Originally posted by Vincenth1
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Settlements negotiations
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Proof of loans.
Got caught up in this mess over two years of which an APN was issued and which I paid over installments. 2009 and 2011. Got a settlement pack recently and wondered if they would ask me to prove that there were no other EBT loans apart from what they (hmrc) already have. I intend providing them with info from the loan providers AML in this case which they already have.. Can anyone tell me if they will stress me out to prove there are no others as there aren't. Are they going by what they already have or can they tell me to prove that there aren't any more. I only received an APN for one year but they are aware of the other year which i am not sure the APN covered. Need help here please as i am going out of my mind not knowing if they would open me up like a can of sardines on years not on scheme.Comment
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Proof of loans.
Got caught up in this mess over two years of which an APN was issued and which I paid over installments. 2009 and 2011. Got a settlement pack recently and wondered if they would ask me to prove that there were no other EBT loans apart from what they (hmrc) already have. I intend providing them with info from the loan providers AML in this case which they already have.. Can anyone tell me if they will stress me out to prove there are no others as there aren't. Are they going by what they already have or can they tell me to prove that there aren't any more. I only received an APN for one year but they are aware of the other year which i am not sure the APN covered. Need help here please as i am going out of my mind not knowing if they would open me up like a can of sardines on years not on scheme.Comment
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Originally posted by Vincenth1 View PostThe answer is HMRC will use a x10 calculation in the absence of information from you.
If YOU don't report the loans (you need to do so by the end of this month if you want to register an interest in settling or I think by Oct 2019 for the Loan Charge which will need to be paid by the end of Jan 2020) you run the risk of very hefty penalties if/when they find out, that's if your scheme provider or trust hasn't reported the loans to them already. So in short, it's a very risky strategy. Yes pretty crappy I know.
We have dealt with a lot of settlement cases and have not seen HMRC use a 10x multiplier.
If you have got evidence of that, I'd like to see it as
a) it's not acceptable
b) almost certainly can be successfully challenged
c) is useful in showing a Tribunal
In terms of "hefty penalties", other than the sabre rattling we see in HMRC letters of "settle or else", do you have anything specific? If so, again i'd like to see it for the reasons above.
ThanksBest Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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Originally posted by ChimpMaster View Post10 x what?
I proceeded to tell them to do one and asked why they are estimating when they have all my details. They then came back with a true figure instead of estimating. A lot of the time they are just plain lazy, so you have to play your own game and not theirs !!!!STRENGTH - "A river cuts through rock not because of its power, but its persistence"Comment
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Originally posted by regron View Postthe salary you declared for that particular scheme year. I had two estimates for two of my years, although they were estimated at 3 x salary and 5 x salary.
I proceeded to tell them to do one and asked why they are estimating when they have all my details. They then came back with a true figure instead of estimating. A lot of the time they are just plain lazy, so you have to play your own game and not theirs !!!!Comment
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Originally posted by Hero1234 View PostIs this the loan amount or the salary? I assume they already had both loan amount and salary.STRENGTH - "A river cuts through rock not because of its power, but its persistence"Comment
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Proof of loans.
Got caught up in this mess over two years of which an APN was issued and which I paid over installments. 2009 and 2011. Got a settlement pack recently and wondered if they would ask me to prove that there were no other EBT loans apart from what they (hmrc) already have. I intend providing them with info from the loan providers AML in this case which they already have.. Can anyone tell me if they will stress me out to prove there are no others as there aren't. Are they going by what they already have or can they tell me to prove that there aren't any more. I only received an APN for one year but they are aware of the other year which i am not sure the APN covered. Need help here please as i am going out of my mind not knowing if they would open me up like a can of sardines on years not on scheme.Comment
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Originally posted by Hero1234 View PostGot caught up in this mess over two years of which an APN was issued and which I paid over installments. 2009 and 2011. Got a settlement pack recently and wondered if they would ask me to prove that there were no other EBT loans apart from what they (hmrc) already have. I intend providing them with info from the loan providers AML in this case which they already have.. Can anyone tell me if they will stress me out to prove there are no others as there aren't. Are they going by what they already have or can they tell me to prove that there aren't any more. I only received an APN for one year but they are aware of the other year which i am not sure the APN covered. Need help here please as i am going out of my mind not knowing if they would open me up like a can of sardines on years not on scheme.Comment
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Originally posted by GreenMirror View PostYou have told them everything. You have nothing to worry about.
I had APN notices for only 2009 and 2010 but also I was with AML in 2011 as well (no APN).
So I would have to say I declare for all three years.
Can anyone confirm?
RegardsComment
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