Originally posted by Genesis
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AML 2019 Loan Charge
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"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank... -
Originally posted by ozzyo99 View PostI just had a chat with webberg on the phone and I can tell you I feel somewhat better given the perspective you offered me. Thanks for the time @webberg.Comment
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I called AML today on 0845 624 0075 who were able to give me my loan amount for the 2-3 years i was on the scheme.
So thats a step forward.
Total = £125k approx for the 2-3 years.
How is the settlement worked out ?
Is it 35% of £125k ?
And is it a known fact that you can pay up the settlement over some years ?
I also discussed latest events with my misses.
I told her previously about the HMRC enquiry when they came though back in 2015.Comment
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Originally posted by DOT COM View PostI called AML today on 0845 624 0075 who were able to give me my loan amount for the 2-3 years i was on the scheme.
So thats a step forward.
Total = £125k approx for the 2-3 years.
How is the settlement worked out ?
Is it 35% of £125k ?
And is it a known fact that you can pay up the settlement over some years ?
I also discussed latest events with my misses.
I told her previously about the HMRC enquiry when they came though back in 2015.
Add them to your other income in those years.
Apply personal allowances
Tax the balance at basic (20%), higher (40%) or additional (45%) rate according to the bands.
Deduct any tax already paid.
balance is amount due.
Calculate interest for all years where there is an HMRC enquiry.
Due date of tax is usually 31st January in year following tax year end.
Payment date is [insert date here]
Interest is around 3% pa, simple, from early 2009. It varied before then.
Time to pay depends on personal circumstances.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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Originally posted by ozzyo99 View PostI just had a chat with webberg on the phone and I can tell you I feel somewhat better given the perspective you offered me. Thanks for the time @webberg.Comment
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WTT CLSO2 Settlement on open years
Originally posted by webberg View PostInterest is around 3% pa, simple, from early 2009. It varied before then.Comment
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Originally posted by luxCon View PostHas WTT or anyone else managed to agree a settlement under CLSO2? And ifnso, for open years has it been possible to negotiate no interest?Comment
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Originally posted by luxCon View PostHas WTT or anyone else managed to agree a settlement under CLSO2? And ifnso, for open years has it been possible to negotiate no interest?Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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Hi All
I'm in the same boat and I'm really concern. I used AML for only 6 months between 2011/12 before setting up a limited company after seeing so my much bad publicity on this scheme.
At the time I has started my first contract and was on a day rate of £120pd.
Today I contacted this PTS company who said that they can negotiate a settlement on my behalf to the HMRC.
I was ready to let them represent me. However after reading everyone feedback on the forum I'm glad i didn't
I would still like some guidance or a name of a recommeded tax dvisor who can talk me through this. I really want to settle and as my loans wasn't extremely high and I've some savings.
Any help will be appreciated. ThanksComment
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Originally posted by holograms View PostHi All
I'm in the same boat and I'm really concern. I used AML for only 6 months between 2011/12 before setting up a limited company after seeing so my much bad publicity on this scheme.
At the time I has started my first contract and was on a day rate of £120pd.
Today I contacted this PTS company who said that they can negotiate a settlement on my behalf to the HMRC.
I was ready to let them represent me. However after reading everyone feedback on the forum I'm glad i didn't
I would still like some guidance or a name of a recommeded tax dvisor who can talk me through this. I really want to settle and as my loans wasn't extremely high and I've some savings.
Any help will be appreciated. Thanks
If you take HMRC's settlement there is no negotiation. It's take it or leave it and no adviser gets better rates than another.
PM me if you wish.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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