Originally posted by Invisiblehand
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Loan - self assessment
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Originally posted by MyxALot View PostHe/she may have been meaning that but it's definitely not what they said and was misleading, either deliberately or unintentionally.
Look at thread "Loans from EBTs and other Trusts" #829
https://forums.contractoruk.com/acco...ml#post2482615
Quoting webberg :
"We have always been open and transparent about what we charge.
The settlement fee is for those who joined us after 31st July 2016 only. If you joined before then, you continue at £18 a month until we settle or you choose to leave.
The settlement fee is payable in instalments spread until April 2019.
We have always told those joining us that we offer no guarantees of settlement - how could we when HMRC are in such chaos?"
Add to Settlement Fee BG will charge him separately for individual advice.
He be better off saving money and settle 21k direct with HMRC as part of the current settlement offer or add it to his 2019 Self assessment.
There is an unhealthy obsession by a few posters to direct people to BG without understanding BG does not stand for Big Group Action .Comment
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Originally posted by luxCon View PostHere it is;
Look at thread "Loans from EBTs and other Trusts" #829
https://forums.contractoruk.com/acco...ml#post2482615
Quoting webberg :
"We have always been open and transparent about what we charge.
The settlement fee is for those who joined us after 31st July 2016 only. If you joined before then, you continue at £18 a month until we settle or you choose to leave.
The settlement fee is payable in instalments spread until April 2019.
We have always told those joining us that we offer no guarantees of settlement - how could we when HMRC are in such chaos?"
Add to Settlement Fee BG will charge him separately for individual advice.
He be better off saving money and settle 21k direct with HMRC as part of the current settlement offer or add it to his 2019 Self assessment.
There is an unhealthy obsession by a few posters to direct people to BG without understanding BG does not stand for Big Group Action .Comment
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Originally posted by luxCon View PostHere it is;
Look at thread "Loans from EBTs and other Trusts" #829
https://forums.contractoruk.com/acco...ml#post2482615
Quoting webberg :
"We have always been open and transparent about what we charge.
The settlement fee is for those who joined us after 31st July 2016 only. If you joined before then, you continue at £18 a month until we settle or you choose to leave.
The settlement fee is payable in instalments spread until April 2019.
We have always told those joining us that we offer no guarantees of settlement - how could we when HMRC are in such chaos?"
Add to Settlement Fee BG will charge him separately for individual advice.
He be better off saving money and settle 21k direct with HMRC as part of the current settlement offer or add it to his 2019 Self assessment.
There is an unhealthy obsession by a few posters to direct people to BG without understanding BG does not stand for Big Group Action .
No one's directing the OP towards using BG to settle, so wind your neck in.Comment
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Originally posted by MyxALot View PostAnd where in that quote does it refer to a percentage, let alone a 'generous percentage'?
No one's directing the OP towards using BG to settle, so wind your neck in.
https://forums.contractoruk.com/hmrc...ml#post2410324
Quote
"We are considering whether later joiners should be paying more than earlier in order to prevent free loading. Presently, those who joined Big Group before the end of July 2016 pay nothing other than the monthly fees of £18.
Those who joined after that and who took up the first iteration are liable for an additional £1,500 plus VAT fee which is payable in three equal instalments in April 2017, 2018 and 2019."
1500 + 300 vat /21000 = 8.6%Comment
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Originally posted by luxCon View PostThread: BIG GROUP #845
https://forums.contractoruk.com/hmrc...ml#post2410324
Quote
"We are considering whether later joiners should be paying more than earlier in order to prevent free loading. Presently, those who joined Big Group before the end of July 2016 pay nothing other than the monthly fees of £18.
Those who joined after that and who took up the first iteration are liable for an additional £1,500 plus VAT fee which is payable in three equal instalments in April 2017, 2018 and 2019."
1500 + 300 vat /21000 = 8.6%
And what if BG settlement results in a settlement figure that represents a saving even with the fee included?Comment
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MyxALot
Originally posted by MyxALot View PostOk, so 'generous percentage' is your subjective take on the FIXED figure that it will cost if you want to use them to settle in this particular case.
This thread is not about your ego. Its about trying to help people who need it. If you have something to add on-topic please do, but no point trying to pumpup your ego to me, I really dont careComment
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Originally posted by luxCon View PostMyxALot, Just let it go.
This thread is not about your ego. Its about trying to help people who need it. If you have something to add on-topic please do, but no point trying to pumpup your ego to me, I really dont careComment
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Loans
Originally posted by Invisiblehand View PostI think what he meant to say was that the fee to settle (fixed) may not be worth while given the amount of loans.
Dynamo: do you guys help people with enquiries like this as part of your monthly fee?
In summary, yes we could look at it and potentially assist. If there's a lot of work involved however we'd be able to provide a fixed fee quote before doing anything. With these cases, best to look at on an individual basis as everyone's circumstances can be quite different.Comment
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Originally posted by Socialsarah View PostStupidly I signed up to umbrella company who offered loan as part payment when I temporarily became a contractor for 5 month before moving to paye. I have to complete my self assessment due to property and plan to ensure this additional income is entered in other payments not on p60 to ensure any tax due is paid.
Anything else I should be doing? Should I be phoning HMRC or just put everything down on the self assessment and pay tax due. Thanks in advance as have been sick with worry
That would be the cleanest way to wrap this up.
Otherwise, as others have said here, a £21k loan is tiny compared to what others are suffering here (I've heard figures up to £500k) so you would be best just paying the PAYE somehow. Ask a knowledgeable accounts or failing that speak with HMRC - I'm sure they'd be willing to help if you're looking to make a payment.Comment
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