Settlements negotiations

[Mm11]

Hi all,

Just having a battle in my ahead on what to do and what will happen next... I literally have no money to pay the settlement even if I really want to... It'll have a massive impact on my life.
I wonder if any of you have gone through negotiations yet and what the best possible outcome can be achieved ?

Any information would be much appreciated....

Thanks in advance
Mm

[headspin]

I'm in the same boat as you

[catanonia]

Negotiations are not possible with HMRC.

You can argue expenses where allowed, but unlike the VAT man, they will not accept a % of the final bill.

[Dharmin]

Settlements negotiations

Hi all,

Just having a battle in my ahead on what to do and what will happen next... I literally have no money to pay the settlement even if I really want to... It'll have a massive impact on my life.
I wonder if any of you have gone through negotiations yet and what the best possible outcome can be achieved ?

Any information would be much appreciated....

Thanks in advance
Mm

I would say the option is to join the BIG GROUP / WTT and fight..

[starstruck]

I would say the option is to join the BIG GROUP / WTT and fight..

The elephant in the room with this approach is the loan charge. It will hit before the fight has even started; and there will be no refunds even if the fight is won. Challenging the loan charge seems to be the best solution, that's the LCAG/Phil.

[headspin]

The elephant in the room with this approach is the loan charge. It will hit before the fight has even started; and there will be no refunds even if the fight is won. Challenging the loan charge seems to be the best solution, that's the LCAG/Phil.

That was my conclusion too although there wasn't the possibility of a legal challenge when I made that decision. I had to decide where best to spend a grand or so and after deliberation felt it better to go to DSW for the above reason.

[GreenMirror]

Someone got 44 years TTP. HMRC cannot get what you do not have.

Contact Phil/webberg.

LCAG also will provide support .

[Mm11]

Thanks

Thanks guys. I am in touch with Phil. I don't know what to think anymore. I wish to have decent repayment plan otherwise it'll be really bad.

[Hero1234]

How do they know about other loans

Question is, how can hmrc determine that there have been other loans if they don't have those details

[Vincenth1]

Settlement negotiations

The 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.