AML 2019 Loan Charge

[IrishStevie]

I was with AML PCC for around 6 months in 2015, I have received emails from AML in the past, the last time was in 2017 when they informed me they were asking for closure notices. I’ve received nothing about the 2019 loan charge as yet, has anyone else on the PCC scheme received anything?

[catanonia]

Hi there Catalonia,

That would be at £400 5 days a week for 78 weeks ? The details in your answer will help me roughly gauge what’s in store for myself reg settlement etc

Yes about that. They initially wanted 38k but I managed to get mileage allowance taken from it.

[catanonia]

Well my notice of payment came through today. £33,000 for 18 months @ AML after I settled with HMRC

The end is in sight and I have until mid May to pay.

[falling apart]

I've been taking stock of how I expect to pay the 70/80k above my head.

I'm hoping to put £30-50k on my mortgage and withdraw some equity. The rest 30k slush and whatever I can save by tightening my belt, to the absolute penny. I live an already simple life, but I've made it my mission to save another 5-10k before Q1 when my payments will likely start.

Anything on top of that from leftfield I hope I can pay over a reasonable term of 36 months.

I'll be selecting someone, probably WTT, to file my papers and keep the wolves at the door.

-----------------------

Over the last 2 days I've honestly had so many thoughts, madness, grief, sadness, mourning, confusion, pity, questioning... my mind did begin to wonder in to dark area's and what i expect was the beginnings of some form of depression, but through talking to my wife [she's aware and complicit, has been since 2011], telling my parents [i'm 35 for the record] and also telling my 5/6 close lifelong friends I feel much better, more rationale and whilst not happy, I know I can pull through this with my family intact and with a nagging fear of "what's that letter" that I've had for the last 5 years biting me.

I suspect that once I've agreed settlement and began on the road to make things right I shall feel a sense of relief.

Despite my sorry state this week, I still have no regrets of using such a mechanism despite being outlawed years later. It allowed me to save for a house deposit in a way that would have been frankly impossible at the time, anybody mortgaging as a contractor will know just how hard it can be. It gave me a step up... now my job is to remain on that step, and not to slip back too far.

I really appreciate this forum though and those sharing accounts, perspective is utterly important... whoever you are reading this, you're not alone and I will talk to you if you feel yourself having thoughts you can't identify with - I'm in no way a professional, I have nothing for sale, just words.

you've just 100% described exactly where I am at and how I feel as well - thank you - right down to freaking out anytime I have to check the post box for the past couple of years. I said in an earlier post I'm glad I'm not the only one and you've just further validated that - I appreciate it!!

Can you please tell me what you're doing now in terms of getting paid i.e. umbrella, Ltd Company - or do I recall you mentioned you're now permanent staff somewhere..?

Let's hope we all get through this one way or another

[DOT COM]

To negotiate your discount for travel did you have to offer evidence of your millage i.e receipts, MOT with millage or contract location etc ?
Did you try to negotiate over a longer payment term i.e24 -36 months and was it refused ?

Yes about that. They initially wanted 38k but I managed to get mileage allowance taken from it.

[ColTigh]

Well my notice of payment came through today. £33,000 for 18 months @ AML after I settled with HMRC

The end is in sight and I have until mid May to pay.

Sorry, maybe I have misunderstood, but you have until mid May 2019 to pay?

From what I have read and thought to understand correctly through this and other forums, is that following registering to settle by end of May 2018, HMRC will start collecting the payment (through PAYE and other mechanisms) from April 2019 to end March 2020....unless one can negotiate a longer settlement term.

So, why mid-May?

If there’s something I’ve misunderstood here, I would appreciate some clarity.

Thanks.

[phil@pmtc]

Sorry, maybe I have misunderstood, but you have until mid May 2019 to pay?

From what I have read and thought to understand correctly through this and other forums, is that following registering to settle by end of May 2018, HMRC will start collecting the payment (through PAYE and other mechanisms) from April 2019 to end March 2020....unless one can negotiate a longer settlement term.

So, why mid-May?

If there’s something I’ve misunderstood here, I would appreciate some clarity.

Thanks.

Once you ask for settlement deeds HMRC state they are valid for 30 days.
For now, if anyone prefers they can simply register to settle (by end of May) and there’s no obligation to do anything more for time being. It’s simply HMRC trying to apply pressure to get money in the bank.

[ColTigh]

Once you ask for settlement deeds HMRC state they are valid for 30 days.
For now, if anyone prefers they can simply register to settle (by end of May) and there’s no obligation to do anything more for time being. It’s simply HMRC trying to apply pressure to get money in the bank.

Ok. Thanks. Nice to see HMRC are as draconian as ever!

[catanonia]

To negotiate your discount for travel did you have to offer evidence of your millage i.e receipts, MOT with millage or contract location etc ?
Did you try to negotiate over a longer payment term i.e24 -36 months and was it refused ?

Mine was easy, work was based in Blackpool and I live 140 miles round trip.
No proof of receipts, just where I lived and worked and then worked out the mileage expenses that I never claimed for as AML told me I could not at the time.

[catanonia]

Sorry, maybe I have misunderstood, but you have until mid May 2019 to pay?

From what I have read and thought to understand correctly through this and other forums, is that following registering to settle by end of May 2018, HMRC will start collecting the payment (through PAYE and other mechanisms) from April 2019 to end March 2020....unless one can negotiate a longer settlement term.

So, why mid-May?

If there’s something I’ve misunderstood here, I would appreciate some clarity.

Thanks.

No May 18. I have agreed to settle and told them I will pay in full. I didn't need to negotiate a payment plan as I am lucky and knew this was coming and stashed the money away for this day.