Hello All,
I have recently funded a CTD and wanted to apply this against a figure which i am disputing, i received the following today, and i cant understand any part of it...
I am awaiting some answers to some questions, especially around if the CTD stops interest accruing, as this is not stated below.
I have been in contact with the CTD Team and have been advised that there is a problem with using the CTD without raising a charge/'bill' to set it against. I understood that the CTD would be used against the assessment but have now learnt that whilst the CTD can be held on account it will sit unallocated until the charge is released.
Having had a discussion with XXXX YYYY (in the CTD Team) it would appear that the best way forward would be:
• To leave the assessment under appeal but release the stand over which will bring the assessment back into charge - the CTD can then be set against it.
This does mean that the interest from 31 January 2012 will be calculated and will show on the Self Assessment Statement.
• An interest objection will need to be raised in order avoid the Debt Collection Team starting their process for collecting the interest. However, because of your appeal and your objection to the interest charge you have asked not to pay the interest charge at this time. I can note my (your) records so that no collection proceedings should be taken in respect of the interest charge for as long as your appeal remains open. The interest will show as 'collection suspended' on the Self Assessment statement. But please be aware that on determination of the appeal, interest will be payable on the final figure of tax found to be due. This will run from the original due date to the date that the underlying tax was paid.
If you agree that I should proceed I can release the assessment, suspend the interest and request the allocation of the CTD this week, which - I'm told - will take 10 -14 days to allocate as HM Treasury have to do their part.
I will also send you a letter (by email & hardcopy) confirming the amount of interest that is suspended pending the appeal being closed.
I have recently funded a CTD and wanted to apply this against a figure which i am disputing, i received the following today, and i cant understand any part of it...
I am awaiting some answers to some questions, especially around if the CTD stops interest accruing, as this is not stated below.
I have been in contact with the CTD Team and have been advised that there is a problem with using the CTD without raising a charge/'bill' to set it against. I understood that the CTD would be used against the assessment but have now learnt that whilst the CTD can be held on account it will sit unallocated until the charge is released.
Having had a discussion with XXXX YYYY (in the CTD Team) it would appear that the best way forward would be:
• To leave the assessment under appeal but release the stand over which will bring the assessment back into charge - the CTD can then be set against it.
This does mean that the interest from 31 January 2012 will be calculated and will show on the Self Assessment Statement.
• An interest objection will need to be raised in order avoid the Debt Collection Team starting their process for collecting the interest. However, because of your appeal and your objection to the interest charge you have asked not to pay the interest charge at this time. I can note my (your) records so that no collection proceedings should be taken in respect of the interest charge for as long as your appeal remains open. The interest will show as 'collection suspended' on the Self Assessment statement. But please be aware that on determination of the appeal, interest will be payable on the final figure of tax found to be due. This will run from the original due date to the date that the underlying tax was paid.
If you agree that I should proceed I can release the assessment, suspend the interest and request the allocation of the CTD this week, which - I'm told - will take 10 -14 days to allocate as HM Treasury have to do their part.
I will also send you a letter (by email & hardcopy) confirming the amount of interest that is suspended pending the appeal being closed.
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