Loan charge review - Government response is here

[lowpaidworker]

You don't "need" to settle. You can choose not to.

Also you can calculate your values now and prepare for the settlement. That will be ready around 30th September, unless you have a time to pay.

So effectively if settlement is your thing you've had from at least May 2018 to the end of September this year (28 months) to prepare.

Re the choose not to settle... I would say settle is not my thing however I'm getting to the stage where this impacting my health. I'm no spring chick and I have two children both still at Junior school. Not really sure how long I can go on with this.


Re Settlement amount. I should have been clearer. I have it all on an spreadsheet and I know to the nearest hundred quid what I think i owe as settlement (not LC).

Am interested in seeing what they think I owe as I've heard some horror stories. I also have interest in whether HMRC look at all their paper work and apply a letter of law. For instance were they out of time in issuing any letters etc. However I think i probably know the answer to that.

I guess when you think about settlement there is going to be mini battles (each year) within the war (finality and settlement). Ultimately I will seek professional advice in settlement and if thereis any way I can get a year or even two removed I will explore that option

[DealorNoDeal]

For instance were they out of time in issuing any letters etc. From what you said in the other thread, I doubt it. I bet HMRC asked you to submit those SATRs because they knew they could still issue s9a or s29.

Ultimately I will seek professional advice in settlement and if thereis any way I can get a year or even two removed I will explore that option I wouldn't hold out too much hope of getting any years removed.

I'd be wary of being led down any challenge against the validity of the s9a and s29, especially if it means forking out ££££.

[lowpaidworker]

I'd be wary of being led down any challenge against the validity of the s9a and s29, especially if it means forking out ££££.

Thats definately in my thoughts. But given the size removing one or two years based on the SAM review would make a difference. Might be worth a punt to get expert honest advice.

I dont need an expert to tell me whether HMRC settlement sums are correct. I made that costly mistake with my APNs

[DealorNoDeal]

Thats definately in my thoughts. But given the size removing one or two years based on the SAM review would make a difference. Might be worth a punt to get expert honest advice.

Not sure how the SAM review would make any difference* but I guess there's no harm in seeking a review of your position.

* all the SAM review does it take your pre-Dec2010 Edge years out of the LC, but these years are open anyway

[lara400]

I have a settlement that I agreed with HMRC for 2012/13 years; they came back to me and stated how much I need to pay - however, I have never received any information from HMRC of who to pay (ie, payment details on their end).

In November I received a letter from HMRC stating two options - either wait for the review to complete and a promise they will not increase the payment (ie add interest to the settlement or add extra cost based on the review) or just settle now. I left it since I wanted to wait for the review - called HMRC around November and they stated until I receive a payment request from HMRC detailing payment information then don't pay yet - i.e. the balls in their court.

I assume the outcome of the review means I still have to pay since I have got a settlement agreed right? So, based on that I assume I will get HMRc payment letter (eventually)?

[Virtualguy]

A contract signed before March 2016 is almost certainly NOT going to be amended and tax repaid.

A contract signed after that which includes closed years will be amended, probably around July this year.

Hi, thanks for this. I'm someone who had closed, pre December 2010 years, but due to the pressure, deadlines etc, completed, signed and sent back a settlement agreement. However, I received the letter stating that I could await the outcome of the review. So, can I assume, from what you have stated here, that I should expect them to amend that agreement, or simply write to say that it won't be pursued? I am curious about one thing - the agreement and corresponding forms only stated tax years and amounts - it didn't allow space to provide information (dates) on when I actually took out the loans (which, as I say, were pre December 2010).

[Virtualguy]

I spoke to HMRC who confirmed that I had signed the settlement however, HMRC had not accepted the settlement as they decided to put this on hold and wait for review to be completed. HMRC have told me as the settlement has not been accepted by themselves do nothing until it is now accepted in law. All by years were pre 2010
Hope this helps someone else in similar position.

This is very useful - thanks. So do you have the impression, although you signed and returned the agreement, they are not going to enforce it? I had that impression too when they sent their letter in November stating that it was being put on hold. Similarly, my loans were pre December 2010, and were closed years.

[DealorNoDeal]

This is very useful - thanks. So do you have the impression, although you signed and returned the agreement, they are not going to enforce it? I had that impression too when they sent their letter in November stating that it was being put on hold. Similarly, my loans were pre December 2010, and were closed years.

With closed pre-Dec2010 years, it wouldn't have mattered even if the settlement had been finalised. HMRC would have to undo it and refund you.

In your case, they'll just have to tear it up.

See FAQ
https://www.contractoruk.com/forums/...010-loans.html

[lowpaidworker]

Anyone got an opinion on this.

HMRC Powers and Safeguards Review – evidence needed - The Law Society

[BrilloPad]

Anyone got an opinion on this.

HMRC Powers and Safeguards Review – evidence needed - The Law Society

Cheers for the link. 5 days to give evidence? "What specific powers have HMRC broken"? For people with mental health issues? I reckon they will just say HMRC are doing great. And I emailed them to tell them that. I bet its the last I ever hear.

But a good spot - cheers for posting.