I have received a pre-2010 Closure Notice

[Nava39]

Hi, I have received a pre-2010 closure notice from HMRC, relating to an open year with EBT loan enquiry. They have provided an amount to pay.
Wanted to ask if anyone has had an experience of Closure notices and can provide me some insight in to if I was to pay the demand, is that the total closure of the tax year and the Loan amount, or can HMRC still come after things such as Inheritance Tax and further demands for the tax year?

I do not have access to an accountant or a tax specialist, and would like some initial insight if you can provide. Happy to engage with a specialists if can be recommended.

[WTFH]

Hi, I have received a pre-2010 closure notice from HMRC, relating to an open year with EBT loan enquiry. They have provided an amount to pay.
Wanted to ask if anyone has had an experience of Closure notices and can provide me some insight in to if I was to pay the demand, is that the total closure of the tax year and the Loan amount, or can HMRC still come after things such as Inheritance Tax and further demands for the tax year?

I do not have access to an accountant or a tax specialist, and would like some initial insight if you can provide. Happy to engage with a specialists if can be recommended.

You'll have to ask HMRC if it is the total closure, but it will not include repaying the loan.
You'll need to go to the company that provided the loan to get them to close it off, which they will probably only do after you've got confirmation from HMRC that you have settled the tax side of it.

A tax specialist (such as Gilbert Tax) will go through the figures and confirm whether they are correct or not, making sure you're not paying the wrong amount etc. They also take the stress out of dealing with HMRC. It may be worth contacting them to explain your situation, and see what they suggest.

[Nava39]

Beside Gilbert and WTT can anyone please recommend a firm to advise me on the Closure Notice?

[woody1]

I doubt there'd be any IHT.

But they will charge you late payment interest, which will be a pretty hefty amount after 14+ years.