If you have to negotiate with HMRC, make sure you do it on a "Without Prejudice" basis to ensure that they can't use the negotiation documents in a court case. It would be very easy to get you to admit liability in a document as part of negotiation then drop out and claim every bean possible.
If you're not sure how to negotiate "without prejudice" then it's a fair indicator that you probably need professional advice.
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It's worth a try, though I'm not sure HMRC have the powers to compromise? Maybe the best you could manage is payments spread over the rest of your working life?Leave a comment:
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Negotiating with HMRC
Some of those affected by BN66 want to explore if there is any chance of negotiating a reduced settlement with HMRC.
In addition to outstanding tax/nic, there is also accrued interest for late payment. This ranges from approx 10% for tax year 2007/8 up to 50% for tax year 2001/2.
Personally I can't see HMRC being in any mood for compromise after they won the latest round in the Court of Appeal. Montpelier are taking the case to the Supreme Court, and are therefore not going to want to start trying to negotiate with HMRC.
Two questions:
1) does anyone think it's worth trying?
2) if so, would it be better for people to approach HMRC individually or collectively through a 3rd party?
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