So I assume if a CTD stops earning interest after 6 years on, then HMRC stop charging interest after 6 years on a disputed tax bill? Surely it works both ways! Oh no hold on, I forget we live in a real world orwellian animal farm.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
No To Retro Tax – Campaign Against Section 58 Finance Act 2008
Collapse
This topic is closed.
X
X
Collapse
Topic is closed
-
-
So what happens when an old-style 6 year limit CTD expires. Does the interest start accruing from 6years+1day, so there is at least some benefit in retaining it - although interest bills will now start to grow - or is it effectively cashed in automatically, losing all the benefits of ever having bought it in the first place.Comment
-
I've never heard of old and new-style CTDs. I'm certainly not aware of any changes since 2008.
https://www.gov.uk/certificate-of-tax-deposit-schemeComment
-
Originally posted by webberg View PostI would add a little colour.
The current series of CTD's operate as the previous poster advised. The immediately preceding series did not and did have an expiry date.
If you're not sure which one you have, ask HMRC.
If you want to preserve the interest on overdue tax protection AND interest on any cash being repaid (0.5%) then cash the CTD in on your HMRC account.
Linkie to hmrc site that supports this assertion please!I couldn't give two fornicators! Yes, really!Comment
-
sorry to hear of the ctd confusion.
glad I stuck the money on my flexible mortgage instead of a ctd
#interestrateswapComment
-
Originally posted by CanPayButWouldRatherNot View Postsorry to hear of the ctd confusion.
glad I stuck the money on my flexible mortgage instead of a ctd
#interestrateswapLast edited by Retro; 4 February 2015, 12:36.Comment
-
Interest CTD
[QUOTE=smalldog;2051559]So I assume if a CTD stops earning interest after 6 years on, then HMRC stop charging interest after 6 years on a disputed tax bill? Surely it works both ways! Oh no hold on, I forget we live in a real world orwellian animal farm.[/QU
Of course they want our money for free, and we have to pay interest, just like loans/debt from their banster buddies. Bansters also can have our money lent to them interest free from our govmt. How else would they control us and keep us in debt slavery.
All seems like a bunch of made up rules with no reasoning, rational or logic behind it.Comment
-
Come all without, come all within. You'll not see nothing like the mighty Quinn.
This year I am doing a Manfred Mann and attempting a Continuous Quin - a 12.5 mile swim, 560 mile cycle followed by a 130 mile run. This will be unsupported which is an extra challenge in itself. And I will be using cheap equipment - my wetsuit cost £200 and my bike £300.
https://www.justgiving.com/AndrewNeil1/
I hope you are all well?Comment
-
Originally posted by Laxmi View PostAll seems like a bunch of made up rules with no reasoning, rational or logic behind it.Comment
-
Very interesting news letter! Sorry, can only afford a small donation at this time but its a tesco!I couldn't give two fornicators! Yes, really!Comment
Topic is closed
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment