No To Retro Tax - Ongoing battle against S58 FA2008

[the great escape]

100%, I have received 4 years and today withdrawal 4 years. I had written to HMRC to request that all withdrawn but in 3 separate letters, all separately sent and to the Glasgow office.

Using Monty style templates or something of your own creation?

[Buzby]

Using Monty style templates or something of your own creation?

all advised by Monty

[the great escape]

all advised by Monty

The Full Monty

[OnYourBikeGB]

I wonder if it is as simple as they can't cope with the workload and have to withdraw due to a possible technical breach on their side? A wild guess. Very odd indeed, and worrying too.

[BolshieBastard]

Hi,
Not sure if anyone has asked this, if you have a CTD for say 30k and 3 years of APNs (that you may need to pay eventually - depending on the submit retract okey kokey tactics of HMRC)
of 10k, 10k and 10k say.

If you get 1 APN for year 1 of 10k can you just use 10k of the 30k CTD or do you have to cash it all in?

Can you leave any unused amount in a CTD for any future years that could be challenged?

Just wondered how it worked.

Also did someone have the number for the tax dept you have to call to get a repayment for more recent years pushed through - I'm now >3k owed back to me and the auto request is not working?

Thanks.

As far as I know, you're not actually cashing in your CTDs against the APN's. As far as I know, you're only 'assigning' one, two or more CTD's you hold against the so called debt of the APNs.

Effectively, HMRC only 'cash in' your CTD if they win and are able to prove there's a tax debt.

[BolshieBastard]

I wonder if it is as simple as they can't cope with the workload and have to withdraw due to a possible technical breach on their side? A wild guess. Very odd indeed, and worrying too.

Very much doubt this. Id wager there something not quite right legally with the APNs that have been issued and then withdrawn.

I very much doubt hmrc will show their hand why they have withdrawn some (not all?) of the APNs.

[DownButNotOut]

received letter from HMRC confirming receipt of representations

Very much doubt this. Id wager there something not quite right legally with the APNs that have been issued and then withdrawn.

I very much doubt hmrc will show their hand why they have withdrawn some (not all?) of the APNs.

Not that I didn't know (registered post) but today I received a letter from HMRC informing me my letter of representation has been received. That's it.

This suggests to me anyone who has received a recent apology from HMRC for sending out an APN in error isn't because of a previous letter of representations. Otherwise why didn't I receive the apology letter.

[bananarepublic]

As far as I know, you're not actually cashing in your CTDs against the APN's. As far as I know, you're only 'assigning' one, two or more CTD's you hold against the so called debt of the APNs.

Effectively, HMRC only 'cash in' your CTD if they win and are able to prove there's a tax debt.

Sorry but I think you are wrong!! The CTDs are encashed for tax. Its like you made a payment on account when you bought the CTD. You can partially encash them.

[Fog]

Huh?

As far as I know, you're not actually cashing in your CTDs against the APN's. As far as I know, you're only 'assigning' one, two or more CTD's you hold against the so called debt of the APNs.

Effectively, HMRC only 'cash in' your CTD if they win and are able to prove there's a tax debt.

So I'm confused now - if I have a CTD (for part of the capital amount due) what do I do? No such apology letter for me ....

Is it just me or do they make things soooo complicated on purpose? Not only do they do this but they lie and cheat and ruin ordinary people's lives.....

Ok rant over. I feel better now. Back to the fight.

[bananarepublic]

So I'm confused now - if I have a CTD (for part of the capital amount due) what do I do? No such apology letter for me ....

Is it just me or do they make things soooo complicated on purpose? Not only do they do this but they lie and cheat and ruin ordinary people's lives.....

Ok rant over. I feel better now. Back to the fight.

You have to decide whether to encash it against the APN.

Potentially there are complexities say if you were in multiple schemes, or if your CTD was purchased before the theoretical date the tax on which the APN was issued was due. Question. Were you in the scheme prior to 04/05 tax year. When did you buy your CTD?

It is unfortunate you can't just reserve the CTD against a liability but you can't.