S684 Letters from HMRC

[GregRickshaw]

Is there another possible strategy? The only other strategy I can think of is to pay the overdue tax and get on with life?

Nope... Quite right there isn't.

I meant more those group/class style seem to quote they will go to court with x amount of cases, yet with the MSC cases they are not going to run forever they WILL go to court at some point... possibly

[Fred Bloggs]

And remember even delaying tax payment is regarded as advantageous by HMRC.

Hence the penalties for doing so. I struggle to see anything more positive than a lose/lose scenario for individuals.

[DealorNoDeal]

If someone was facing bankruptcy, then there could be an advantage to delaying. But HMRC rarely bankrupt scheme users, unless the user chooses that route. Very long TTPs are possible, even 20 years, and in most cases surely that would be preferable to BR?

However, anyone who has been with Big Group for 7 years would probably find it psychologically very hard to change course now.

Over the past decade, late payment interest wasn't too much of a problem but that's all changed now. HMRC are already charging 5.5%, and it probably won't be long before it's up around 7%.

[eek]

If someone was facing bankruptcy, then there could be an advantage to delaying. But HMRC rarely bankrupt scheme users, unless the user chooses that route. Very long TTPs are possible, even 20 years, and in most cases surely that would be preferable to BR?

However, anyone who has been with Big Group for 7 years would probably find it psychologically very hard to change course now.

Over the past decade, late payment interest wasn't too much of a problem but that's all changed now. HMRC are already charging 5.5%, and it probably won't be long before it's up around 7%.

It's simple rather than compound interest but even so that's going to rapidly increase the interest bill now interest rates are returning to historical norms.