Yes, correct. I'm just considering the 4% (then 3.5%) as a penalty, cause I just assume I can get a close to BOE interest somewhere else like ISA, so that's not really a lose.
It's actually a neat trick HMRC uses I heard (not sure it's true though) when multiple type of taxes are involved....
imworried
Nervous Newbie
Last Activity: 30 June 2026, 17:08
Joined: 29 June 2026
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The person above said that because they just complied and paid HMRC, they agreed to consider reasonable care and waive the penalties. Either way, BOE + 4% I'd say it's quite a penalty. We're looking at 20% over 5 years....Leave a comment:
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What I don't understand is: How can contractor be liable for penalties interest if there's no way for a contractor to figure out if an accountancy firm is a MSCP or not, as from my understanding it's about the internal business model of said accountancy firm, that you have no knowledge or control. Also,...Leave a comment:
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They shouted that they will deny offset on tax already paid? that can't look good in front of the judge. Is that recorded anywhere do you know? I'd love to watch...Leave a comment:
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You haven't checked on CH that the company is dissolved for all those years????
But how come it be different? Sorry for stupid question maybe I don't quite understand the MSC legislation, but MSC stuff depends on internal business model of the MSC provider, like, you can think...Leave a comment:
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yes, sorry about the confusion.
Also, it was not a tax loss insurance, it was just a standard Professional Indemnity / Public Liability insurance (underwritten by Hiscox), I just double checked, wasn't for tax, my bad. I also independently bought Tax investigation insurance from QDOS. The second...Last edited by imworried; 29 June 2026, 14:32.Leave a comment:
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Are the hearings recorded anywhere? transcripts available? ThanksLeave a comment:
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Reading all of that, I'm so worried. I wasn't a client of CK or Boox. But I have used Crunch for a few years, aren't they doing the same? They created my company and provide the accounting software via their website. Well, it was me who found the client, handled the banking, payment to myself etc. But...Leave a comment:
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