BN66 - Time to fight back: Continued

[BrilloPad]

I somewhat foolishly asked HMRC for an estimate of what they thought I owed. They somewhat surprised me by very promptly sending a very thorough set of computations including variable interest rate calculation over the many years since I was with MP, that came within £300 of MP's computation.

Re closure notices, when they are received, do we appeal them ourselves (if so how), or do we send them to MP for appeal on our behalf.

also given the pending JR that may well find HMRC's action unlawful, why are they wasting their and our time issuing closure notices.



how did they get so f***in stupid.

We just tell them that we are taking professional advice then forward to montpelier - if you dont hear anything then chase them up! They will do the rest.

You are quite right about the closure notices - in fact I believe the pending JR could be one of the reasons for appeal.

"why are they wasting their and our time issuing closure notices." - its just part of their games - trying to destabilize us. Alas our avenue of evening things up has been closed down - but hey ho. TPTB always win - we always suffer.

[SantaClaus]

Still waiting for my closure notice.

I've invested in a shiny new PS-708CD, thats a Ryman's paper shredder to you and me!

Its sitting in front of the letter box waiting too.

[kiwinlondon]

Still waiting for my closure notice.

I've invested in a shiny new PS-708CD, thats a Ryman's paper shredder to you and me!

Its sitting in front of the letter box waiting too.

Now all we need is a postal strike ... or the postman stealing mail like a few years back.....

[BrilloPad]

Now all we need is a postal strike ... or the postman stealing mail like a few years back.....

What hapens if closure notice gets lost in the post? Presumably a valid defence - or is it sent registered?

JUst off to the tower I guess.....

[DonkeyRhubarb]

What hapens if closure notice gets lost in the post? Presumably a valid defence - or is it sent registered?

JUst off to the tower I guess.....

I am checking this with MontP. Screwups in this process could be costly.

[BrilloPad]

I am checking this with MontP. Screwups in this process could be costly.

Montp say :-
========================================
Yes you are correct - Anyone who gets one should send the original (as it has the appeal form attached) to us and keep a copy themselves.

We then appeal on their behalf.

We send the appeals to HMRC. Under the circumstances and considering the volume of appeals we will be sending, if one did get lost in the post HMRC would be hard pressed to say we never sent it.
========================================

BrilloPad says :-
Why do I get the feeling that HMRC might just claim that anyway just as a mind-**** : it all adds to our instability.

[Ratican]

Help Please!!

Hi all - wondering if anyone can offer me some advice please. I guess that many of you will have had decisions like this one to make and I was hoping you could share thoughts / sensibilities here. I realise some of this is already covered in other posts - but thought it would be worthwhile to keep this theme running.
· Today I have been told that I can get money together to pay for the bulk of my liability (55k).
· This is through a remortgage of my flat and is right up to the limit (and to be honest probably valuing the place at more than it is actually worth).
· The interest on the additional lending will be 6.99% - no tie in - fully flexible - tracker - £650 setup fee.
· I think the offer is valid for 6 months
· My exposure is about 53K plus 7k interest and I have the last tax year to think about too - probably about another 17k. So 70K in tax and 7k in interest
· My contract is up in a couple of months
· House prices could go down in my area – although unlikely
· My bank is HBOS…
The questions are:
· Should I take the money out now when the offer is solid? (Try to pay it back as quickly as possible)
· What do I do with the cash? CTD or High interest savings account?
o CTD 2.5% interest
(£114 per mont based on 55K)
o High interest account - 6.5% minus 20% tax = 5.2%
(£238 per mont based on 55K)
o If we lose the interest is currently running at 7.5%
(£343 per mont based on 55K)
o Interest payable on the mortgage would be £320 per month.
· Should I await the result of the JR (what would be the point of waiting)
My own view is that I should secure as much cash as I can as soon as possible to ensure that I can pay it all (or a good chunk) if I have to. Is this sensible though? Peace of mind at a high cost?
I do still believe we will win - but I want to be careful and ensure that, in the unlikely event we were to lose, I will not lose my house. Because I am so confident – maybe the CTD is a poor option?
Opinions very welcome!

[BrilloPad]

....

qq - have you received anything from HMRCto indicate that they "know" about you?

[smalldog]

Hi all - wondering if anyone can offer me some advice please. I guess that many of you will have had decisions like this one to make and I was hoping you could share thoughts / sensibilities here. I realise some of this is already covered in other posts - but thought it would be worthwhile to keep this theme running.
· Today I have been told that I can get money together to pay for the bulk of my liability (55k).
· This is through a remortgage of my flat and is right up to the limit (and to be honest probably valuing the place at more than it is actually worth).
· The interest on the additional lending will be 6.99% - no tie in - fully flexible - tracker - £650 setup fee.
· I think the offer is valid for 6 months
· My exposure is about 53K plus 7k interest and I have the last tax year to think about too - probably about another 17k. So 70K in tax and 7k in interest
· My contract is up in a couple of months
· House prices could go down in my area – although unlikely
· My bank is HBOS…
The questions are:
· Should I take the money out now when the offer is solid? (Try to pay it back as quickly as possible)
· What do I do with the cash? CTD or High interest savings account?
o CTD 2.5% interest
(£114 per mont based on 55K)
o High interest account - 6.5% minus 20% tax = 5.2%
(£238 per mont based on 55K)
o If we lose the interest is currently running at 7.5%
(£343 per mont based on 55K)
o Interest payable on the mortgage would be £320 per month.
· Should I await the result of the JR (what would be the point of waiting)
My own view is that I should secure as much cash as I can as soon as possible to ensure that I can pay it all (or a good chunk) if I have to. Is this sensible though? Peace of mind at a high cost?
I do still believe we will win - but I want to be careful and ensure that, in the unlikely event we were to lose, I will not lose my house. Because I am so confident – maybe the CTD is a poor option?
Opinions very welcome!

my stance is that I am waiting to see how the JR goes before borrowing a shed load of cash which I MIGHT then have to pay back with all the penalties and interest that goes with it. For the sake of a couple of months to at least see how the JR is progressing is it worth committing to big loans, after all a couple of months more interest on what you could owe isnt going to make that much difference is it? If you had the cash its a different situation...

[scott_free]

my stance is that I am waiting to see how the JR goes before borrowing a shed load of cash which I MIGHT then have to pay back with all the penalties and interest that goes with it. For the sake of a couple of months to at least see how the JR is progressing is it worth committing to big loans, after all a couple of months more interest on what you could owe isnt going to make that much difference is it? If you had the cash its a different situation...

"I MIGHT then have to pay back with all the penalties and interest that goes with it" - I thought it was just interest, penalties is a different ball game altogether isn't it ?