Originally posted by sbar99920
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Reply to: EBT and other schemes
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Previously on "EBT and other schemes"
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EBT and other schemes
Hi there,
I was with Twentyplus on an EBT until April 2015 when they became non-compliant, at that stage I switched to a compliant company. From April 2016 I have a limited company solution. I received a re-assessment from HMRC for 2011-12 and just received one for 2012-13. I have a postponement for 2011-12 and have my appeal letter in for 2012-13. I am assuming I will get reassessments for years to April 2016 when I have the company solution for.
Just wondering about my next steps. Of course I paid umbrella companies to manage my scheme so at the moment the HMRC is asking for a lot of tax to be paid retrospectively. Should I start to negotiate with HMRC now or wait until 2019? I don't have the money, along with most people I did not believe that HMRC could change tax laws and make those laws retrospective. What happens in 2019? If I leave as is then they make me pay for all re-assessed years at that time no matter what?
What happens if you cannot pay? Do HMRC make arrangements to pay monthly etc?
For all of the period I worked in Ireland but paid my tax in the UK. So I had a lot of expenses, travel to work etc, that would not have been claimed for as I was in an EBT solution.
Any advice/direction would be great.
thanks in advanceTags: None
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