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ns1
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Last Activity: 21 October 2021, 08:16
Joined: 27 May 2015
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  • The total loans being written off is below the 325k IHT threshold, so there's no IHT.

    As far as HMRC are concerned, you've settled and that's the end of it. (They'd get crucified by MPs if they started trying to tax the loans twice.)...
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  • ns1
    replied to A load of hot air?
    If I was going all-electric, I'd rather get away from a plumbed system with boiler and radiators. It has always struck me as a bit dumb circulating hot water in a house for heating. There is far less to go wrong with individual electric heaters and an immersion heater for hot water....
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  • ns1
    replied to A load of hot air?
    Anecdotally, a couple my wife knows bought a house which had ASHPs. They were very noisy and bloody expensive to run (£500/qtr). They ended up replacing them with oil central heating....
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  • ns1
    replied to A load of hot air?
    Yes but most of the houses in the UK ain't modern....
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  • ns1
    replied to A load of hot air?
    Ground source heat pumps are the most efficient because they extract heat from underground which is >10degC even in the middle of winter. But only a small % of homes could install one of these.

    Air source pumps don't work so well when you really need them ie. when it's bloody cold outside....
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  • ns1
    replied to Montpelier DTA scheme bulletin
    (There were no loans with this scheme, so the loan charge is irrelevant.)

    There must have been open enquiries, for each year, for HMRC to issue APNs and closure notices.

    Surcharges kick in if you don't pay the APNs on time (2x5% after 6 months). Surcharges would also kick...
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  • ns1
    replied to Montpelier DTA scheme bulletin
    There is no connection between closure notices and APNs. They are two separate things. Given what you've said, I would assume that the 2x5% surcharges are for non-payment of APNs after 6 months.

    Regarding the interest, they'll probably argue that you could have made payments on account...
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  • ns1
    replied to Montpelier DTA scheme bulletin
    Was there more than 6 months between the date on the APNs and the date you settled? If so, this could explain the 2 x 5%.

    I guess another possibility is that the APNs are still showing as outstanding on their system, even though you've settled.

    You've certainly nothing to...
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  • ns1
    replied to Montpelier DTA scheme bulletin
    Were the surcharges 5% for late payment of APNs? If so, I'm guessing you didn't pay the APNs within the allowed 28 days?

    It's annoying that they didn't raise this at the time you settled and agreed the TTP. If you do have to pay these surcharges, you might be able to add them to the TT...
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