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Loan Linked to Shares Investment

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jamesleamanjamesleaman Forumite
2 posts
Dear All,

In 2011 I took the opportunity for a loan with SKW Investments Ltd, this was on the condition that I purchased a number of ordinary shares with Imperium Enterprises Ltd, Liverpool, and placed this in the management of a Sippchoice Bespoke SIPP.

Since this time, I have been contacted on a number of occasions by SKW, Imperium and HMRC regarding whether this loan was liable for Tax. Since then I have tried on a number of occasions to seek re-embursment for the value of my shares (approx to value of £50k) but each time have been advised by Imperium Ltd that they are unable to find a buyer for these shares. I am aware that my choice on this occasion may have been the wrong one however surely I should be able to get access to my own investment monies.

Is anyone in a similar situation and able to help me with a way forward?

Kind Regards

James

Replies

  • Drp8713Drp8713 Forumite
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    It sounds like a classic pension liberation scam.

    I would assume the shares are worthless, thus nobody wants to buy them.

    Your "own monies" are gone, as you bought shares with them, which are now worthless.

    Also yes, HMRC will almost certainly hit you with a 55% tax charge if the above is correct, as what you did was illegal.

    See http://www.thepensionsregulator.gov.uk/docs/pension-liberation-fraud-action-pack.pdf
  • atushatush Forumite
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    Oh dear, yet another scam.

    It is a question, why unregulated investments are allowed in pensions at all, they should not be.

    Surely if all unregulated investments were banned in pensions incl Sipps, then the scams would evaporate?
  • dunstonhdunstonh Forumite
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    however surely I should be able to get access to my own investment monies.

    There has to be a buyer for you to get your money. With illiquid investments, you can end up waiting a long time, if ever.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thanks for your replies and sorry for the lateness of my response.

    I have taken into consideration what you have said, however I'm not convinced I have been 'scammed' here. After reading through the PDF drp8713 attached, I can conclude that my funds have not been invested offshore.

    The company I invested my shares in are a UK Registered Company with HQ in Liverpool, and after performing a Company Check I have seen that they have net assets in the hundreds of millions of pounds. This is also the same with SKW Investments which are the company 'managing' my investment.

    Since placing the investment over 3 years ago, I have consistently received quartely statements valuing my shares, with the most recent one valuing you them at just over £51k.

    My question is: If these companies that I'm dealing with were a ‘scam’ then surely these companies would of been found out and liquidised within the last 3 years?

    Any further thoughts?
  • Drp8713Drp8713 Forumite
    895 posts
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    Did their company websites come up when you searched? They didnt for me. Unusual for a company to not have a website these days. Also their address is an IT company who rent 'office space'. Why not try and call the IT company and see if they have heard of them.

    https://www.fsa.gov.uk/register/firmSearchForm.do

    Neither are registered with the FCA.

    I hope for your sake its not a scam. But they are not registered, have a dodgy adress and offered you an illegal loan. I cant see how they can be legit.
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