Settlement deadline for Big Group
Most of you will be aware that Big Group’s stated objective is to reach a settlement with HMRC on the liabilities of contractors who have used a large variety of schemes over the last decade and a half. We believe that we are closer than we ever have been to achieving that objective.
Please be aware that whilst we have made progress, there is no formal settlement agreed with HMRC and the 2019 tax charge announcements makes a formal agreement all but impossible to achieve in a sensible time frame.
This week HMRC published some additional information in relation to the 2019 proposed tax charge and its responses to the “consultation” on its various earlier technical and policy papers. To the surprise of nobody at all the consultation responses have been largely ignored in all important areas and the charge will be introduced with precious little safeguards. Even now we can hear the lawyers rubbing their hands together at the prospect of the fees the inevitable legal challenges will bring.
One important aspect of the announcements was the imposition of a deadline at the end of this tax year. This may yet be overturned, but to be prudent we will be executing the early stages of our settlement proposal before that deadline.
In turn this means that we need to know who in our client group is interested and who is not. We also need to know if the deadline will encourage some who have been hesitating about joining the Big Group, to actually join.
We are therefore imposing a deadline for those who wish to take advantage of the settlement plan. That deadline is a month from now, i.e. 7th January 2017.
Joining Big Group before then and indicating a wish to explore the terms of the settlement will be enough to include you in the process. Joining after that date will not guarantee that you can be a part of it, although we will do our best.
Joining the group will mean paying the initial fee of £160 (incl VAT) and paying at least one monthly instalment of £18. Beyond that there is no obligation. If you did however take the settlement, there would be a separate fee chargeable only at the time the process was executed.
Big Group is not closing and will be open for new joiners for some time yet, but to be part of the current settlement proposal, 7th January 2017 is the cut off.
Thank you.
Most of you will be aware that Big Group’s stated objective is to reach a settlement with HMRC on the liabilities of contractors who have used a large variety of schemes over the last decade and a half. We believe that we are closer than we ever have been to achieving that objective.
Please be aware that whilst we have made progress, there is no formal settlement agreed with HMRC and the 2019 tax charge announcements makes a formal agreement all but impossible to achieve in a sensible time frame.
This week HMRC published some additional information in relation to the 2019 proposed tax charge and its responses to the “consultation” on its various earlier technical and policy papers. To the surprise of nobody at all the consultation responses have been largely ignored in all important areas and the charge will be introduced with precious little safeguards. Even now we can hear the lawyers rubbing their hands together at the prospect of the fees the inevitable legal challenges will bring.
One important aspect of the announcements was the imposition of a deadline at the end of this tax year. This may yet be overturned, but to be prudent we will be executing the early stages of our settlement proposal before that deadline.
In turn this means that we need to know who in our client group is interested and who is not. We also need to know if the deadline will encourage some who have been hesitating about joining the Big Group, to actually join.
We are therefore imposing a deadline for those who wish to take advantage of the settlement plan. That deadline is a month from now, i.e. 7th January 2017.
Joining Big Group before then and indicating a wish to explore the terms of the settlement will be enough to include you in the process. Joining after that date will not guarantee that you can be a part of it, although we will do our best.
Joining the group will mean paying the initial fee of £160 (incl VAT) and paying at least one monthly instalment of £18. Beyond that there is no obligation. If you did however take the settlement, there would be a separate fee chargeable only at the time the process was executed.
Big Group is not closing and will be open for new joiners for some time yet, but to be part of the current settlement proposal, 7th January 2017 is the cut off.
Thank you.
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