HMRC enquiries for EBT schemes through SANZAR

[PC1976]

Interest whilte you wait..

Got a letter from Ms Stopp too, lovely little suprise that for the weekend, cheers

So I'm just thinking about waiting until APN arrives after having read the past few comments, the tone of the letter was poor and I agree, desperate.

I wont be ringing them to ask what's owed, they can pay the postage and send me a letter telling me, just wondering on the interest front what kind of numbers we're talking about as obviously when arrives I'll be paying.. If we said for example round figures I owed 50k for two years (tax) and again for ease 25k per year, whats four years interest on that ?

Cheers

[eek]

Got a letter from Ms Stopp too, lovely little suprise that for the weekend, cheers

So I'm just thinking about waiting until APN arrives after having read the past few comments, the tone of the letter was poor and I agree, desperate.

I wont be ringing them to ask what's owed, they can pay the postage and send me a letter telling me, just wondering on the interest front what kind of numbers we're talking about as obviously when arrives I'll be paying.. If we said for example round figures I owed 50k for two years (tax) and again for ease 25k per year, whats four years interest on that ?

Cheers

HMRC use simple interest for calculations and I believe its 3% a year so:-

so 5 x 3% =15% for the first year (so £3750 interest).
4 x 3% = 12% for the second year. (so £3000 interest)..

[DesparateDan]

HMRC use simple interest for calculations and I believe its 3% a year so:-

so 5 x 3% =15% for the first year (so £3750 interest).
4 x 3% = 12% for the second year. (so £3000 interest)..

I think it is 3% from the day it became due

So, for the 08/09 Tax Year, it's 3% (Simple) from Jan 31st 2010 and
for the 09/10 Tax Year, from 31st Jan 2011, etc.

They would charge daily, so about 82p per day, for every £10,000 "owed"

[DesparateDan]

Settlement Opportunity

I have to admit I am getting rather worn down by Hector and this latest letter makes me feel, they will just keep bending the rules until they find a way to screw us.

I was considering re-mortgaging, to take out a CTD, to stop the interest, but am beginning to consider giving in an "settling", so their letters are having the desired effect.

Has anyone seen any feedback from someone who has settled?
- Were they able to negotiate any allowance for expenses?
- Did they still have to pay the tax on the benefit from the loans, if they were deemed not to be loans?


Talk me out of it.

[costo]

I have to admit I am getting rather worn down by Hector and this latest letter makes me feel, they will just keep bending the rules until they find a way to screw us.

I was considering re-mortgaging, to take out a CTD, to stop the interest, but am beginning to consider giving in an "settling", so their letters are having the desired effect.

Has anyone seen any feedback from someone who has settled?
- Were they able to negotiate any allowance for expenses?
- Did they still have to pay the tax on the benefit from the loans, if they were deemed not to be loans?


Talk me out of it.

Dan, have you actually tried to remortgage? speaking to broker's it would appear no lenders (or any that my broker has approached) will remortgage to pay a HMRC debt.... only chance is to "lie" about its reason... but apparently there is a register HMRC puts those who have outstanding debt's (which I'm not sure if disputed tax counts as) and if court lying on your application, you could create massive trouble remortgaging in the future..

[PC1976]

HMRC use simple interest for calculations and I believe its 3% a year so:-

so 5 x 3% =15% for the first year (so £3750 interest).
4 x 3% = 12% for the second year. (so £3000 interest)..

Great, cheers for that..

[sl4]

forget remortgaging

Dan, have you actually tried to remortgage? speaking to broker's it would appear no lenders (or any that my broker has approached) will remortgage to pay a HMRC debt.... only chance is to "lie" about its reason... but apparently there is a register HMRC puts those who have outstanding debt's (which I'm not sure if disputed tax counts as) and if court lying on your application, you could create massive trouble remortgaging in the future..

This is all true, no mortgage broker will go near you if you say the money is to pay HMRC. I spoke to a broker a while back. You won't find any interested lenders.

[DesparateDan]

Dan, have you actually tried to remortgage? speaking to broker's it would appear no lenders (or any that my broker has approached) will remortgage to pay a HMRC debt.... only chance is to "lie" about its reason... but apparently there is a register HMRC puts those who have outstanding debt's (which I'm not sure if disputed tax counts as) and if court lying on your application, you could create massive trouble remortgaging in the future..

Good points. I was using the term "remortgage", but actually I have a flexible mortgage, so I would be borrowing the money from what amounts to an agreed overdraft facility. (I don't need to say what the money is for) It is still linked to the mortgage and will need to be paid back before the mortgage term ends (which I admit I am not likely to be able to do, so will probably need to sell up at some point)

[CanPayButWouldRatherNot]

i have a flexible mortgage ..INSTEAD of a ctd .. HMRC will charge me simple interest ... I am using the money to offset my compound mortgage .. so the longer this goes on the better for me .. I am a bn66'er .. so since 2010 when ctd's were discussed on here ... the rally in property market and the benefit of the interest rate swap .. will ease some of the pain for me...

given the on running saga ... who is to say we wont still all be here in 2018 ...


#dontsettle

[Crusoe101]

I Got the Letter asking to settle

I was in the partnership for 08-09 and bailed before EBT however I keep getting letters about loans. I have never been paid in the form of a loan.

I owe roughly 10K but had expenses of living in London. Unsure if to ask for settlement