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    Default HELP! HMRC letter demanding more than 30K! Desperate!

    Hi

    I am desperate to get some information and help. I’ve received a letter from HMRC asking to pay more than 30K under tax avoidance for the year 2012/13 under the discovery provision of Section 29 of TMA 1970.

    I was using IQ contracts umbrella company through Darwin scheme for the same.IQ consultants company no longer exists. They letter asks to pay within the next 40 days. Neither do I have that kind of funds and nor can I pay that kind of money in the future. The company has raised their hands and say they have nothing to do with this. This is the first and only letter I received. Also I am going away to another country next week for 2 weeks for a planned operation that my Mom needs and need to inform HMRC the same and as the letter suggests.

    I do not know the way forward. What should the next step be? I am a bit worried to get in touch with HMRC directly.

    Anyone faced the similar issue? can anyone tell me what and how should i contact HMRC?

    I am desperate, please help.

    Regards.

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    Nervous Newbie

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    Hi

    I cannot give any advice on how / why this has happened. Just to say, I would contact HMRC immediately - explain the situation, ask for their help. Good luck.

  3. #3

    Contractor Among Contractors

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    A discovery notice is appealable, and you have 30 days to appeal. Do not panic. You might want to ask a professional outfit familiar with these schemes, like WTT consulting or any other.

  4. #4

    Still gathering requirements...


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    Quote Originally Posted by Dee Ava View Post
    Hi

    I am desperate to get some information and help. I’ve received a letter from HMRC asking to pay more than 30K under tax avoidance for the year 2012/13 under the discovery provision of Section 29 of TMA 1970.

    I was using IQ contracts umbrella company through Darwin scheme for the same.IQ consultants company no longer exists. They letter asks to pay within the next 40 days. Neither do I have that kind of funds and nor can I pay that kind of money in the future. The company has raised their hands and say they have nothing to do with this. This is the first and only letter I received. Also I am going away to another country next week for 2 weeks for a planned operation that my Mom needs and need to inform HMRC the same and as the letter suggests.

    I do not know the way forward. What should the next step be? I am a bit worried to get in touch with HMRC directly.

    Anyone faced the similar issue? can anyone tell me what and how should i contact HMRC?

    I am desperate, please help.

    Regards.

    they are mentioned on this thread here as iq contracts: http://forums.contractoruk.com/hmrc-...ection-9a.html

    and assuming it's the same group this website would indicate they are still around:

    https://www.iqcontracts.com/

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    Contractor Among Contractors


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    Quote Originally Posted by WalterWhite View Post
    they are mentioned on this thread here as iq contracts: http://forums.contractoruk.com/hmrc-...ection-9a.html

    and assuming it's the same group this website would indicate they are still around:

    https://www.iqcontracts.com/
    Be careful.

    The IQ that existed when the loans were drawn and the current iteration are not the same.

    As the man said - get advice.

    An appeal can be very simple. I've posted this before.

    Dear sir,

    I have an assessment - I don't agree it is correct - this is an appeal - please postpone the tax until we agree a value.

    Love and kisses

    Disgruntled taxpayer.

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    Still gathering requirements...


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    Quote Originally Posted by webberg View Post
    Be careful.

    The IQ that existed when the loans were drawn and the current iteration are not the same.

    As the man said - get advice.

    An appeal can be very simple. I've posted this before.

    Dear sir,

    I have an assessment - I don't agree it is correct - this is an appeal - please postpone the tax until we agree a value.

    Love and kisses

    Disgruntled taxpayer.
    Very convenient!

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    I strongly recommend speaking to WTT. Good luck.

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    Quote Originally Posted by Dee Ava View Post
    Hi

    I am desperate to get some information and help. Iíve received a letter from HMRC asking to pay more than 30K under tax avoidance for the year 2012/13 under the discovery provision of Section 29 of TMA 1970.

    I was using IQ contracts umbrella company through Darwin scheme for the same.IQ consultants company no longer exists. They letter asks to pay within the next 40 days. Neither do I have that kind of funds and nor can I pay that kind of money in the future. The company has raised their hands and say they have nothing to do with this. This is the first and only letter I received. Also I am going away to another country next week for 2 weeks for a planned operation that my Mom needs and need to inform HMRC the same and as the letter suggests.

    I do not know the way forward. What should the next step be? I am a bit worried to get in touch with HMRC directly.

    Anyone faced the similar issue? can anyone tell me what and how should i contact HMRC?

    I am desperate, please help.

    Regards.
    Why are HMRC still sending these assessment notices out? They already have the new legislation that will catch the use of loan schemes. I suspect it is because they can charge compound interest for open years post 5th April 2019.

  9. #9

    Still gathering requirements...


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    Quote Originally Posted by Smurfburger View Post
    Why are HMRC still sending these assessment notices out? They already have the new legislation that will catch the use of loan schemes. I suspect it is because they can charge compound interest for open years post 5th April 2019.
    This

    If people can get through to 2019, if they are a Ltd Company contractor and can save enough personally before then, they will be able to take no salary/divs and just declare their previous loans as income. This will bring down the liability

    I haven't had this confirmed, however everything I have read suggests this to be true

    Apologies if it isn't

  10. #10

    Contractor Among Contractors


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    Quote Originally Posted by Smurfburger View Post
    Why are HMRC still sending these assessment notices out? They already have the new legislation that will catch the use of loan schemes. I suspect it is because they can charge compound interest for open years post 5th April 2019.
    Interest on overdue tax is never compounded.

    They are sending them out because otherwise they risk missing a year in which they believe you had taxable income undeclared.

    That is arguably contrary to the whole purpose of the discovery provisions (and one we regularly challenge) but that is why.

    If the 2019 charge gets amended to exclude closed years (not impossible, just difficult) then without an assessment to keep the year open, there is no tax due.

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