AML 2019 Loan Charge

[MLeggsy]

Can you please (if possible) share below with us since you have actually received the settlement figures?

1- Did the settlement figure include employer's NI ?
2- Was interest charged on years where you didn't have any enquiry with HMRC?
3- Was the loan amount on which they charged tax, gross Or net (i.e the amount you received in your account)?

Sure mr_786,

1 - Employer's No! Employees Yes! I was in a self employed scheme.
2 - Interest is only charged on OPEN years, But the settlement figures does NOT include this value - It will be ADDED once you agree to settle.
3 - The loan amounts were what I received into my bank account (Therefore not including the promoters fees etc).

Hope this helps.

MLeggsy

[mr_786]

Hi Newbee0418,

Yes. I had an email reply within 24 hours and my settlement figures in the post after around 8 weeks!

MLeggsy

Can you please (if possible) share below with us since you have actually received the settlement figures?

1- Did the settlement figure include employer's NI ?
2- Was interest charged on years where you didn't have any enquiry with HMRC?
3- Was the loan amount on which they charged tax, gross Or net (i.e the amount you received in your account)?

[MLeggsy]

Hi,

Did this work ok for you as I need to register ASAP.

Thanks

Hi Newbee0418,

Yes. I had an email reply within 24 hours and my settlement figures in the post after around 8 weeks!

MLeggsy

[kentishlad]

Hi,

Did this work ok for you as I need to register ASAP.

Thanks

Worked for me.. I got an email back pretty much straight away.
My 12 year relationship has ended due to this fiasco and am no longer in any permanent residence... god knows where they will send my details!!

[Newbee0418]

Hello INeedHelp,

For the 31/05/2018 deadline.

Send an email to cl.resolution@hmrc.gsi.gov.uk

with the text: I wish to register an interest to settle.

and your National Insurance Number (Nino)

and your Unique Tax Payer Reference (UTR)


You should get a generic response from HMRC within 1 working day to acknowledge receipt.

Details of the Years/Schemes used/loans themselves can be supplied at any time before 30/09/2018 - 4 months time.

Hope this helps.

MLeggsy.

Hi,

Did this work ok for you as I need to register ASAP.

Thanks

[CockneyRed]

I have worked out (98% accuracy) that I will be slightly better off in Loan Charge 2019.

Should I still register for settlement and disclose all of my loan to HMRC?

I was just thinking that there is still a chance (slim though) that the Loan Charge does not get applied retrospectively as many MPs have signed the EDM too...

https://www.parliament.uk/edm/2017-19/1239

Don't bank on it - If you take a look at other EDM's - This might not hold enough water to get to a parliamentary debate... One such EDM is congratulating Hemel Hempstead football club for making play off finals for the national south league!! they didn't even win! BAN ON THE SALE AND USE OF SHOCK COLLARS FOR DOGS... Has over 50 signatures, I haven't seen or heard of this breaking front pages....
Another on Motherwell Football Club .... successfully reaching a second domestic cup final!!! FFS Who bl00dy cares about that?
Do these MP's having nothing to do all day?

[Worried 72]

Did you receive the figures for months after April 2016?
When I got mine they only covered up to April 2016 and then they suggested to contact PTS to get the loan figures for months after April 2016..

I stopped using the scheme in March 2016.

[mr_786]

I sent something similar to Knox House Trust and within 5 mins had an email back saying they'd get onto this straight away and sure enough 10 mins later they sent me a week by week breakdown of the loans i received...

Did you receive the figures for months after April 2016?
When I got mine they only covered up to April 2016 and then they suggested to contact PTS to get the loan figures for months after April 2016..

[Worried 72]

Please delete if not allowed, but mine was something like this (albeit I havent had all the information I requested). Even email will start of the access request process. The fee is generally no more than 20 quid but some places will provide the information free of charge

Dear Sir or Madam
Subject access request
XXXXX
Please supply the information about me I am entitled to under the Data Protection Act 1998 relating to: our dealings with regards to a Financial Package provided by you Company (A) and you the requestor (B)
• your personnel file;
• All emails between ‘A’ and ‘B’ (between xxx and xxx);
• copies of statements and payment made to A and B (between xxx & xxx)
• Any scheme number(s) reference(s) submitted to HMRC in relation to the above individual
• Any contracts entered into/signed between ‘A’ and ‘B’

If you need any more information from me, or a fee, please let me know as soon as possible.
It may be helpful for you to know that a request for information under the Data Protection Act 1998 should be responded to within 40 days.
If you do not normally deal with these requests, please pass this letter to your Data Protection Officer. If you need advice on dealing with this request, the Information Commissioner’s Office can assist you and can be contacted on 0303 123 1113 or at ico.org.uk
Yours faithfully

I sent something similar to Knox House Trust and within 5 mins had an email back saying they'd get onto this straight away and sure enough 10 mins later they sent me a week by week breakdown of the loans i received...

[ric_77]

much appreciated @kentishlad