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Recent content by CA100

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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    You don't need to submit evidence at this stage, and indeed it's not particularly advisable to do so. Keep it short and sweet. You need to say you appeal, you want the charges stood over pending outcome and briefly state your grounds for appeal. You do not need to explain your grounds in much...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    17/18 tax year is allowed for HMRC. The NI claim covers all years from 17/18 in one amount. You've got until 28 December to get one appeal in. It's 30 days from the date on the HMRC letter. When you received it is irrelevant. Boox do have a template you can use, or at least they've sent me...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    Completely agree on the ambiguity from HMRC! The HMRC guide on debt transfers states: "Step 8: Submission to Debt Transfer Team for consideration of issue of Transfer Notices Submit the case to the Debt Transfer team for consideration of the transfer of debt. Include: A declaration...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    Are you taking it that because the categories are listed in a certain order the priority sequence follows that order? I don't see that explicitly confirmed anywhere? "The legislation requires that before a debt can be transferred to a person within the third category above, it must be...
  5. C

    Churchill Knight & Boox clients being investigated as Managed Service Companies

    Would you happen to have a reference for this rule?
  6. C

    Churchill Knight & Boox clients being investigated as Managed Service Companies

    One thing to note on the transfer of debt - If your business doesn't have sufficient assets to pay and you can't arrange a repayment plan with HMRC to pay from future business earnings, the debt will transfer. It is at HMRC's discretion what proportion of debt transfers to the MSCP and what...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    However, Dealornodeal raises a good point - as interest rates rise the (potential) cost of not making a payment on account also rises. It may reach a tipping point of making more financial sense to pay on account.
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    This is based on stock market investing. It's based on personal money as my business is closed, so a different situation from those looking at paying from business account. Although I guess may be possible to invest business funds in stock market?
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    I very much doubt that's possible. I would also just reiterate that the interest charged is about 3 - 3.5% (depending on year). You can earn more than that by investing the money, so if you have that money it generally makes more financial sense to invest it. I appreciate a previous poster's...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    For what it's worth the advice I received was not to submit evidence until required to do so, i.e. don't submit any during the appeal stage. I know the advice from the "experts" has been pretty contradictory so far as this is a new situation and everyone is feeling their way. However, I think...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    The deadline for corporation tax claims is actually 4 years after the end of your company's financial year. That's if HMRC allow them, because the MSC guidance doesn't mention double tax avoidance due to corporation tax at all. For many companies, this means this deadline has passed already...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    I'm in something like the same position. My personal income was less than 50% because of the amount paid into pension. There's no clarity on whether employer pension contributions are being classified by HMRC as income or benefit in this context, which I don't believe they would be in other...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    I know what you mean but potentially it makes such a huge difference to the amount eventually liable (if it goes against us) that I think it's worth it. I had originally told Boox they could submit my claim for me, but as I've now joined the Kirk group I might go that route instead, although...
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    Churchill Knight & Boox clients being investigated as Managed Service Companies

    Boox have written today to say they are charging £90 to submit conditional claims against overpayment, which by the way is a charge they completely failed to mention in their original communication. Does anyone remember what David Kirk intends to charge for conditional claims?
  15. C

    Churchill Knight & Boox clients being investigated as Managed Service Companies

    You can't settle now, HMRC won't allow it. Interest charged varies year by year (there is a table on the government website), but generally is around the 3% - 3.5% mark. Therefore if you have your money in stocks and shares where you can typically expect a higher return than 3.5%, you are...
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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
    2. Social / Events
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