Tick tock for 2011/12

[LandRover]

Hi

I have also been caught up in 1 year EBT and 4 years PBT - not a nice few years ahead of more brown envelopes hitting the door mat.

I am in the process of trying to work out if I had funds available (at the moment I dont) to pay all this off how much it would and how likely HMRC would be at collating it together and agreeing to a settlement.....

I am looking at a 6 figure sum which I am obviously going to struggle to pay this... Does anyone have any information on what HMRC would agree to if I went to them and agreed to try and close this once and for all. I.e would they accept 75% of the amount to be paid off if I agreed to do this over x amount of years and paid a lump sum up front?

I may be fortunate enough that I can get a loan from a relative.

I am just stressed to the max over it all - I have spoken to WTT who btw are fantastic and are really the first point of call I would advise anyone worrying about this to go to. You can lay all your cards openly and they will advise what the next steps for your situation should be. Each and everyone's situation is likely to be different however the large majority cannot pay within the unrealistic timescales HMRC throw at us.

BTW HMRC im sure you are reading this - I read recently that PBT loans need to be paid back to the company within 56 years....

Any info appreciated - please no negativity this is difficult for everyone and im sure is affecting each person and family just as hard.

HMRC are not prepared to negotiate at the moment, especially with individuals, you need to join a group and WTT Big Group is for me a good choice. You really are not alone. As you stated WTT Big Group is a great source of help and their strategy ultimately may be what you are looking for, if settlement is the way forward for you. If your PBT company is still around then they should be helping with any responses to HMRC, however if not then its' worth using WTT Big Group as Graham & Rhys are well up to speed on events.

This for many of us has been nothing less than a hellish trial, and we all have good and bad days. But seek help and talk to people, you have done nothing wrong even though HMRC would look at us as criminals. Ultimately this will end one day and hopefully we will be found to have done nothing wrong except use a tax planning arrangements that many wealthy and those connected to the establishment have used for years, even Osborne's family have done offshore deals if you look them up. There will be and end to this but please look at aligning yourself with people who are on your side. It helps.

[SCR]

HMRC are not prepared to negotiate at the moment, especially with individuals, you need to join a group and WTT Big Group is for me a good choice. You really are not alone. As you stated WTT Big Group is a great source of help and their strategy ultimately may be what you are looking for, if settlement is the way forward for you. If your PBT company is still around then they should be helping with any responses to HMRC, however if not then its' worth using WTT Big Group as Graham & Rhys are well up to speed on events.

This for many of us has been nothing less than a hellish trial, and we all have good and bad days. But seek help and talk to people, you have done nothing wrong even though HMRC would look at us as criminals. Ultimately this will end one day and hopefully we will be found to have done nothing wrong except use a tax planning arrangements that many wealthy and those connected to the establishment have used for years, even Osborne's family have done offshore deals if you look them up. There will be and end to this but please look at aligning yourself with people who are on your side. It helps.

Thank you for your response Landrover really appreciated.
It's easy to let this take over just now. I am in contact with Rhys just now and he is quickly becoming my best friend :-)
Thank you again will join big group and stick it out - fight it out and be prepared as much as I can be.

[bytetone]

I filled out a Self Assessment for year ended 2012 and 2013, I was with IQ contracts. I received a letter from HMRC saying following checks on 2013 , there may be inaccuracies ... because of this I need to check earlier return. They want to know how much I received in loans, if I do not provide the information they will make an assessment. I have rang them and they have agreed to provide me with more time.

The scheme was not DOTAS registered and no benefit in kind on P11D.

I think it is inevitable that will receive an assessment in next few months concerning this year. I have contacted CHS who advise to ignore. However what I have heard on forum indicates that will get an iaccurate assessment, so should I provide details so that it is at least correct.

I have joined the Big Group and made enquires about support from them.