BN66 - JR Judgement Day

[bananarepublic]

Also, anyone know if the Closure Notices included NI?

Think so yes. And they didn't take into account any NI already paid (e.g. from employment income), so you may end up getting charged two lots. When I asked HMRC about this they said I would have to claim it back from the contribution agency.

[ContractIn]

And sorry to disappoint HMRC.

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

Even though I am completely deflated and cannot see the wood through the trees I will stick with it.

However this is only because I have a CTD that covers large % of my liability. If I did not have this I would be inclined to speak with HMRC and try and settle. Only because if this does go on for a lot longer (years) and we do lose, which I would think majority of us now believe is highly likely, the impact would be far greater and too much of a burden to carry.

I feel like I am on a roulette table and have all my money on a single number, without the return.

[elpinar]

if you go to www.gateway.gov.uk if enables you to register for the government gateway and then get access to your online tax account. That shows what if anything you owe..

and register for which service ?self assessemnt online ?

[DonkeyRhubarb]

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.

If you can afford to settle, why not just take out a CTD and forget about it? No further interest will accrue and it's sitting there ready to pay off your tax bill.

Even paying on account is better than settling.

Can anyone give me a good reason for settling, when there are other options available?

[smalldog]

and register for which service ?self assessemnt online ?

yes

[DonkeyRhubarb]

I feel like I am on a roulette table and have all my money on a single number, without the return.

Even if the chance of winning is small, it's still a chance.

Settling now would be like burning your lottery ticket before the draw.

I really can't see any good argument for settling.

1) if you haven't got the money it's not an option anyway

2) if you've got the money then invest it, CTD or pay on account

Remember Sods Law

What's likely to happen if you settle?

[ContractIn]

Even if the chance of winning is small, it's still a chance.

Settling now would be like burning your lottery ticket before the draw.

I really can't see any good argument for settling.

1) if you haven't got the money it's not an option anyway

2) if you've got the money then invest it, CTD or pay on account

Remember Sods Law

What's likely to happen if you settle?

I'm not settling, but if I had my liability without any backup I would be inclined to speak with HMRC and see if there are options on starting to pay off. I would hate it in another year or two to have an even larger burden hanging over me. People talking of settling I know why they would consider this. All IMHO.

I'm fortunate to have a CTD.

Glad you are staying on board though.

Cheers

[deckster]

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.'

What else would it say? Why would Montpelier have any interest in any option other than advising us to continue with the fight? There really are only two options - either you fight all the way, or you settle now. If you decide to settle now then you have no further interest in Montpelier, and arguably they have no further interest in you.

[KiwiGuy]

If you can afford to settle, why not just take out a CTD and forget about it? No further interest will accrue and it's sitting there ready to pay off your tax bill.

Even paying on account is better than settling.

Can anyone give me a good reason for settling, when there are other options available?

im a little confused about the CTD route, it basically stops any more interest accureing , not the interest that has already been applyed, so in theory, its the same as putting it in a investment that would ofset that interest. So if i put my money in something i think will make me 20% over the next year, i will be better off than putting it into a CTD?

[swede]

Lets make sods law work in our favour.

Even if the chance of winning is small, it's still a chance.

Settling now would be like burning your lottery ticket before the draw.

I really can't see any good argument for settling.

1) if you haven't got the money it's not an option anyway

2) if you've got the money then invest it, CTD or pay on account

Remember Sods Law

What's likely to happen if you settle?

Tell you what, if we all club together and settle for someone who owes say 10k?.....