Originally posted by mav2010
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I'm just giving you information on how HMRC see the situation.
Bear in mind that I have a commercial interest in people not settling and instead seeking resolution via other means so my view is biased. That said , any competent adviser would help you (for a fee) settle, if that is what you want.
The equation is roughly:
Can I cope with the stress of an enquiry and perhaps still have to pay the tax eventually but balanced by the chance of a lower tax payment?
There are a lot of subjective points here.
How much stress can you deal with?
Can you pay the tax now?
Can you live with potentially paying a penalty even if you think you have done nothing untoward?
Is there a price you'd pay for certainty?
Even if you settle is that the end? What about the loans which may still exist?
Do you believe an adviser can get a lower value eventually?
Do you think you can cope with negotiating but not litigating?
All sorts of things an adviser cannot judge.
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