Welcome to Day 1 of Year 0.
If you've registered for a CLSO calculation, you are required to AGREE AND PAY it by 30th September.
When you get the calculation - CHECK IT VERY CAREFULLY. For preference share it with your adviser.
If you decide to accept it (and all its uncertainties) then you need to make suitable arrangements to pay. You then need to consider whether you have liabilities beyond 2010/11 and how you deal with them.
If you decide not to accept, then you also have to deal with the years to 2010/11.
For ALL years not closed by the CLSO, your choices are: (I've ignored APN for now)
1. Wait for HMRC to issue an assessment - depending on scheme perhaps 3 to 5 years
2. Pay the assessment (after allowing for APN paid).
3. Appeal the assessment - which HMRC will the seek litigation on.
4. Fight the position in Court, either alone or in a group - final decision perhaps 7 years from now assuming you can afford it.
5. Try to negotiate with HMRC either alongside preparing for litigation or instead of.
Take control.
Decide on a strategy and execute it.
Be flexible because Court decisions already in the pipeline could dictate a change in strategy and new cases are being lined up.
If you decide to remain in splendid isolation, beware HMRC trying to pick you off.
Join one or more groups depending on your inclination on strategy.
If you've registered for a CLSO calculation, you are required to AGREE AND PAY it by 30th September.
When you get the calculation - CHECK IT VERY CAREFULLY. For preference share it with your adviser.
If you decide to accept it (and all its uncertainties) then you need to make suitable arrangements to pay. You then need to consider whether you have liabilities beyond 2010/11 and how you deal with them.
If you decide not to accept, then you also have to deal with the years to 2010/11.
For ALL years not closed by the CLSO, your choices are: (I've ignored APN for now)
1. Wait for HMRC to issue an assessment - depending on scheme perhaps 3 to 5 years
2. Pay the assessment (after allowing for APN paid).
3. Appeal the assessment - which HMRC will the seek litigation on.
4. Fight the position in Court, either alone or in a group - final decision perhaps 7 years from now assuming you can afford it.
5. Try to negotiate with HMRC either alongside preparing for litigation or instead of.
Take control.
Decide on a strategy and execute it.
Be flexible because Court decisions already in the pipeline could dictate a change in strategy and new cases are being lined up.
If you decide to remain in splendid isolation, beware HMRC trying to pick you off.
Join one or more groups depending on your inclination on strategy.
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