BN66 - Court of Appeal and beyond

[silver_lining]

slight aside....

An interesting read.... to take your mind slightly off centre....

Isle of Man Judgments Online

[OnYourBikeGB]

A slight aside guys and gals, and possibly entirely unrelated, but I logged into my online HMRC account to make my July payment, and I noticed they'd sent me a message, dated today. It was only a 'welcome' message to their new secure e-mail system, but there was a line in it that made me sit up:

Please note the following: Delivery of messages to your secure mailbox will be regarded as delivery to you under the Terms and Conditions of the relevant business service for which you are enrolled.

So, just as a word of caution, anyone who has registered online might just want to keep a regular check for the next while. Think of all those 2nd class postage fares they will save.

[SantaClaus]

A slight aside guys and gals, and possibly entirely unrelated, but I logged into my online HMRC account to make my July payment, and I noticed they'd sent me a message, dated today. It was only a 'welcome' message to their new secure e-mail system, but there was a line in it that made me sit up:

Please note the following: Delivery of messages to your secure mailbox will be regarded as delivery to you under the Terms and Conditions of the relevant business service for which you are enrolled.

So, just as a word of caution, anyone who has registered online might just want to keep a regular check for the next while. Think of all those 2nd class postage fares they will save.

Funny that. Try sending them a letter and deeming they have received it by default!

[BolshieBastard]

Tried to post previously but appear to have failed!!!

I've been lurking for a few years now and was bitterly disappointed with this mornings decision. Being on the wrong side of £180K liability, and having been kicked too often I am now looking at what options are open. I have ruled out CTD as this to me sends the wrong message to HMRC? - that's the conspiracy theorist in me coming out.

Given that Pension Provisions have recently changed I am going to speak to my IFA to see if I am able to utilise any unused Pension Allowances (Up to £50K). Although I'll need to find away of funding this! Other options are to put MPs PI insurers on notice - again i'll speak to my IFA to see what the best course of action is to lodge this?

I'd also like to thank DR and other for keeping me sane over the last few years - a big thanks

Commiseration, 200k is a lot of money.

Regarding the CTD, I'd advise you reconsider. The CTD isnt linked to HMRC and your part in all of this. The CTD stops any further interest accruing to your exposure and doesnt play into HMRC's hands in any way.

If you take a CTD, you only need cover the your initial exposure ie excluding interest.

[Cantthinkof1]

CTD's ....

Apologies for asking a question that has been asked a thousand times! - but can someone tell me exactly how I would go about obtaining one of these? - Once handed over does the money remain with HMRC or are we in a position to claim this back in the future if things go our way?
To be honest, I know DR has explained all this before, but maybe someone may like to post details again on here as it is probably extremely relevant to those people thinking of fighting on...
I am still numb at today's verdict, but just gathering all the facts so that I can make an informed decision as to which way to go!
Many thanks

[BolshieBastard]

Apologies for asking a question that has been asked a thousand times! - but can someone tell me exactly how I would go about obtaining one of these? - Once handed over does the money remain with HMRC or are we in a position to claim this back in the future if things go our way?
To be honest, I know DR has explained all this before, but maybe someone may like to post details again on here as it is probably extremely relevant to those people thinking of fighting on...
I am still numb at today's verdict, but just gathering all the facts so that I can make an informed decision as to which way to go!
Many thanks

See here

You can cash in the CTD (if you ever wanted) at any time. You dont have to tell them why you are making the CTD.

HTH.

[Cantthinkof1]

See here

You can cash in the CTD (if you ever wanted) at any time. You dont have to tell them why you are making the CTD.

HTH.

Many Thanks for that - I see from their website that as from 5/12/2008, they pay 0% interest on anything less than £100,000! As I understand it, even though they are paying 0% interest on anything less than £100,000 if you had say an initial liability of £50,000 then a CTD of £50,000 now would stop any FURTHER interest being added (I appreciate that interest would have already accrued on the £50,000 up until the day they receive your money for the £50,000 CTD)...
Do I have that correct?

[BolshieBastard]

Many Thanks for that - I see from their website that as from 5/12/2008, they pay 0% interest on anything less than £100,000! As I understand it, even though they are paying 0% interest on anything less than £100,000 if you had say an initial liability of £50,000 then a CTD of £50,000 now would stop any FURTHER interest being added (I appreciate that interest would have already accrued on the £50,000 up until the day they receive your money for the £50,000 CTD)...
Do I have that correct?

A CTD effectively stops any further penalty interest HMRC may \ will apply to a tax debt from the day cleared funds are recieved.

So yes, if the amount of taxed 'owed' is 50 grand and you take a CTD for 50 grand, when you hand over the CTD to HMRC, there will be no additional interest added to the 50 grand.

[Cantthinkof1]

A CTD effectively stops any further penalty interest HMRC may \ will apply to a tax debt from the day cleared funds are recieved.

So yes, if the amount of taxed 'owed' is 50 grand and you take a CTD for 50 grand, when you hand over the CTD to HMRC, there will be no additional interest added to the 50 grand.

At the risk of being a total pain here, can you just clarify 1 thing for me! - and apologies for this... In my example, my initial liability was £50,000, but since then interest would have accrued, so would my CTD have to be just for the original £50,000 or would it have to be £50,000 PLUS the interest accrued... hope I have explained my question a little better this time - apologies!!

[BolshieBastard]

At the risk of being a total pain here, can you just clarify 1 thing for me! - and apologies for this... In my example, my initial liability was £50,000, but since then interest would have accrued, so would my CTD have to be just for the original £50,000 or would it have to be £50,000 PLUS the interest accrued... hope I have explained my question a little better this time - apologies!!

No probs.

Your CTD would be just for the original 50 grand. The interest is just simple interest and isnt compounded so that's why you dont need to cover the interest in the cTD.

You do have to make other provisions for when the time comes to pay the, say, interest already accrued on the 50 grand though.