AML 2019 Loan Charge

[MLeggsy]

Registering an Interest to Settle

Hi, Is there a template for registering, there is only an enquirey into one year even though the planning has been carried out over numerous years, do I have to quote the years or just the UTR and that wish to register interest in settleing

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.

[ProjectMan]

Vanquish options

PTS Limited are based in the Isle Of Man (no website and the domain owner is hidden)

Vanquish Options have a website, which was registered on 27/03/18 by a design company... based in the Isle of Man.

Vanquish are offering another so they say 'secret' scheme. Another dodgy tax scheme that is digging a deeper hole. Stay away from it and get some tax advice.

[INeedHelp]

Template for registering interest

Hi, Is there a template for registering, there is only an enquirey into one year even though the planning has been carried out over numerous years, do I have to quote the years or just the UTR and that wish to register interest in settleing

Runster, Yes!

I received my first enquiry from HMRC for my dealings with AML in 2014 and have been dealing with the fallout since, some people have been dealing with it for way longer. There are so many questions to ask and I can honestly say the advisors I have spoken to have been incredibly helpful, just assisting in getting your head around what is going on.

Once you have your figures from AML, register an interest to settle with HMRC (This MUST be submitted by 31st May 2018). HMRC will take a few months to respond with what they believe you owe. At that point you will have something to work with... you are registering an "interest" to settle, you are not "agreeing" to the figures or to settle.

This will give you some breathing space to read up on this mess (yes it is a mess) and become more informed.

MLeggsy

[MayMadness]

Anyone seeking additional support or wishing to help, please take a look at the Loan Charge Action Group.

They have templates for contacting MP's and you will be in an additional online community for support. Every bit of action on an individual and group scale is going to help show those in charge that this situation needs addressing.

We gain nothing by remaining silent.

https://www.hmrcloancharge.info/who-we-are

[GUD]

I'm looking at taking this campaign to the next level and start writing to the newspapers to raise awareness. Starting with the Evening Standard then will look at alternatives like the Metro and daily Mirror.

The full epidemic of this and the effect of this can send shockwaves and the likes of politicians will have to stand up and act. It hasn't been highlighted by parliament that in fact it's the middle/working classes effected by this and indeed has made people vulnerable.

If it all possible, I could do with a few people to come forward if we get an interview request including the guy who has to cater for his disabled wife. We can go anon or give our real names it upto you. I need good facts. There's another column that says 200,000 people have registered for CLSO 2 weeks before the deadline so we could be looking at far more. You can email me at Rortano103@hotmail.com

I have ready to support you. Have sent you an email.

[ConfusedEasily]

Thanks for clarification.

WRT LC2019, What I have been told is:

If you don't settle and loan charge kicks in, then HMRC will open enquiries for all the years in which you have declared the loans.

Then they will take a long time to get back to you for your liability , but meantime, their tax meter will carry on charging interest for the opened up protected years ...

Is that right?

...you may want to throw fines in with that as well.

[mr_786]

...
Interest is only payable on Protected years where you have an Open Enquiry or HMRC are not out of time to open one.

Thanks for clarification.

WRT LC2019, What I have been told is:

If you don't settle and loan charge kicks in, then HMRC will open enquiries for all the years in which you have declared the loans.

Then they will take a long time to get back to you for your liability , but meantime, their tax meter will carry on charging interest for the opened up protected years ...

Is that right?

[MayMadness]

I have a friend who is a teacher and concerned that she was involved in this. I think she is OK but it is my understanding that this really extends across many employment sectors.

It would be ideal to contact

Teaching Unions
Perhaps any Union? Might want to concentrate on the Health Industry first
Construction
Freelance forum sites
Mums net
Councils

Let them know this is going back to 1999. If they are impacted, or anyone on here that doesn't already know. You could direct them to the Loan Charge Action Group website who is working on this.


If you have any free time or know anyone who could help raise awareness...then please spread the word. All we can do is try and that is dependent on all of us working together in anyway that can contribute.

[ChimpMaster]

My colleague's accountant mentioned tht HMRC are charging Employer's NIC as part of settlement on top of Tax, Employee's NIC and Interests. He has received a few settlement figures recently and therefore advised us to hold on from settlement...

Has anyone yet received settlement figures from HMRC and can you confirm it please?

Do we also need to consider employer's NIC if we go via Loan Charge 2019?

Everyday something new is getting exposed ....God help us ..

Payment of NICs depends on the type of scheme. Typically if you were an employed contractor then you shouldn't be paying NICs. No doubt HMRC will try to make you pay NICs, after all they have no duty of care except to squeeze as much £ out of you as they can. But they will need to follow the guidance that they themselves provided.

Interest is only payable on Protected years where you have an Open Enquiry or HMRC are not out of time to open one.

[cojak]

Has anyone sought legal advice to bring a judicial review to court to get this legislation halted or amended to 2017 onwards? Litigants can do this.

Yes, in 2010 - see this post: https://forums.contractoruk.com/hmrc...ml#post2553597