Originally posted by Ian Richardson GT Leeds
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TTP - time to pay Loan Charge and Settlement
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Originally posted by Ian Richardson GT Leeds View PostMy favourite real life example is someone who has been a "contractor" at the same multinational for more than 5 years now
During the two years that he was employed by one "umbrella", he received loans > £350k …..Leave a comment:
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PYFT
Originally posted by Fred Bloggs View PostWhich would be completely unrealistic if the tax bill was more than a hundred grand or so. Anyone persistent in using schemes for a number of years on a day rate of more 500 quid could quite likely fit that bill. I really don't have much idea, but a tax debt of more than a 100 grand is perhaps not unheard of?
During the two years that he was employed by one "umbrella", he received loans > £350k …..Leave a comment:
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Originally posted by DealorNoDeal View PostTrue but it wasn't so long ago that HMRC were only accepting max 2 years TTP.Leave a comment:
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Originally posted by DealorNoDeal View PostTrue but it wasn't so long ago that HMRC were only accepting max 2 years TTP.Leave a comment:
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Originally posted by Fred Bloggs View PostMaybe not, might indicate an enormous tax bill that nobody would regard as impressive.Leave a comment:
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Originally posted by DealorNoDeal View PostImpressive. Can anyone beat that?Leave a comment:
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Originally posted by Delendog View Post6) 20 yearsLeave a comment:
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Originally posted by lowpaidworker View PostWondered what people experiences are. I see not many people have agreed these.
So - if we can keep this on topic would be great.
- Has anyone agreed
- How did you find the process and agreement
- Did you use an advisor or do this yourself
- Did you have to provide an Income and Expenditure statement
- Did HMRC ask lots of questions about your expenditure and if so refuse to include certain items
- How long was your TTP
Am finding the process pretty stressful IMHO.
2) A lot of back and forth - i did calculations myself including removing 10% for expenses.
3) Did it myself but did copy in MP and LCAAPG - which vastly improved HMRC response time and got a named caseworker allocated.
4) yes
5) no
6) 20 yearsLeave a comment:
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Originally posted by lowpaidworker View PostWondered what people experiences are. I see not many people have agreed these.
So - if we can keep this on topic would be great.
- Has anyone agreed
- How did you find the process and agreement
- Did you use an advisor or do this yourself
- Did you have to provide an Income and Expenditure statement
- Did HMRC ask lots of questions about your expenditure and if so refuse to include certain items
- How long was your TTP
Am finding the process pretty stressful IMHO.
2. Quite easy, I made a repayment offer of a lump sum of 30%, and how much I could afford per month (which was approx 25% of my pay after tax) and they agreed.
3. Did it myself.
4. No, just quoted my monthly income after tax.
5. No.
6. 100 months (8 + years)
Fortunately for me they messed, up the Forward interest calculation and only effectively charged me 0.5% .Leave a comment:
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