HMRC settlement Deadlines/delays and the LC

[Vincenth1]

HMRC settlement deadlines/delays & LC

Suggest you all consider joining the Loan Charge Action Group. We need as many as possible to join, including NHS workers doctors, nurses as HMRC/HMT claim that only 3% of those affected are in this group and there sensitive to this.

[Whysoserious]

S86 trust has IHT charge when the loan is written off. S72 trusts have no IHT when loans are written off.
All of my loans were under the 10 year anniversary (the oldest loan/trust being around 6 years old).

Your trustee will be able to tell you what type of trust you have.

HMRC told me the news of which trusts IHT applied to. For the sake of £5k IHT charge (when the settlement bill was significantly larger..) there seemed little point fighting it.

It's criminal though...

The IHT department in HMRC agreed the loans were genuine loans and not income. If it was income they couldn't charge IHT.

The Income Tax department in HMRC said the loans were not considered to be loans and therefore deemed to be income.

I'm sure at some point in the future this will be exposed as a national scandal. Albeit too late for everyone impacted.

[cojak]

Dear all,

I would appreciate some advice as am feeling completely desperate now, being 5 months pregnant and looks like a single mum to be .

I am a nurse and have been involved in Loan schemes since 2013 on recommendation from my nursing agency.

It was Bedouine/ Redstone initially and then Target umbrella/ Integra management took over. I have received a letter from HMRC stating I owe them over 18.5 k for 2013/2014. They estimated my earnings, hugely excessively , and calculated INCOME tax only from this, NOT National insurance contribution, plus late penalties charge and interest rates.

My questions are :

1. Michelle B from Redstone/ Target claims that I have always been dual employed , hence not subject to a Loan charge 2019- does anyone know if this could be true? Should I try to settle or wait if HMRC has a real case against me?

2. If I was to settle, will HMRC add NI to calculate owed sum? I am finding different views, I think I am classed as an employee although I was under a nursing agency but payroll wise under Taget umbrell and Integra management.- so perhaps I am a contractor? ( Integra provided loan after it took over from Bedouine/redstone). How do I know for sure which one I am and if I would have to pay also NI , and why HMRC only asked for owed Income tax not NI? this could be difference between 30-50k owed.

3. I am not rich, and owe no property, and in 3 months I will be only on maternity allowance- how can I pay all this money? Would HMRC accept small payments to start with , do you know?

5. late charges are only applied to protected years- is this a year that HMRC is asking about , and will I not have to pay late penalties and charges on other years they not asked about yet?

Thank you for all your comments, it is hugely hugely appreciated.

Bumping this question from Misha.

[regron]

Dear all,

I would appreciate some advice as am feeling completely desperate now, being 5 months pregnant and looks like a single mum to be .

I am a nurse and have been involved in Loan schemes since 2013 on recommendation from my nursing agency.

It was Bedouine/ Redstone initially and then Target umbrella/ Integra management took over. I have received a letter from HMRC stating I owe them over 18.5 k for 2013/2014. They estimated my earnings, hugely excessively , and calculated INCOME tax only from this, NOT National insurance contribution, plus late penalties charge and interest rates.

My questions are :

1. Michelle B from Redstone/ Target claims that I have always been dual employed , hence not subject to a Loan charge 2019- does anyone know if this could be true? Should I try to settle or wait if HMRC has a real case against me?

2. If I was to settle, will HMRC add NI to calculate owed sum? I am finding different views, I think I am classed as an employee although I was under a nursing agency but payroll wise under Taget umbrell and Integra management.- so perhaps I am a contractor? ( Integra provided loan after it took over from Bedouine/redstone). How do I know for sure which one I am and if I would have to pay also NI , and why HMRC only asked for owed Income tax not NI? this could be difference between 30-50k owed.

3. I am not rich, and owe no property, and in 3 months I will be only on maternity allowance- how can I pay all this money? Would HMRC accept small payments to start with , do you know?

5. late charges are only applied to protected years- is this a year that HMRC is asking about , and will I not have to pay late penalties and charges on other years they not asked about yet?

Thank you for all your comments, it is hugely hugely appreciated.

Hi MishaB,

The best advice would be to contact a reputable, professional tax advisor of which there are two who regularly post here. Both will offer their initial Advice for free, based on your individual circumstances.
I will PM you with some more information.

Admin, please can MishaB be granted PM rights ?

[JackH1]

thank you !

And no wont confuse the two. Tax advice in hand. Debt advice seeking

Hello, sorry to hear about your circumstances! I used Target/Integra too and have been advised by a competent tax advisor the revenue will be looking to tax the loans as they are subject to the charge.

One suggestion, is to give in the figures by the end of this month. When HMRC make contact make clear to them your circumstances and you'll only be able to pay when you return to work. Your maternity pay only covers the costs required to fulfil the pregnancy. You say its 18.5k it's a sum of money that can take a chunk of 5 years to pay back but it's not a massive amount(other users require 100k to pay back) so they can wait.

If they act aggressive consider going to the press, I know a few writers that can publish your story of national newspapers and you could do this anonymously.

Plus, I recommend joining LCAG for support. There are other ex users of this scheme on there including myself.

Regards, Jack

[JackH1]

Dear all,

I would appreciate some advice as am feeling completely desperate now, being 5 months pregnant and looks like a single mum to be .

I am a nurse and have been involved in Loan schemes since 2013 on recommendation from my nursing agency.

It was Bedouine/ Redstone initially and then Target umbrella/ Integra management took over. I have received a letter from HMRC stating I owe them over 18.5 k for 2013/2014. They estimated my earnings, hugely excessively , and calculated INCOME tax only from this, NOT National insurance contribution, plus late penalties charge and interest rates.

My questions are :

1. Michelle B from Redstone/ Target claims that I have always been dual employed , hence not subject to a Loan charge 2019- does anyone know if this could be true? Should I try to settle or wait if HMRC has a real case against me?

2. If I was to settle, will HMRC add NI to calculate owed sum? I am finding different views, I think I am classed as an employee although I was under a nursing agency but payroll wise under Taget umbrell and Integra management.- so perhaps I am a contractor? ( Integra provided loan after it took over from Bedouine/redstone). How do I know for sure which one I am and if I would have to pay also NI , and why HMRC only asked for owed Income tax not NI? this could be difference between 30-50k owed.

3. I am not rich, and owe no property, and in 3 months I will be only on maternity allowance- how can I pay all this money? Would HMRC accept small payments to start with , do you know?

5. late charges are only applied to protected years- is this a year that HMRC is asking about , and will I not have to pay late penalties and charges on other years they not asked about yet?

Thank you for all your comments, it is hugely hugely appreciated.

Hello, sorry to hear about your circumstances! I used Target/Integra too and have been advised by a competent tax advisor the revenue will be looking to tax the loans as they are subject to the charge.

One suggestion, is to give in the figures by the end of this month. When HMRC make contact make clear to them your circumstances and you'll only be able to pay when you return to work. Your maternity pay only covers the costs required to fulfil the pregnancy. You say its 18.5k it's a sum of money that can take a chunk of 5 years to pay back but it's not a massive amount(other users require 100k to pay back) so they can wait.

If they act aggressive consider going to the press, I know a few writers that can publish your story of national newspapers and you could do this anonymously.

Plus, I recommend joining LCAG for support. There are other ex users of this scheme on there including myself.

Regards, Jack
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[JackH1]

Hello, sorry to hear about your circumstances! I used Target/Integra too and have been advised by a competent tax advisor the revenue will be looking to tax the loans as they are subject to the charge.

One suggestion, is to give in the figures by the end of this month. When HMRC make contact make clear to them your circumstances and you'll only be able to pay when you return to work. Your maternity pay only covers the costs required to fulfil the pregnancy. You say its 18.5k it's a sum of money that can take a chunk of 5 years to pay back but it's not a massive amount(other users require 100k to pay back) so they can wait.

If they act aggressive consider going to the press, I know a few writers that can publish your story of national newspapers and you could do this anonymously.

Plus, I recommend joining LCAG for support. There are other ex users of this scheme on there including myself.

Regards, Jack
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Target provided a dwarfed figure of my earnings- around 20k more than what I was on so if that's the case the tax will be alot lower than the 18.5k.

[LCAG]

Dear all,

I would appreciate some advice as am feeling completely desperate now, being 5 months pregnant and looks like a single mum to be .

I am a nurse and have been involved in Loan schemes since 2013 on recommendation from my nursing agency.

It was Bedouine/ Redstone initially and then Target umbrella/ Integra management took over. I have received a letter from HMRC stating I owe them over 18.5 k for 2013/2014. They estimated my earnings, hugely excessively , and calculated INCOME tax only from this, NOT National insurance contribution, plus late penalties charge and interest rates.

My questions are :

1. Michelle B from Redstone/ Target claims that I have always been dual employed , hence not subject to a Loan charge 2019- does anyone know if this could be true? Should I try to settle or wait if HMRC has a real case against me?

2. If I was to settle, will HMRC add NI to calculate owed sum? I am finding different views, I think I am classed as an employee although I was under a nursing agency but payroll wise under Taget umbrell and Integra management.- so perhaps I am a contractor? ( Integra provided loan after it took over from Bedouine/redstone). How do I know for sure which one I am and if I would have to pay also NI , and why HMRC only asked for owed Income tax not NI? this could be difference between 30-50k owed.

3. I am not rich, and owe no property, and in 3 months I will be only on maternity allowance- how can I pay all this money? Would HMRC accept small payments to start with , do you know?

5. late charges are only applied to protected years- is this a year that HMRC is asking about , and will I not have to pay late penalties and charges on other years they not asked about yet?

Thank you for all your comments, it is hugely hugely appreciated.

MishaB,

Sorry to hear of the issues above.
We can assist you.
Please drop us an email: contact@HMRCloancharge.info

[administrator]

Admin, please can MishaB be granted PM rights ?

Sorted

[MishaB]

Hello, sorry to hear about your circumstances! I used Target/Integra too and have been advised by a competent tax advisor the revenue will be looking to tax the loans as they are subject to the charge.

One suggestion, is to give in the figures by the end of this month. When HMRC make contact make clear to them your circumstances and you'll only be able to pay when you return to work. Your maternity pay only covers the costs required to fulfil the pregnancy. You say its 18.5k it's a sum of money that can take a chunk of 5 years to pay back but it's not a massive amount(other users require 100k to pay back) so they can wait.

If they act aggressive consider going to the press, I know a few writers that can publish your story of national newspapers and you could do this anonymously.

Plus, I recommend joining LCAG for support. There are other ex users of this scheme on there including myself.



Regards, Jack
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Dear Jack,

Thank you for replying to me, it is very useful. I guess it confirmed my concerns of being a subject to Loan charge despite Targer claiming otherwise.

Unfortunately 18 k was only for one year not for all the 5 years I was involved with Target.

And yes, hugely overestimated amount, same as in your case.

That's why I wondered, will I only have to only pay Income tax as HMRC asked for in the letter or will they also add NI , which will be another huge amount?

If Income tax only, I will owe around 30 k, otherwise 50k plus. And I am not sure how in that case HMRC will accept my offer of small payments only due to maternity. It is really worrying me.

And do you know what I have to provide to HMRC? SUm up of all loans for every year ? Anything else?

I have tried to contact Phill several times but phone did not seem to be accepting calls, I will try again. WTT said that it looks like I cannot settle hence I can either declare Bankruptcy or join Big group. I would like to pay but realistically, it would take me many more years than 5.


Thank you for further advice.

Misha