HMRC settlement Deadlines/delays and the LC

[webberg]

Just received an e mail from those jolly jokers at HMRC saying of we dont get your information by 4 September ( 28 days from the date of the e mail) we will assume you dont want to settle.

Can they arbitrarily steal over 3 weeks of consideration time from me?

Absolutely they can.

The settlement is open only for so long as HMRC say so. It's extra statutory and no deadline will be found in the law.

[SOP8]

Loan Charge and APN

I have received couple of days ago letter from HMRC for LC. I was not previously aware of it.
As I already have paid APN's in 2015 my idea is to use this money to settle.
I was using Edge Consulting EBT.

I emailed them asking to settle and received automatic reply to provide them with standard information.
One of the question is: "The amount of the loans you used in each tax year".
I calculated the amounts from the P11D: amount outstanding on April 2011 - amount outstanding on April 2010 - amount outstanding on April 2009 - amount outstanding on Apr 2008.
- I wonder if that is the correct calculation?

- If HMRC agrees to settle with the amount that I already paid for APN, I wonder if the loans will be automatically written off?
It seems that both Edge Consulting and their trustees are dissolved.

[webberg]

I have received couple of days ago letter from HMRC for LC. I was not previously aware of it.
As I already have paid APN's in 2015 my idea is to use this money to settle.
I was using Edge Consulting EBT.

I emailed them asking to settle and received automatic reply to provide them with standard information.
One of the question is: "The amount of the loans you used in each tax year".
I calculated the amounts from the P11D: amount outstanding on April 2011 - amount outstanding on April 2010 - amount outstanding on April 2009 - amount outstanding on Apr 2008.
- I wonder if that is the correct calculation?

- If HMRC agrees to settle with the amount that I already paid for APN, I wonder if the loans will be automatically written off?
It seems that both Edge Consulting and their trustees are dissolved.

With respect, you need to spend a couple of hours getting up to speed.

Your calculations is as good as any other method.

No - the loans will not be automatically written off if you agree the tax position. Why would they be? The lender is not involved in the tax position and HMRC is not a named party on the loan agreement.

The Edge trustee is still around and 30 minutes on the internet will discover a contact point.

[timetogohome]

Settlement Pack and CTD

I purchased CTD’s a couple of years prior to the APNs being issued and think the 2 tax periods I was in a scheme are both open, and therefore liable for interest between the due date and the date the CTD was purchased. They exceed the APN figure.

Is there a way to include this information in the settlement pack?

[FairyLiquid]

Settlement pack

I too have a CTD and want to know how to put this in the summary sheet.

Webberg, would you be able to PM me as have other questions about filling in the summary form for HMRC.
I don’t want to get it wrong as they only just sent me the pack to fill in some 3 months after I told them I wanted to settle.

Panicking.... wish I never bothered with AML.

[HMRC made Atlas Shrug]

What happens if you don't know the exact figures for the loan amounts?

I'm going through my old bank statements and a few entries I am not sure if they are related to the loans?

What I am asking is, what if the figures you give to HMRC are not 100% accurate (but 99% accurate)?

In my case HMRC’s guestimate of my loan was a lot and I mean a LOT, did I say a LOT, in case I did not or it did not sink in I say again. HMRC’s guestimate for my loan was a ---> LOT <--- more than my actual loan. Based on my experience, HMRC will make things up and it is up to you to proof them wrong. I think (I’m guessing here because the HMRC zombies did not want to explain) they calculated my loan also on periods when I was between contracts. It took a lot of my time but I was able to get bank statements for everything, it is how I was able to proof to HMRC my actual loan total.

A word of advice/warning I was given. I sent HMRC copies of my bank statements but only AFTER I out of principal (and on mentioned advice), blanked out everything apart from the loan payments.

So based on my own experience I suggest you create your own spreadsheet using actuals. Compare it with that made up by HMRC, even if it is just for yourself.

By the way. My spreadsheet came in handy when checking for errors made by the HMRC zombies on their interest and charges.

[HMRC made Atlas Shrug]

Meant to add I engaged a tax specialist to help settle the EBT. They charged over £3k and fro what I can see just agreed settlement and the tax numbers. Did not actually fight the case... I could have worked out the tax liabilities.

So £3k on top of the tax bill... felt violated

I also considered using professional advice but luckily decided against it for various reasons. It was hard work and took many hours (months) of my time and loss of sleep, but at least I was violated only once by the rubbish working at HMRC. I have to add, to do this yourself, it is not for sissies. The scum working at HMRC are ruthless and in my opinion, try to break you any way they can no matter what the consequences.

A heads-up. I hope you also settled (addressed) IHT on your “settled” loans. The crooks working at HMRC are sneaky about it. When I looked into getting professionals to help me with ---> just <--- the IHT after HMRC came after me for it after I settled, it would have cost me a lot more than the £3 you handed over to your friendly advisor. So I decided to punish myself some more and also handled it myself. In my no so humble opinion, I got a better result than if I went with an expensive advisor.

For any sheeple reading this. I am NOT giving advice, I am only saying what happened to me and my opinion. You make your own decisions and live with the results.

[Mm11]

Still 30th September

Hi All,

Just spoke with Phil Manley about this earlier deadline and that isn't correct. The deadline is still end of September. Nothing has changed here.

Phil said :
"I spoke to hmrc regarding these letters which give 30 days to provide details or they will "assume" you don't wish to settle. I specifically had them confirm that as long as people stick to the deadline of 30 sep then settlement is still available. In short - it's their way of fooling people into thinking the deadline has changed so you settle quicker. There is no need - the deadline remains 30 sep."

Cheers,
M11

[Iter]

I also considered using professional advice but luckily decided against it for various reasons. It was hard work and took many hours (months) of my time and loss of sleep, but at least I was violated only once by the rubbish working at HMRC. I have to add, to do this yourself, it is not for sissies. The scum working at HMRC are ruthless and in my opinion, try to break you any way they can no matter what the consequences.

A heads-up. I hope you also settled (addressed) IHT on your “settled” loans. The crooks working at HMRC are sneaky about it. When I looked into getting professionals to help me with ---> just <--- the IHT after HMRC came after me for it after I settled, it would have cost me a lot more than the £3 you handed over to your friendly advisor. So I decided to punish myself some more and also handled it myself. In my no so humble opinion, I got a better result than if I went with an expensive advisor.

For any sheeple reading this. I am NOT giving advice, I am only saying what happened to me and my opinion. You make your own decisions and live with the results.

Out of interest didn’t HMRC request un-redacted statements? Guess they just accepted what you gave them?

[HMRC made Atlas Shrug]

Out of interest didn’t HMRC request un-redacted statements? Guess they just accepted what you gave them?

HMRC accepted my redacted statements and if they queried it, I’m not a legal expert but my understanding is they can’t just barge in and say show us your private life which everything else is.

I provided them with blanked out copies of the actual bank statements showing the actual payments, all other amounts and descriptions were redacted. HMRC accepted that. I understand why because if anybody is stupid enough to go “doctor” an amount (statement), my guess is that is jail time and it is not for me, it is not worth the risk.

All they were interested in is the correct loan amounts and proof, what better way than bank statements. Should HMRC ever query the amounts which I can’t see why they would, I now have all my bank (not redacted) statements on file. I will now never get rid of them because I do not trust the people working at HMRC not to do something else that is stupid.

Good luck and hope you have lots of Vaseline handy because this is painful.