HMRC settlement Deadlines/delays and the LC

[Iter]

You’ve already started engagement so should be ok if they haven’t responded?. They would rather you settle....

[sst2019]

Posted this in the other thread but interesting nonetheless.

MPs demand HMRC leadership change over loan charge

MPs have accused HMRC and the Treasury of waging a “cynical campaign of misinformation” to justify their policy about the loan charge and cover up HMRC’s past failings and current hardline conduct

MPs demand HMRC leadership change over loan charge | ICAEW Economia

[confusionroolz]

Radio Silence

Hi newbie here.

I submitted my details last September advising the figures to HMRC and radio silence since then! anyone else in the same boat?

[Sargey]

Hi newbie here.

I submitted my details last September advising the figures to HMRC and radio silence since then! anyone else in the same boat?

I submitted mine in March this year and had settlement pack through by 2nd May..

[Boodog]

I submitted mine in March this year and had settlement pack through by 2nd May..

Does the settlement pack come by post or email?

[Sargey]

Does the settlement pack come by post or email?

By post

[matteire]

DOR engagement?

Got a letter from DOR resolutions ltd about buying / them releasing the deeds to my Infinity loan for 5% on the full loan amount! Has anyone had dealings with DOR? should we not just receive the deed to the loan? Much appreciate your thoughts..

[serrz]

In my settlements pack, HMRC have included an inheritance tax payable (section 72(2)(c)). What does this relate to, and is there any way this tax can be mitigated?

[Cath799]

Frustration

A little background.

I met the deadline last year and finally received my settlement pack in March. I queried the figures. It was fairly trivial but I felt that it was unfair to pay high rate tax when my total income that year was under the personal allowance. I was advised not to sign anything and wait for the modified figures.

I got a new letter saying it was my 'final chance to settle' yesterday. I had received no other letters since my query in March. With interest the new figure is larger than the original settlement and I also have a settlement schedule is terms that I am just unable to do. I find these letters very aggressive and threatening when the politicians are saying they are handling the loan charge 'sympathetically'.

I guess I am wondering whether there are others who are in this situation? I did call HMRC but it appears no one can actually discuss what terms are possible so I have sent an email into the abyss.
Is there anything to be done so I can know what the future looks like?

[Albert49]

A little background.

I met the deadline last year and finally received my settlement pack in March. I queried the figures. It was fairly trivial but I felt that it was unfair to pay high rate tax when my total income that year was under the personal allowance. I was advised not to sign anything and wait for the modified figures.

I got a new letter saying it was my 'final chance to settle' yesterday. I had received no other letters since my query in March. With interest the new figure is larger than the original settlement and I also have a settlement schedule is terms that I am just unable to do. I find these letters very aggressive and threatening when the politicians are saying they are handling the loan charge 'sympathetically'.

I guess I am wondering whether there are others who are in this situation? I did call HMRC but it appears no one can actually discuss what terms are possible so I have sent an email into the abyss.
Is there anything to be done so I can know what the future looks like?

Have you checked the calculation, or has someone checked it for you?
I am unclear what you mean by "I felt it was unfair to pay a high rate of tax when my total income for the year was under the personal allowance" Are you including the loan amounts for the year in your total income ? If you are then you should pay no tax for the year, if not, then as far as HMRC are concerned you should include it in your total taxable income for the year.