HMRC Repayment

[BrilloPad]

HMRC like to terrify people 1st, if he has equity in his house or any other equity they won’t budge much and expect you to sell your 1st born child.

Lots of contractors will end up in same boat as the weeks turn into many months on the bench and they need to pay the mortgages and school fees mount up because of New IR35 rules killing the market !!


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This is true. Though according to the rules people should be offered more leeway - but they choose not to. Which is why an adviser can help.

[GhostofTarbera]

HMRC might settle for to be paid over a longer timescale. Recently these timescales have been getting longer.

It often helps to have an adviser contact HMRC.

HMRC like to terrify people 1st, if he has equity in his house or any other equity they won’t budge much and expect you to sell your 1st born child.

Lots of contractors will end up in same boat as the weeks turn into many months on the bench and they need to pay the mortgages and school fees mount up because of New IR35 rules killing the market !!


Sent from my iPhone using Contractor UK Forum

[BrilloPad]

HMRC might settle for to be paid over a longer timescale. Recently these timescales have been getting longer.

It often helps to have an adviser contact HMRC.

[WTFH]

Hi,
I wonder if someone could offer advice on this: I was doing contract work (my first time) via an LLC from October 2017 until April 2019. HMRC are now asking me to pay corporation tax that remains unpaid to the tune of £7k. The accounting firm that I had been using did not mention this to me, although I appreciate that I ought to have known about this fact.

Questions:

1) Is it possible for HMRC to deduct the monthly payment from my Universal credit that I now receive?
2) Is the accounting firm in anyway accountable for not having looked into this payment or alerted me regarding nonpayment of this amount during the time that I had employed them?
3) Do the HMRC "settle" for a lower amount, as private creditors do?

Thanks in advance to any helpful replies.

Much appreciated!

Did you take all the money out of the company without checking?

Answers:
1. Not sure
2. It's not the accountant's fault
3. HMRC will want their money.

[Sheetal]

Hi,
I wonder if someone could offer advice on this: I was doing contract work (my first time) via an LLC from October 2017 until April 2019. HMRC are now asking me to pay corporation tax that remains unpaid to the tune of £7k. The accounting firm that I had been using did not mention this to me, although I appreciate that I ought to have known about this fact.

Questions:

1) Is it possible for HMRC to deduct the monthly payment from my Universal credit that I now receive?
2) Is the accounting firm in anyway accountable for not having looked into this payment or alerted me regarding nonpayment of this amount during the time that I had employed them?
3) Do the HMRC "settle" for a lower amount, as private creditors do?

Thanks in advance to any helpful replies.

Much appreciated!