Open enquiry for Section9A 2015-16...what is best option for 2016-17 SA declaration

[simran]

I was with scheme in 2015-16 2016-17 and 2017-18 through a very new scheme just in Radar of HMRC.

I have an open enquiry for 2015-16 and I need to file my SA 2016-17 where I also had loan amount.

What is the best option:

- declare loan amount in 2016-17? this will immediately generate huge tax bill (around 60K) which i simple cant pay in short period

-or Can I mention in SA2016-17 that I have other in come with will be part of settlement route under CLSO2? As this will buy me sufficient time.

Does anyone using option 2 is worth taking risk.

[eek]

I was with scheme in 2015-16 2016-17 and 2017-18 through a very new scheme just in Radar of HMRC.

I have an open enquiry for 2015-16 and I need to file my SA 2016-17 where I also had loan amount.

What is the best option:

- declare loan amount in 2016-17? this will immediately generate huge tax bill (around 60K) which i simple cant pay in short period

-or Can I mention in SA2016-17 that I have other in come with will be part of settlement route under CLSO2? As this will buy me sufficient time.

Does anyone using option 2 is worth taking risk.

We are still in the Christmas holidays and you still have 4 weeks to do your self assessment for 2016/17.

So take a break and get some proper advice next week when the country starts to return from their holidays...

[simran]

I was with scheme in 2015-16 2016-17 and 2017-18 through a very new scheme just in Radar of HMRC.

I have an open enquiry for 2015-16 and I need to file my SA 2016-17 where I also had loan amount.

What is the best option:

- declare loan amount in 2016-17? this will immediately generate huge tax bill (around 60K) which i simple cant pay in short period

-or Can I mention in SA2016-17 that I have other in come with will be part of settlement route under CLSO2? As this will buy me sufficient time.

Does anyone using option 2 is worth taking risk.

I am planning to go with CLSO2 can someone please reply I am confused, should disclose loan in 2016-17 or atleast mention that i am entering into CLSO2 in my Self assessment

[webberg]

I am planning to go with CLSO2 can someone please reply I am confused, should disclose loan in 2016-17 or atleast mention that i am entering into CLSO2 in my Self assessment

Go and get some professional advice rather than rely upon an anonymous person behind a forum name.