HMRC settlement Deadlines/delays and the LC

[webberg]

This may sound like a silly question and I apologise for my ignorance if it is. But if for example you didn’t have a house in your name and hardly any savings and were working now for a big company and being paid PAYE. How would HMRC recoup money from you? Would the loan charge be applied to your salary from April 2019 ie would they just take it from source whereby you would be working but receiving zero salary? Or could you register interest to settle, receive the settlement amount from HMRC (the statement saying how much you owe) and then declare bankruptcy and then continue to work?

You are discussing a sequestration order whereby HMRC can instruct an employer to make a deduction of amounts due.

These can be used but are rare.

I think there are limits about how much can be taken and/or how much you are left with.

Otherwise you need to speak to an insolvency specialist.

[webberg]

Very unsure on how to move forward with the deadline.
I have completed a settlement for tax year 10/11
Had an demand for 11/12 that I appealed and heard nothing for best part of 2 years
No inquiry for 12/13 that i'm aware of.
and paid an APN for 13/14.

If i register with HMRC will that be in light of settlement for 11/12 & 12/13

Really not got an understanding, also received a mail from THL, stating that I can buy the deeds to the loans but don't understand how this would work. I certainly don't have anywhere near the sort of money to repay the original loans.

thanks

When you register, you include all years. When you get the numbers, you can choose to exclude closed years as these will be caught by the loan charge in 2019.

The THL letter has had an airing elsewhere in these threads.

In short, there is no evidence that you need the deed of release in order to settle with HMRC. This would be a question to ask HMRC in due course.

[Jim99]

Payment of APN

Thanks to all of the contributors, this forum is a great source of information.

I registered my interest to settle earlier this week, both on the phone and via email (such is my low level of trust of the HMRC) and despite me saying I wanted to request the settlement amount and calculations they were very persistent wanting me to set up an agreed monthly repayments of the APN amount. Is there any advantage for me to start paying anything back before the settlement amount is provided ? or should I just tell I am not paying a thing until I see the settlement amount?

[webberg]

Thanks to all of the contributors, this forum is a great source of information.

I registered my interest to settle earlier this week, both on the phone and via email (such is my low level of trust of the HMRC) and despite me saying I wanted to request the settlement amount and calculations they were very persistent wanting me to set up an agreed monthly repayments of the APN amount. Is there any advantage for me to start paying anything back before the settlement amount is provided ? or should I just tell I am not paying a thing until I see the settlement amount?

Settlement and APN are separate matters.

APN amounts due will usually not be suspended if you apply for settlement. So I think that unless you agree some form of payment plan for the APN, you run the risk of collection action.

Once you have agreed (if you agree) a settlement value, this should take into account the APNs paid wholly or partly. The balance outstanding can be subject to a time to pay period as part of the settlement.

The tricky question is whether an APN instalment plan that is overtaken by a settlement process and a time to pay, can be abandoned without collection action from DMB.

I don't know the answer to that and I suspect HMRC/DMB don't either.

Perhaps the only certainty there is that you/your adviser will have to spend time stitching the parts of HMRC/DMB together.

[spuddytat35]

help please

Hi , i feel suicidal on this...seriously...can anyone give me any advice on who to speak to regarding fighting this or understanding what i owe?

[me206et]

Hi , i feel suicidal on this...seriously...can anyone give me any advice on who to speak to regarding fighting this or understanding what i owe?

Talk to Phil or webberg.
Both will talk for free.
Plenty of details here to find them with Google.

[regron]

Hi , i feel suicidal on this...seriously...can anyone give me any advice on who to speak to regarding fighting this or understanding what i owe?

Please read this and speak to someone. Your are NOT alone in all this

https://www.hmrcloancharge.info/supp...by-helen-stone

[phil@pmtc]

Talk to Phil or webberg.
Both will talk for free.
Plenty of details here to find them with Google.

ill try to send you my number now. Call me tomorrow and I'll do what I can to help.
you really are not alone and so keep talking to people in here also. You can always feel free to call me even if its just to have a shared rant about the Loan Charge!

[phil@pmtc]

Not allowing me to send you a pm. Google may be the best approach!

[Somsta]

Edge settlement

There's a lot of understandable worry and panic as deadline number 1 approaches. So I'm posting this to calm fears on the same queries I keep hearing

These are 100% correct. HMRC will tell you themselves and i've got it in writing from them also.


1.You only need to register interest by 31 May. No loan details are required to be given.

2.Loan details to be provided by end Sep deadline.

Now, if those 2 things are done, then your obligations are 100% complete at that stage,

The loan charge will NOT kick in due to HMRC delays. As long as you/your advisor meets the deadlines you are 100% ok to settle.
When you receive the settlement deeds, there will be a deadline on them to sign. As long as that deadline is met, you are fine. You will settle and not be affected by the LC.

Also, whilst on the subject, if you're unaware, they have confirmed that the loan charge isn't final and they could come back for more, such as interest. (which realistically means they 100% will come back)

Finally - and I hope the mods don't mind me posting this part but its purely to help. All clients of mine will receive an email at least 24 hours before the deadline at end of this month confirming they are definitely registered with HMRC.

Hi there, quite new to this forum. But I’m wondering if anyone knows of a good accountant or even solicitor who can take care of this settlement paperwork for us? Really appreciate any comments at this stage. I’m too scared to fill in anything in case I get it wrong!