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EBT settlement period extended?

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    EBT settlement period extended?

    Does anyone know how this translates to e.g. Edge and some of the other schemes that used EBTs?

    I would think better to settle now than wait for the 2019 tax charge to kick in, and another 3 years worth of interest.

    I didn't settle as part of the EBT settlement opportunity that ran up until 31/03/2015. Paid some APNs instead.

    Article: https://www.cchdaily.co.uk/hmrc-exte...n-scheme-users
    Last edited by EBTContractor; 26 July 2016, 05:36.

    #2
    I thought this was for companies that were using EBT schemes and not contractors but I could be wrong. Webberg will probably know more..

    Comment


      #3
      The extension is for companies operating EBT's.

      The original deadline was end of November 2016 and is now March 2017.

      I'm hoping, with no real conviction, that somebody in Treasury/HMRC will now look at the proposed April 2017 tax charge and apply some common sense to it.

      Perhaps that's pushing things too far.
      Best Forum Adviser & Forum Personality of the Year 2018.

      (No, me neither).

      Comment


        #4
        Originally posted by EBTContractor View Post
        Does anyone know how this translates to e.g. Edge and some of the other schemes that used EBTs?

        I would think better to settle now than wait for the 2019 tax charge to kick in, and another 3 years worth of interest.

        I didn't settle as part of the EBT settlement opportunity that ran up until 31/03/2015. Paid some APNs instead.

        Article: https://www.cchdaily.co.uk/hmrc-exte...n-scheme-users
        If you have paid APNs for the years you were involved there won't be any further interest?

        Comment


          #5
          Originally posted by Dylan View Post
          If you have paid APNs for the years you were involved there won't be any further interest?
          Correct. Paying an APN is the same as paying on account.

          Comment


            #6
            Originally posted by webberg View Post
            I'm hoping, with no real conviction, that somebody in Treasury/HMRC will now look at the proposed April 2017 tax charge and apply some common sense to it.

            Perhaps that's pushing things too far.
            Do you mean April 2019 or what's the 2017 charge?

            Originally posted by DonkeyRhubarb View Post
            Correct. Paying an APN is the same as paying on account.
            Lovely stuff! How generous

            Comment


              #7
              Originally posted by EBTContractor View Post
              what's the 2017 charge?
              A typo.
              Help preserve the right to be a contractor in the UK

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