I am having this problem with KJK Investments/G Loans.

My situation is very similar.

I have been trying, so far without success, to appeal a hefty tax penalty over a pension-backed loan I took out (perhaps naively but in good faith).

With these companies now in liquidation and virtually no hope of recovering the rest of my pension, I could face bankruptcy.

Would be very keen to get in touch with others who have been victims of this firm.

Hello and welcome to CAG/

I've started a new thread for you for advice specific to your situation, please continue to post here.

My best, HB

Hi was you in contact with Optimum Tax Solutions, they are representing more people at a tribunal which took place march 2015, but we stall haven't had a decision , if we have to pay or not.

No, I wasn't part of that. However, when I did some online research I found a report of a tribunal appeal last March that failed. Not looking good.

Ok thanks, I haven't had any correspondence regarding the appeal as yet, I did however have a good talk to FCA, and they say we might have a case against the sip provider Guardian Pension Consultants for lack of due diligence.

Where do Guardian Pension Consultants fit into it? I don't remember having any dealings with them - it was just G Loans and KJK Investments.

Did you put your pension into a Self investment pension plan. SIPP

Yes, it was organised through G Loans as a pension-backed loans. I must check the paperwork to see if Guardian Pension Consultants were involved - the name doesn't sound familiar.

ok they did use other sip suppliers. You would of had to get a sip then you would of told them that you wanted the pension invested in KKJ Investments.

Have you had any correspondence from Aaron & Partners Solicitors regarding the liquidation of KJK and G-loans.

Yes, last year - but nothing recent. What about you?

Yes the same but had a good chat with person dealing with it.

Did you find out you SIPP provider,

Yes, I had a look and it was Corporate and Professional Pensions Ltd. Did you find the Aaron and Partners people helpful?

Yes they were very helpful, I email all my paper work to them, did you get a letter

I haven't had any correspondence from them for a number of months. I think I'll try to contact them.

When did HMRC first make contact with you about the tax

They first wrote to me in 2012 and it's been an ongoing battle since then. At the moment I'm making a final attempt to appeal the whacking great tax penalty they imposed (which I have no way of paying). Have you been in contact with any other victims of these two firms?

Yes I know 2 more, Have a read of this.

Extra-statutory concession A19” (ESC A19)

HOME»FINANCE»PERSONAL FINANCE»CONSUMER TIPS»TAX

Why won't HMRC pay up for tax blunders?

After The Telegraph secures a £10,000 rebate for a reader, questions remain over why taxpayers face such a struggle for justice

HM Revenue and Customs tax Return form and coins

The tax office drags its feet even when it's in the wrong Photo: Alamy

Dan Hyde By Dan Hyde7:03AM GMT 22 Feb 2014 Comments139 Comments

A 64-year-old pensioner who faced a shock £10,000 tax bill because of blunders made by HM Revenue & Customs has won a belated refund following the intervention of The Telegraph.

http://www.telegraph.co.uk/finance/personalfinance/tax/10654501/Why-wont-HMRC-pay-up-for-tax-blunders.html

Its the special tax rule called “extra-statutory concession A19”that I want you to look at how long after the loan and they contacted you.

filrobbo, could you provide a link for that article please? There seem to be several similar ones out there, I'm not sure which one you're quoting.

Thank you, HB

Sorry honeybee. I cant find the artic I have taken it from, but it was to do with the telegraph, but have found this one.

http://www.theguardian.com/money/2010/sep/07/tax-error-letter-templates. And also this http://taxaid.org.uk/wp-content/uploads/2010/02/Standard-letters-for-you-to-use-2012-2013.pdf.

Its a bit old but the letters and rules are the same now.

OK found it now

http://www.telegraph.co.uk/finance/personalfinance/tax/10654501/Why-wont-HMRC-pay-up-for-tax-blunders.html.

Thank you for that, filrobbo.

I've cut down the article above to around 10% of the original, in line with CAG policy, and left a link so that anyone who wants to read more can click on that.

HB

O thank you, in my case I loan from G-Loans was take out in tax year 2009-2010, first contact made by tax was 2012, as far as I was concerned my tax was up-to-date and didn't know KJK and G-Loans were connected, I was only working P/T so I didn't even pay tax.

Thanks - that's very helpful.

I'll have to do a bit more research as I don't know exactly how that would affect me.

My G Loan was taken out in July 2011 and HMRC contacted me in 2012

(I presume you also got the letters from G Loans at around that time, including a barrister's opinion saying the loan was perfectly OK?)

However, it was only a couple of months ago that HMRC told me the amount of tax I have to pay as a result of the loan.

am also in the same situation and facing bankruptcy.

The situation is incredulous as Guardian are now chasing me for annual SIPP fees which I cant pay and they are threatening legal action, they will not accept any responsibility for the situation

will be interested to hear more about the process of reporting them to the FCA for not completing due diligence.

have correspondence and copies of accounts which were monthly management accounts which I requested from KJK as I was getting nervous about their financial situation for the 6 months before they were wound up.

They are clearly completely fabricated and may help in any case against them.

you may also be surprised to learn that Greg Garratt from G loans has set up another Financial Services company,

s much for regulations!

I also had a letter from them for fees,

I asked them for a break down of the fees,

I asked for a copy of the agreement which said I had to pay these fees,

I haven't had a reply,

I also stated that their lack of due diligence had a part to play.

How much tax are you having to pay mine is about £19k

Donmac4 have you been or are you on going with an appeal.

I may ask the for the same information.

I know Guardian are being investigated at the moment by the FCA

I am sure they will be keen to hear that they are chasing fees.

My bill is about £34k

I was also told that there would be no tax liability,

there is no way I can pay as the loan was used to pay off debts so bankruptcy is the only option.

I am going to approach a firm of solicitors to see how we may be able to take further action

I will let you know how I get on.

Also considering going to the press in view of the fact that the directors of the companies seem to be living it up on our cash

A f

I also had a letter from them for fees, I asked them for a break down of the fees, and I asked for a copy of the agreement which said I had to pay these fees, I haven't had a reply, I also stated that there lack of due diligence had a part to play. How much tax are you having to pay mine is about £19,000.