Hi All, I need help with settlement with HMRC. Did anyone have their expenses accepted by HMRC? If so, can you please PM me.
Thanks.
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Settling with HMRC - 10% off loans and salary as an expense
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Originally posted by Krung Thep View PostIt's not published anywhere because it doesn't exist. I believe everyone has the opportunity to make a counter offer to HMRC when settling. That is what I did, giving HMRC a breakdown of my expenses incurred for the duration of my contract which included mileage, accommodation and subsistence allowances for working away from home.
What HMRC were prepared to concede on expenses was roughly a 14% deduction on settlement offer. My expenses were greater than that and they didn't provided me with a breakdown of how they arrived at their figure. I refused settle and to this day I have not handed over a penny to anyone. Best advice anyone can take is use your own judgments and instincts rather than getting it from anyone else. That includes tax specialist and advisors, paid or otherwise.Leave a comment:
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Originally posted by nickyboyc View PostHi All,
I'm posting a fresh thread for the benefit of those who still have something to settle with HMRC.
I recently found out that some individuals when settling with HMRC were allowed to deduct 10% of their loans and salary for each tax year being settled.
My question to anyone who utilized the 10% expenses deduction is how did you know this 10% deduction of loans and salary as an expense was even an option? I've checked the November 2017 settlement terms and there is no mention of this there and neither on the 2020 terms. I asked HMRC about this and they told me it was up to each individual to make their own expenses claim request which I did not. Is this 10% expenses deduction published anywhere? Surely benefitting from this 10% is not dependent on being on a forum?
I've been through years of the propaganda of HMRC not negotiating and the settlement terms are the settlement terms so have been completely brain washed.
What HMRC were prepared to concede on expenses was roughly a 14% deduction on settlement offer. My expenses were greater than that and they didn't provided me with a breakdown of how they arrived at their figure. I refused settle and to this day I have not handed over a penny to anyone. Best advice anyone can take is use your own judgments and instincts rather than getting it from anyone else. That includes tax specialist and advisors, paid or otherwise.Leave a comment:
-
Settling with HMRC - 10% off loans and salary as an expense
Hi All,
I'm posting a fresh thread for the benefit of those who still have something to settle with HMRC.
I recently found out that some individuals when settling with HMRC were allowed to deduct 10% of their loans and salary for each tax year being settled.
My question to anyone who utilized the 10% expenses deduction is how did you know this 10% deduction of loans and salary as an expense was even an option? I've checked the November 2017 settlement terms and there is no mention of this there and neither on the 2020 terms. I asked HMRC about this and they told me it was up to each individual to make their own expenses claim request which I did not. Is this 10% expenses deduction published anywhere? Surely benefitting from this 10% is not dependent on being on a forum?
I've been through years of the propaganda of HMRC not negotiating and the settlement terms are the settlement terms so have been completely brain washed.
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