No To Retro Tax - Ongoing battle against S58 FA2008

[DonkeyRhubarb]

To pay my APN or not to pay….

Currently I don’t officially have an unpaid debt and therefore my credit score is very healthy, however I’m assuming that’ll change if I don’t pay my APN?? Anybody have any thoughts on this??

For me the timing couldn’t be worse as I need the money to get a new business of the ground (which has the potential to get me out of this mess), however I’ll never be able to raise the required funding if non-payment of the APN appears as an unpaid debt on my credit score.

In addition if the various legal challenges aren’t successful I expect to be hit by more APN’s so there’s possibly no point me settling this first round if I ultimately face bankruptcy regardless.

By "not paying your APN" do you mean being party to a JR where there is a court order preventing enforcement? In this scenario it might not show up on your credit record.

[Fireship]

By "not paying your APN" do you mean being party to a JR where there is a court order preventing enforcement? In this scenario it might not show up on your credit record.

I will be a party to the MontP JR, however said JR may not be in flight until after the payment due date. There is also much discussion regards whether a JR will actually result in demands for payment being stood over whilst the legal process plays out…

[DonkeyRhubarb]

I will be a party to the MontP JR, however said JR may not be in flight until after the payment due date. There is also much discussion regards whether a JR will actually result in demands for payment being stood over whilst the legal process plays out…

Hopefully the Montpelier letter this week will clarify some of this.

You can delay the due date by making representations. Montpelier may provide some wording for this.

[DonkeyRhubarb]

22 new members have joined NTRT so far this month.

[elpinar]

I got mine as well

my refund has gone back into ground hog day land ..... to call th avoidance unit ? who are they ? how do i get through to them

[TalkingCheese]

my refund has gone back into ground hog day land ..... to call th avoidance unit ? who are they ? how do i get through to them

They are the avoidance unit after all... tricky to get hold of

[lilo]

CTDs

So, I thought that CTDs were not linked to a specific tax liability but looking at the letter I received the other day it appears they are. I bought my CTD in 2010 but it has a date of deposit of 2009. The letter says "Interest on your deposit is calculated on a daily bases. This period of interest will not exceed 6 years. It will run from the Certificate date until the earlier of:

• the due date of the tax liability it is being paid against
• the date on which the deposit is withdrawn for cash
• the sixth anniversary of the date on your certificate"

Is this right? I didn't specify any liability when I bought the CTD.

Note the spelling error 'bases' was theirs not mine!.

[DonkeyRhubarb]

Is this right?

No, a CTD can be used against any tax liability.

[lilo]

No, a CTD can be used against any tax liability.

So they are cutting off the interest based on their assumption that I will be using my CTD to cover my oldest liability? I can do without their miserable interest but do I take it that leaving the CTD untouched will still prevent interest accruing on the alleged liability?

[DonkeyRhubarb]

So they are cutting off the interest based on their assumption that I will be using my CTD to cover my oldest liability? I can do without their miserable interest but do I take it that leaving the CTD untouched will still prevent interest accruing on the alleged liability?

The 6 year limit for paying interest is from when you took the CTD out, and nothing to do with your liabilities.

CTDs prevent interest accruing indefinitely.