Ethel above.  This is taking advantage of members of the public who are not aware of the fraudlulent methods companies like FTR appear to be using.  How are HMRC educating the public about these tax reclaim schemes ?

 

Found this Parliament Committee session where person in charge of HMRC discusses problems with rogue agents using EIS to claim false tax refunds.

 

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Parliamentlive.tv - Public Accounts Committee

PARLIAMENTLIVE.TV

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Public Accounts Committee

 

May be worth seeing if there is any Hansard records of when the legislation was debated in Parliament and for any Parliamentary debates on tax reclaims/EIS. I found the Hansard site not great for searching, so Google may be more helpful