HMRC settlement Deadlines/delays and the LC

[lowpaidworker]

Hi I posted on another thread but no joy.

The simple question is I am being told by a former employer that the loans they made to me were direct from them and as such are not captured by the 2019 LC. Only 3rd party or trustee loans are caught by this.

Does anyone know if this is true ?.

Am no longer in these schemes and haven't been for a good many years but want to know if I need to engage HMRC to settle before April 2019. I think the deadline is October this year right ?

Many thanks

[me206et]

Hi I posted on another thread but no joy.

The simple question is I am being told by a former employer that the loans they made to me were direct from them and as such are not captured by the 2019 LC. Only 3rd party or trustee loans are caught by this.

Does anyone know if this is true ?.

Am no longer in these schemes and haven't been for a good many years but want to know if I need to engage HMRC to settle before April 2019. I think the deadline is October this year right ?

Many thanks

Talk to Phil at dws.
Google will find him.
Hi also posts a lot on here if you have private messages.

[Sewin]

Hi guys,
new to the forum, and someone who has just received the dreaded letter (yesterday)

My story is that I contracted from around 2001 to 2012ish. I have been a permanent employee since.

I believe I may have been part of a loan scheme around 2010 to 2011.
I don't have any records really, as I thought I was way past the requirement to keep them.

Also, I'm not aware that HMRC ever indicated my tax affairs were being investigated.
I have tried contacting the loan line but to no avail. I have sent a them a general email asking them to be specific about what this refers to, but got the standard response.

So I guess, my most pressing questions are:
Should they be investigating 2010/2011 if it's not under investigation
How can I confirm if this period is under discovery/investigation
Was I incorrect believing that I was beyond the retention period for documentation
If they ask me for the details of the loan, how do I figure that out

With hindsight, some of the above seems moronic, but I thought I was well clear of this stuff after 7 years and not a peep.

thanks in advance.

[JackH1]

Hi guys,
new to the forum, and someone who has just received the dreaded letter (yesterday)

My story is that I contracted from around 2001 to 2012ish. I have been a permanent employee since.

I believe I may have been part of a loan scheme around 2010 to 2011.
I don't have any records really, as I thought I was way past the requirement to keep them.

Also, I'm not aware that HMRC ever indicated my tax affairs were being investigated.
I have tried contacting the loan line but to no avail. I have sent a them a general email asking them to be specific about what this refers to, but got the standard response.

So I guess, my most pressing questions are:
Should they be investigating 2010/2011 if it's not under investigation
How can I confirm if this period is under discovery/investigation
Was I incorrect believing that I was beyond the retention period for documentation
If they ask me for the details of the loan, how do I figure that out

With hindsight, some of the above seems moronic, but I thought I was well clear of this stuff after 7 years and not a peep.

thanks in advance.

HMRC Will contact your loan provider between Apr 2019-Oct 2019 and any loan outstanding will be subject to the loan charge. The loan charge provider will be asked to give out the users details and then you'll be contacted. There is still time to register for CLSO before 30th Sept. First check the loans from your bank accounts to estimate how much they were and put them and the rest of your wage (if any) into an online income tax calculator to check for the disputed tax minus the tax paid for that financial year.

[me206et]

I believe I may have been part of a loan scheme around 2010 to 2011.
I don't have any records really, as I thought I was way past the requirement to keep them.

Correct yes past time require. But HMRC do not care about that.


Should they be investigating 2010/2011 if it's not under investigation.

May not be under investigation, so should be no interest charges, but covered by 2019 loan charge

How can I confirm if this period is under discovery/investigation
Probabaly not either but as above
Was I incorrect believing that I was beyond the retention period for documentation
Yes
If they ask me for the details of the loan, how do I figure that out
You are asked/ required to provide them.
If not they have a method of working it out, which I do not understand.
If the trust is still around they will also be asked.

.

..

[webberg]

Hi guys,
new to the forum, and someone who has just received the dreaded letter (yesterday)

My story is that I contracted from around 2001 to 2012ish. I have been a permanent employee since.

I believe I may have been part of a loan scheme around 2010 to 2011.
I don't have any records really, as I thought I was way past the requirement to keep them.

Also, I'm not aware that HMRC ever indicated my tax affairs were being investigated.
I have tried contacting the loan line but to no avail. I have sent a them a general email asking them to be specific about what this refers to, but got the standard response.

So I guess, my most pressing questions are:
Should they be investigating 2010/2011 if it's not under investigation
How can I confirm if this period is under discovery/investigation
Was I incorrect believing that I was beyond the retention period for documentation
If they ask me for the details of the loan, how do I figure that out

With hindsight, some of the above seems moronic, but I thought I was well clear of this stuff after 7 years and not a peep.

thanks in advance.

I suggest that you PM me or Phil at DWS.

If PM not available, then search WTT or Phil at DWS.

[Sewin]

PM sent

[webberg]

HMRC Will contact your loan provider between Apr 2019-Oct 2019 and any loan outstanding will be subject to the loan charge. The loan charge provider will be asked to give out the users details and then you'll be contacted.

I think that's actually not true?

The reporting obligation is from lender/borrower TO HMRC.

HMRC are unlikely to be be contacting lenders or borrowers.

At the moment there is an awareness campaign going on, but if the HMRC letters reach 50% of those impacted, I'd be surprised.

[QCApproved]

You've made some reasonable assumptions on retention. However, this is not a reasonable activity you're being confronted with. I've no idea now how far HMRC may now want to go back
I guess we'll be safe when then planet is consumed in a fireball when the sun turns into a red giant.

[QCApproved]

We might have to have an oral storytelling tradition to make sure our grandchildren are aware of any tax avoidance measures so that they can deal with HMRC when they eventually get round to taking action against items the "do not work!