Originally posted by Ltdoptions
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Any settlement figures yet?
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Ah I meant her definition of B) was presumably someone who had not even registered an interest in settlement.
"the vast majority are wanting to sort things out and they are talking to us because they want to pay. There may well be a tiny, small minority who are determined not to. In those circumstances, we feel it is right that we retain the right to consider insolvency"
However, the question is what happens when someone simply can't afford the settlement?Comment
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All I've been able to find is a minute from the Treasury Select Committee on 30 Jan. Here's the quote
Rushanara Ali, Labour, asked what can be done for people with very large amounts of money where a five year period to repay is not enough. Aiston said HMRC would only consider insolvency for the tiny minority who choose not to settle and do not have 'good intent'. HMRC do not have a maximum period, the HMRC lady said. If taxpayers do not have income that means they cannot pay it off, then something can be done.
There was no follow up question to find out what "something" was.Comment
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Good question. Leaving themselves wriggle room basically, so they can get houses via the back door.Comment
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Originally posted by DavidD View Postmy wife has been given 8 years to pay and I’ve heard of people being given 10 years.Comment
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Originally posted by here4beer View PostAt what interest rate? I was given 4.25%, and came forward of myself.
Interest on late paid tax is presently 3.25%.
Interest on unpaid instalments under a TTP is 4.25%.
No mystery.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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Originally posted by webberg View PostInterest rates are fixed and the same for everybody.
Interest on late paid tax is presently 3.25%.
Interest on unpaid instalments under a TTP is 4.25%.
No mystery.Comment
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Originally posted by here4beer View PostI don't understand the difference between the two options. My tax is late, as I didn't have enough money to pay the full bill, only 50% of it. I asked for 3 years, and was told 4.25%. How would I qualify for the 3.25% in future? Thanks.Comment
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