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[GregRickshaw]

Webberg from WTT has posted this about the high amount you are seeing. HTH

"The simple answer is that most 2018/19 discovery assessments claim to be in respect of the loan charge.

The loan charge is a tax specific to those who have used disguised remuneration schemes,...

[GregRickshaw]

Let's hope the calls were recorded for training and monitoring purposes!

However what HMRC do get twitchy about if you have fancy pants cars sitting on your drive or second properties.

For them to use vernacular about selling your home is probably against all mental health...

[GregRickshaw]

Ok you've made the correct move by getting in contact with them that's a huge step you have taken and I image a big relief.

Tax specialists advisors aren't always as expensive as you think and they can pay for themselves if they can get your late payment charges alone removed.
...

[GregRickshaw]

So sorry to hear another in this situation, to see your words makes my heart break.

Breathe and think logically we are all here to help with words and avice, many of us have been through this exact situation, but you need to act now.

First off you need to open a communication...

[GregRickshaw]

We hear you, this is a particularly horrible assault on individuals who really thought they were doing the correct thing by having LTD companies. This is a way worse state of affairs than the loan charge IMHO as those of us who were in those did probably realise it was a bit 'fishy'

Anyway...

[GregRickshaw]

Venturi, without doubt the very worst of all Rec agencies I had the misfortune to use....

[GregRickshaw]

I hope that wasn't a real XR3 Cabriolet

[GregRickshaw]

Someone in another post said HMRC had actually said this on the phone to them... not sure how true it was....

[GregRickshaw]

Sadly I agree while the hope and optimism exists in being part of a group it just delays the inevitable really and I guess ultimately makes it worse....

[GregRickshaw]

Let them know I still have it and have been using it every year since they gave it to me...

[GregRickshaw]

Is it over yet?

I'm starving!

[GregRickshaw]

I am never sure what WTT and the Big Group and the Loan Action Group et al. are actually doing about the schemes.

Have any of them actually defeated HMRC

I'm not saying they are a bad thing for PoM and being part of a community etc., but ultimately you want it over....

[GregRickshaw]

If you have an outstanding debt HMRC can apply to the County Court to get a charging order applied to your house/home. This could then ultimately lead to the a Sell Order which would then force you to sell your home to pay the debt.

So although they cannot come and take your house by repossession...

[GregRickshaw]

No stupid questions.

HMRC can't take your home, they can put a charge on it ultimately if it came to that. Just don't think about getting a 2nd mortgage to pay the debt I know you know this but if you secure your home etc......

It really doesn't matter about Limelight for...

[GregRickshaw]

Seems even declaring your DOTAS SRN number etc., on your tax return isn't a guarantee of no loan charge. Just read an article by Graham Webberg on Linked in about this.

Search on linkedIn for Graham and his post 'DOTAS trumps the loan charge? Probably not.'

[GregRickshaw]

That would be in line with my thinking on this one, more MSCP and MSC than loan charge territory....

[GregRickshaw]

If the mods allow I can recommend a very good tax specialists.

Again I'm sure on this (It certainly applied to me with Garraway declaring the DOTAS saved me from the loan charge) but stand to be corrected if it does not apply to all schemes though.

Therefore if you declared...

[GregRickshaw]

Good point....

[GregRickshaw]

So many things have already been said but as always it comes down to your situation and your company. You mention your company is dormant. Do you have company money in there to pay on account? If so then remember at the moment this is a company debt. PoA if you can is the best of a very bad situation,...

[GregRickshaw]

pony...