AML 2019 Loan Charge

[catanonia]

See this thread https://forums.contractoruk.com/hmrc...your-bill.html

Can I ask how you managed to justify this please? Was it simply a case of 'I live in location A and I had to travel to location X, Y, Z during this period' or there is some proof which is required?

Can monthly train tickets be claimed or would that be seen as regular travel?

[vips]

Which figure shall I take?

I have a reply from PTS giving me 2 figures .. One around 450000 loan amount and other which says Loan amount that will be affected around 250000 .. I am confused as to whether 250000 is the total tax I need to pay or is it that amount which will be taxed? Is it a possibility that we dont have to pay tax on the whole loan amount? Total mess ..

[mr_786]

TTP for Loan Charge 2019

Has anyone spoken to HMRC Or know otherwise, about TTP (time to pay) option for 2019 Loan Charge? (Roughly tax and NI would be in the region of 125K+)

I have not registered my interest to settle and would wait for the LC.

If I am given a reasonable amount to pay then certainly, I would prefer to wait for LC.

[MLeggsy]

Caution

Has anyone spoken to HMRC Or know otherwise, about TTP (time to pay) option for 2019 Loan Charge? (Roughly tax and NI would be in the region of 125K+)

I have not registered my interest to settle and would wait for the LC.

If I am given a reasonable amount to pay then certainly, I would prefer to wait for LC.

Hi mr_786,

I would urge caution here. You should register an interest simply to give yourself every option - You don't have to use it. HMRC have been using the TTP as a carrot to settle, with no such promises it will be available on the LC?

MLeggsy

[DOT COM]

Hi,

Can anyone clarify wether National Insurance Contributions are also part of the charges to payback or is payback only tax and interest on the loan ?

[RajaStyle]

Petitions

FYI - Petition that has been started

https://petition.parliament.uk/petitions/218582

[THISISWRONG]

HMRCs can nduct on tax inquiries

I have just been made aware of this:
https://www.parliament.uk/business/c...isputes-17-19/

Everybody impacted by this should send a letter. HMRC should be going after the promoters of these scheme and not apply retrospective tax, and then using ‘mafia’ style coercion to the people impacted. The stress is too much and HMRC are exploiting the little people.

Here is the info:
HMRC is responsible for the collection and management of taxes, duties and national insurance contributions. In its code of governance for resolving tax disputes, HMRC outlines internal governance processes that are intended to ensure that it deals with all tax disputes fairly and in an even-handed manner.
The Treasury Sub-Committee will examine whether HMRC’s approach to conducting tax enquiries, resolving tax disputes and determining the amount of tax to be paid meets those standards.
The Treasury Sub-Committee invites written submissions addressing any of the following questions:
How do HMRC governance and settlement processes affect its ability to resolve tax disputes in a proportionate and fair way?
Does HMRC’s litigation and settlement strategy provide a rational and sound framework for resolving tax disputes?
Do HMRC’s collection and management powers set out in the Commissioners for Revenue and Customs Act 2005 provide HMRC with sufficient flexibility to achieve cost-effective and fair results?
Does HMRC’s approach to enforcing compliance with tax law, including its approach to penalties and other sanctions, result in disproportionate or unjust outcomes? If so, how can the situation be remedied?
Is there sufficient governance over the whole of HMRC’s enquiry process to ensure that HMRC’s interventions are well-targeted and that taxpayers are treated fairly and professionally throughout?
Do HMRC’s governance processes provide sufficient scrutiny and assurance for clearances and approvals given to taxpayers outside the formal enquiry process.

[Incandescent]

Settled already?

Hi All

What an unholy mess.

Back in Feb 2016 I had this issue raised via a letter from HMRC telling me I owed them £26k. Given that I was n the AML PBT scheme for about 8 months and only earnt about that, clearly this was a made up figure. A call to HMRC confirmed that they didn't have any real data which frankly does make it Mafia-esque - sending letters to people saying they owe you a random amount of money, pay up or else is more Cosa Nostra than HMRC.

I disclosed my earnings for the period, made a calculation on the tax that would be owed were it normal remuneration and sent them a cheque, which they duly cashed. I have returned to PAYE and whilst they initially withheld my tax rebate for 16-17 as i was 'under investigation' I pointed out that I had settled and they concurred, releasing the funds.

Yesterday I got a new letter from HMRC about Disguised Remuneration and loan charges even though I have settled.

Do you lovely people think this is just admin error? That's what I shall be telling HMRC. As far as I'm concerned I promptly co-operated and paid. Case closed?

Be grateful of any advice here. Good luck to you all.

[Sreh]

Phil please PM me as well

I can verify Phil's approach. He's helping me and has been incredibly helpful, candid and honest about all options.

Certainly give him a call if you're wanting an informal chat. That's where I started and I'm really pleased I did.

An all round good egg...

Phil Please contact me as well

[Jonmh]

I got a letter yesterday. I'm currently paying back £3,400 tax on a monthly basis over a year (i was only with AML for 4 weeks thank God). I simply rang them and after tapping my payment plan reference into the computer they told me to disregard yesterday's letter. As long as I stick to the agreement I will be exempt from the Loan Charge.