BN66 - how quickly would you like a resolution?

[DonkeyRhubarb]

I'd like to take a quick strawpoll of those affected to see whether a majority would prefer a quick resolution (even if we lose) or if most would be happy for it to drag on for years.

Some may prefer it to be resolved quickly to have closure.

On the other hand, if you are facing losing your home, bankruptcy then maybe the longer you can put this off the better.

Obviously, unless you have CTD/savings, the longer it goes on the more interest will have accrued but it does give you more time to make contingency plans etc.

[BolshieBastard]

I want it decided like, yesterday preferably so I can have my CTD back (which I know I'll never see again!)

Dont understand why some people want it to drag on for as long as possible, dont they want the monkey off their back or do they really think HMRC are going to 'give up'?

[DonkeyRhubarb]

I want it decided like, yesterday preferably so I can have my CTD back (which I know I'll never see again!)

Dont understand why some people want it to drag on for as long as possible, dont they want the monkey off their back or do they really think HMRC are going to 'give up'?

Assuming the worst case scenario and we were to lose, it's different for people who don't have the means to pay. Getting the "monkey off their back" might come at a very high price ie. bankruptcy/losing their home. Time may be the only hope they've got of avoiding ruin.

[swede]

Assuming the worst case scenario and we were to lose, it's different for people who don't have the means to pay. Getting the "monkey off their back" might come at a very high price ie. bankruptcy/losing their home. Time may be the only hope they've got of avoiding ruin.

Yes indeed. And more chance of winning the lottery in the meantime.

[Kevthered]

Though I have some assets I can't cover the full costs if heaven forbid, we should lose. To pay it all off I would have to sell my property and downsize. I am probably in a better position than most as all my children are now grown up so there is just me and my wife to worry about. I find it a difficult decision on when I want this to be over, if it was tomorrow how long would I have to pay? I could probably get half the money in a matter of 2-3 weeks, but the remainder would depend on the selling of my property. How long are HMRC likely to wait for this? Also the first year of the scheme I haven't received a CN for and it was never under investigation. Do I still need to allow for owing this? Even though it was accepted by HMRC, because of the retrospection aspect can HMRC decide to investigate now and say that I owe the money? Also, if this is the case, can HMRC charge me interest on late payment, even though I never knew the money was owed? It really is a bag of worms

[TAF4]

Kick it into the long grass............

The longer the better for me. I'm an old git trying to recover for the loss of value of my pension fund. I'll be working until I drop and then off to knackers yard for glue.

The debt is bigger than I can hope to repay and the interest moves it further out of reach by the day. When the interest on retrospective debt becomes obscenely large, the embarrassment factor will add weight to the whole problem HMRC have saddled themselves with.

The long grass option gives all the players the opportunity to drop this sometime in the future without the embarrassment that the full glare of a test case in the courts would bring.

My two cents.

[smalldog]

the longer the better for me, at least I might then have a chance to get some investment working to meet the eventual demand. Right now it would mean bankruptcy, who knows in the future it might not, not certain of course but there is hope.

[DonkeyRhubarb]

I'm sure everyone would welcome a quick resolution ..........................assuming it was in our favour!

However, I can't see it being quick.

If we're going to lose, then for many the longer it takes the better.

Yes, the interest is a worry but it is possible to mitigate this by saving, overpaying your mortgage etc.

If it drags on for long enough, then inflation will wipe out a big chunk of the debt.