21 years time to pay

[CanPayButWouldRatherNot]

a victory of sorts for phil and SummerhillLass

this is very encouraging

@SummerhillLass


https://forums.contractoruk.com/hmrc...ml#post2550777

[ChimpMaster]

That's quite a jump from 1-2 years to 30+. They've set a precedent that they should be honouring for all those who will be affected by this bogus legislation.

10 years TTP should be the absolute minimum.

To clarify, I understand 1 or 2 years TTP is not too difficult to negotiate but if you're looking for longer term then you need to prove genuine hardship. You will have to lay out your life and all your assets for HMRC to investigate.

SummerHillLass had a quite unusual situation - not of her own making - so that is why she was able to achieve a very good TTP.

I would love having 5+ years to pay. It would make this all so much more bearable.

[Delendog]

A question please.

When TTP is agreed does that fix the interest rate OR do HMRC re-calculate when a interest rate increase/reduces?

Thanks

[webberg]

A question please.

When TTP is agreed does that fix the interest rate OR do HMRC re-calculate when a interest rate increase/reduces?

Thanks

The interest charged on overdue tax is fixed in statute and is usually tied to base rate.

This is calculated at the time you agree to pay and actually pay the tax and once done, should not be adjusted.