BN66 - JR Judgement Day

[Emigre]

And sorry to disappoint HMRC.

I'm not going anywhere. I'm in it to the bitter end now.

[BolshieBastard]

i have to say if my exposure was "Only" 25k i would fight on also, as the interest wouldnt be killing me as much, but your right, i think alot of people want the monkey off their backs, but i also know alot of people have thought aboout it over night and are fighting on.

And good luck to those that want to fight on. But by the same token I know there are people who despite finding the learned judge's decision flawed, feel they no longer wish to follow that option.

MTM must consider all options that people will want to hear. I for one hope their letter doesnt just say 'we continue.'

Some people have a low 'exposure' to BN66 so settling to them even with interest is something they wish to consider.

[nuffsaid]

Regarding CTD's...

It is something probably too late to use.

http://www.hmrc.gov.uk/manuals/ihtmanual/ihtm30186.htm

I know this post was sometime back, but not sure what you mean by "too late"?

We can still buy a CTD and it will still stop interest accruing on what we "owe", but we just won't earn any interest on it when we win and cash it in (as it was purchased after the due date).

Or have I misunderstood how CTD's work?
Or have you gone on your holidays (P.S. have a good one)

Any one else care to comment?

[nuffsaid]

And sorry to disappoint HMRC.

I'm not going anywhere. I'm in it to the bitter end now.

Whooo hoooo

[nuffsaid]

Also, anyone know if the Closure Notices included NI?

[GavM]

YAY!!!!!!!!!

Thank you, and Mrs Rhubarb.

+1999 approx

[moira under the stairs]

Also, anyone know if the Closure Notices included NI?

NO it doesn't !! another piece of stealth tax !!! start paying and they have you by the short and curlies and won't stop until they have the last ounce of blood from you.

You can't be deal or be reasonable with the un-reasonable.

[bananarepublic]

I know this post was sometime back, but not sure what you mean by "too late"?

We can still buy a CTD and it will still stop interest accruing on what we "owe", but we just won't earn any interest on it when we win and cash it in (as it was purchased after the due date).

Or have I misunderstood how CTD's work?
Or have you gone on your holidays (P.S. have a good one)

Any one else care to comment?

Buying a CTD stops interest accruing on the money you owe, if my understanding is correct. However, as it will be past the "due" date of the tax the CTD won't accrue any other interest - unless we win.

Remember, only buy it for the outstanding tax, not the interest as this doesn't compound.

[DonkeyRhubarb]

We can still buy a CTD and it will still stop interest accruing on what we "owe", but we just won't earn any interest on it when we win and cash it in (as it was purchased after the due date).

You can take out a CTD at any time. It won't help with the interest that has already accrued, but it will stop any further interest from accruing.

HMRC charge 2.5% over base rate (ie. currently 3%).

If you cash it in, you basically get your deposit back. (If there is any interest, you can safely assume it will be bugger all.)

[moira under the stairs]

And sorry to disappoint HMRC.

I'm not going anywhere. I'm in it to the bitter end now.

God Bless you Mrs Rhubarb