HMRC settlement & writing off loans from Fernleigh / Ronsard/Rathowen

[hobbes21]

Good info thanks....yes I wish retrospectively I'd had a longer spoon or avoided supping at all. It was an emergency situation after being out of the country for a long time and a consultancy I landed a contract with urged me to use them. I only supped for 2 years and then managed to get a permanent job as I got cold feet. Its been festering in the nuclear pile in the corner ever since.

Anyway thanks for taking the time with the long post...very much appreciated.

Cheers

Rob

[hobbes21]

I have subsequently found an email from Montpellier in 2019 when I first told them I wanted to settle, sent therm the agreement and they responded that Fernleigh trust instructed Rathowen to make the loan on their behalf. It's still with Fernleigh now...so I sent the email to HMRC and just asked them to reflect what is fact in their statement.

I'm waiting to hear back

[hobbes21]

Well hallelujah, after suggesting to them they just add the name Fernleigh to the names already on the agreement I've just received confirmation that they will now change the name to include Fernleigh. It had to be "passed up the chain of command".....

So is it possible but it took about 5 emails and negative responses to my increasingly frustrated incredulity that it "wasn't possible"....

Happy to share privately what I said with anyone suffering in similar circumstances.

[piebaps]

Nice one Rob. Great news.

[hobbes21]

Nice one Rob. Great news.

Well, I've done the deed, signed up with HMRC for the settlement agreement so the 90 day clock is ticking. I've advised Montpelier through their outlook address but they have not replied to anything since last October. So I've also asked GW pursue the loan write off through the liquidators angle.

Big cheque to HMRC and then monthly payments for the next 7 years....... hopefully there's a light ....albeit an expensive one at the end of the tunnel.

Anyone else had any other experiences?

[Jumper]

You are at least on the right road Hobbes, that is the main thing. When did you initiate settlement with HMRC for settlement only just being reached now?

Well, I've done the deed, signed up with HMRC for the settlement agreement so the 90 day clock is ticking. I've advised Montpelier through their outlook address but they have not replied to anything since last October. So I've also asked GW pursue the loan write off through the liquidators angle.

Big cheque to HMRC and then monthly payments for the next 7 years....... hopefully there's a light ....albeit an expensive one at the end of the tunnel.

Anyone else had any other experiences?

[hobbes21]

You are at least on the right road Hobbes, that is the main thing. When did you initiate settlement with HMRC for settlement only just being reached now?

Would you believe, nearly 2.5 years ago......despite me chasing i,t not the other way round.... I even got an apology from HMRC and an offer of compensation.....albeit a derisory £75..... after they effectively forced me into cashing a pension in early to get a lump sum to satisfy their demand for payment within 30 days ..... and then 2 years later...I am about to finally pay over that sum. If I'd left it where it was I would have almost had enough to pay them outright now from an increased 25% tax free amount....... Just crap...but as you say I'm on the right road.

what a nightmare.

[Jumper]

That is terrible and typical. I am sure they were just happy to sit back and watch the interest add up and they compensate you with a £75 payment.

I am sure it is at least a relief to reach the milestone however and you can start to put that element behind you.

I hope you write-off is a little quicker than HMRC were!

Would you believe, nearly 2.5 years ago......despite me chasing i,t not the other way round.... I even got an apology from HMRC and an offer of compensation.....albeit a derisory £75..... after they effectively forced me into cashing a pension in early to get a lump sum to satisfy their demand for payment within 30 days ..... and then 2 years later...I am about to finally pay over that sum. If I'd left it where it was I would have almost had enough to pay them outright now from an increased 25% tax free amount....... Just crap...but as you say I'm on the right road.

what a nightmare.