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The answer is NO. The BIK is due to the loans. If they say they are not loans there can be no BIK.
I had one APN figure reduced because the APN dept realised it was an error. Although they didn't bother on 2 other APNs - which just about sums up the incompetence of these people. However, the...
I had a 2005/06 re-assessment. However I never got an APN for it (only for 3 other open years). I asked for a settlement figure just to see what it would be and hey-presto the 2005/06 reappears. They have previously told me it's a Section 9A. It was issued over 12 months from return being...
Is this IHT issue confined to the open enquiry years only?
I look forward to seeing a new box on my tax return next year for "Loans from parents, grandparents etc. that you never paid back"
The benefit in kind is a figure based on the benefit of have zero % loan. It's not actual income.
So the 15,000 BiK is because of the loan. They then turn round and say it's not a loan, it's income. If it's not a loan there can be no BiK.
Therefore, it can't reappear on the re-assessment. My...
Something like, for example
On the left-hand side
Salary 10,000
Benefit in Kind 15,000
On the right-hand side
Salary 10,000
Benefit in Kind 15,000
Others 50,000
So the Benefit in Kind on the left-hand side,which was due to the the loans...
Had a APN reduced by £5k - this was due to them including the benefit in kind on the re-assessment.
But they only did this for one out of 3 APNs. Why would they do this if the calculations were exactly the same. Bunch of idiots.
There would have been no chance of getting that back if i'd settled.
Sent a letter to HMRC**ts beginning of April - still no reply.
Had a go on their "Where's my reply" page which is saying if you aint got a reply before 12th June don't bother asking - that's 10 weeks.
Bunch of incompetent tossers
How excited was i when I saw that on letter received... only to see re-re-assessment on the next page with a new value (good news is that it's £5,000 lower)
Fair play, they do say that they were sorry for any inconvenience caused - c**ts
The re-assessment is due to the original assessment...