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HMRC webinar on disguised remuneration - 1 May 2018

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    HMRC webinar on disguised remuneration - 1 May 2018

    If you want to find out more about DR, LC19 and any other initials you fancy then you can sign up to HMRC's webinar on DR here: https://register.gotowebinar.com/reg...65948348881923

    They say:

    Originally posted by HMRC
    Talking Points - 01/05/18 - Disguised Remuneration: Addressing common issues

    This digital meeting will address some of the common issues that have been raised relating to Disguised Remuneration and the loan charge, including settlement with HMRC
    From memory, once you've registered you can send them questions in advance. Or you can type questions for them live in the webinar. If you send the questions in advance, you'll have a better chance of getting a proper rehearsed answer rather than someone making up three quarters of an answer on the hoof.

    I'm not from HMRC and don't advise contractors.

    #2
    Originally posted by Iliketax View Post
    If you want to find out more about DR, LC19 and any other initials you fancy then you can sign up to HMRC's webinar on DR here: https://register.gotowebinar.com/reg...65948348881923

    They say:



    From memory, once you've registered you can send them questions in advance. Or you can type questions for them live in the webinar. If you send the questions in advance, you'll have a better chance of getting a proper rehearsed answer rather than someone making up three quarters of an answer on the hoof.

    I'm not from HMRC and don't advise contractors.
    Well, this could be interesting!
    Thanks for posting, I’ll certainly be taking part.

    Comment


      #3
      Just a reminder that this is happening tomorrow.

      Comment


        #4
        Well that’s an hour of my life I won’t be getting back.
        As perhaps expected it was very controlled and didn’t offer any useful insights.

        Comment


          #5
          Originally posted by phil@dswtres View Post
          Well that’s an hour of my life I won’t be getting back.
          As perhaps expected it was very controlled and didn’t offer any useful insights.
          Not really a surprise there then.

          Comment


            #6
            Originally posted by phil@dswtres View Post
            Well that’s an hour of my life I won’t be getting back.
            As perhaps expected it was very controlled and didn’t offer any useful insights.
            Definitely, an hour lost.
            The only thing I got was you have to have agreed a settlement by the 5 April 2019.
            They also stated, as far as I could tell, that as long as they have your figures before Sept 2018 then that is achievable.
            Would be interested to know what happens if they drag their feet and therefore you miss the deadline?

            Comment


              #7
              Originally posted by phil@dswtres View Post
              Well that’s an hour of my life I won’t be getting back.
              As perhaps expected it was very controlled and didn’t offer any useful insights.
              Yep. But some interesting bits from my perspective:

              1. Making a pension contribution is fine for the April 2019 loan charge if you have closed years (i.e. reduces the 2018/19 tax due). If you have open years, HMRC says as less tax actually paid in 2018/19, the double tax relieving rule won't relieve the tax due for the earlier years. They did not say this, but this effectively means you don't get tax relief for pension contributions to the extent that there are open years.

              2. It was clear that HMRC knew dodgy schemes were being touted to get around the charge. But they were very clear that they did not think they worked.

              3. Requirement to correct can be an issue. They didn't say when. My guess is for IHT if you don't settle and where you did "things" in the past to get the loan waived. But who knows.

              4. HMRC think settlement is normally better than the April 2019 loan charge.

              5. There was a bit more detail on the April 2019 loan charge where there was a para 59 agreement. I was surfing the internet when they said that bit so I didn't focus on the details. That's probably not relevant to most contractors.

              6. The April 2019 loan charge does not get rid of any open years. Only a settlement will.

              7. Time to pay is available on a settlement and they talked about some long time scale based on personal circumstance.

              Comment


                #8
                Originally posted by Iliketax View Post
                Yep. But some interesting bits from my perspective:

                1. Making a pension contribution is fine for the April 2019 loan charge if you have closed years (i.e. reduces the 2018/19 tax due). If you have open years, HMRC says as less tax actually paid in 2018/19, the double tax relieving rule won't relieve the tax due for the earlier years. They did not say this, but this effectively means you don't get tax relief for pension contributions to the extent that there are open years.

                2. It was clear that HMRC knew dodgy schemes were being touted to get around the charge. But they were very clear that they did not think they worked.

                3. Requirement to correct can be an issue. They didn't say when. My guess is for IHT if you don't settle and where you did "things" in the past to get the loan waived. But who knows.

                4. HMRC think settlement is normally better than the April 2019 loan charge.

                5. There was a bit more detail on the April 2019 loan charge where there was a para 59 agreement. I was surfing the internet when they said that bit so I didn't focus on the details. That's probably not relevant to most contractors.

                6. The April 2019 loan charge does not get rid of any open years. Only a settlement will.

                7. Time to pay is available on a settlement and they talked about some long time scale based on personal circumstance.
                I need about 10 years. Think they’ll buy that? I have young children.

                Comment


                  #9
                  Tank itax

                  Tanksyou me26 and phil esureing itax gives view. clerly just hepful and kindly like HRMC no otter reason

                  i() i aslo surfing web like itax when HRMC explain but itax tustworty | so listen EXEPRT / S2123Z ect

                  (ii) ita x catarogeraly NOT HRMC AND NOT ASDIVE cotanractar AND NO SUGARCOTS.
                  said MANYS time so TRUE/ safe purses

                  (iii(HRMC kindly CSLO2 ONLY OPTOIN. ALL CLEAR HRMC do NOT think soloutin worked
                  (iiii) rebemer CSLO2 dedline may MUST RUSH/

                  (iiiii) kindly CLS02. nasty 2019 loncharge ONLY open/ paytime beter CLS02.

                  ****DICSLAMER i aslo NOT HRMC or asdive cotanractors/ i wait for kindly HRMC CSL02 nubmers
                  ONLY CETRAINTY NO FEAR NO DOUBT CS0L2 ONLY WAY
                  REPAT ONLY WAY.

                  Comment


                    #10
                    Originally posted by Runster View Post
                    I need about 10 years. Think they’ll buy that? I have young children.
                    He did not know the one in the newspapers which supposedly was 31 years.
                    But he did know of someone who's ttp was 18 years.
                    So if you can persuade them that is all you can pay then it is possible.

                    Comment

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