Settlement Opportunity

[Poppy]

I'm I wrong

That arrangers of such schemes, we're invited to part-take in a settlement opportunity (a couple of years back) and now this is all have a trickle effect on the members ?. I could be widely wrong.

[MrsB1974]

Deadline approaching

Can I just check with those who've contacted Hector... if I've spoken to her and she's sending me out a settlement calculation, then that counts as "engaging with [them] about settlement" before the deadline, doesn't it? I forgot to confirm this on the phone.

Also, last night I found the latest list of DOTAS numbers - but now for the life of me can't remember where it was. Could someone share the link please?


thanks

[Michael J Perry FCA]

Dotas srn's

Can I just check with those who've contacted Hector... if I've spoken to her and she's sending me out a settlement calculation, then that counts as "engaging with [them] about settlement" before the deadline, doesn't it? I forgot to confirm this on the phone.

Also, last night I found the latest list of DOTAS numbers - but now for the life of me can't remember where it was. Could someone share the link please?


thanks

http://bit.ly/1r3DfZU

[MrsB1974]

http://bit.ly/1r3DfZU

Thank you!

[lastManStanding]

Extension to deadline for settlement opportunity

HMRC have extended the time limit for the settlement opportunity to June 2015.

They have also sought to wear those who are resisting down by offering clarification on various points, including why the Rangers and other decisions on ebt in the taxpayers favour are not relevant, and why inheritance tax will apply.

https://www.gov.uk/government/public...information--2

[jbryce]

HMRC have extended the time limit for the settlement opportunity to June 2015.

They have also sought to wear those who are resisting down by offering clarification on various points, including why the Rangers and other decisions on ebt in the taxpayers favour are not relevant, and why inheritance tax will apply.

https://www.gov.uk/government/public...information--2

My accountant just rang to say he's seen this. The IHT thing is confusing the hell out if him, and also the staff he's spoken to at HMRC. He thinks the IHT is the reason that the deadline has been extended. He's off to seek some advice, but rekons that there are inconsistencies here.
His view is that HMRC are desperate to get as many settled as possible before cases hit the FTTs.

Interesting times - and just before Christmas. Bless.

[dangerouswhensober]

Extension of SO due date

HMRC have extended the time limit for the settlement opportunity to June 2015.

They have also sought to wear those who are resisting down by offering clarification on various points, including why the Rangers and other decisions on ebt in the taxpayers favour are not relevant, and why inheritance tax will apply.

https://www.gov.uk/government/public...information--2

Thanks lastManStanding !

Unexpected, but not really surprising ...

I strongly suspect that is because either:

(1) Relatively few people/companies have settled, or indicated that they will settle. That damages the Government/HMRC forecasts of the revenue which will be raised - which is not acceptable to either George Osborne or Hector. By pushing the due date back by six months, they can avoid changing the absolute future value of any revenue estimates - as well as giving themselves time to come up with further legal arguments and (probably) testing a few sample cases in court, and/or

(2) The basis for the settlement offers are still confused - i.e. they can't decide whether to chase up EBT scheme members for IHT or not - this gives them time for further consideration.

(BTW - I requested a settlement figure and got a non-final figure, with a disclaimer that the IHT position was still unclear - so it wasn't actually a final settlement figure - I'm looking forward to putting that letter in front of a judge if/when HMRC come after me legally ...)

Anyway, if the SO due date is pushed back, then so also is the earliest possible APN issue date (provided you have 'engaged' with HMRC - e.g. asked for a final settlement figure). So merry Xmas to you too Osborne, Gauke, Homer, and all of Hectors elves - nice to know that I won't get an APN until 30th June at earliest, and then have until 30th September to pay up.

Think I'll take that Caribbean cruise over Xmas/New Year after all ...

[regron]

What a complete and utter Cluster **** but we already knew that

[NeedTheSunshine]

HMRC have extended the time limit for the settlement opportunity to June 2015.

They have also sought to wear those who are resisting down by offering clarification on various points, including why the Rangers and other decisions on ebt in the taxpayers favour are not relevant, and why inheritance tax will apply.

https://www.gov.uk/government/public...information--2

Thanks for that. Just had a read.

Have to say, I'm still no clearer on the IHT issue.

[DonkeyRhubarb]

https://www.gov.uk/government/public...information--2

FUD FUD FUD FUD FUD...