Reply to: HMRC settlement Deadlines/delays and the LC

[starstruck]

Any chance of sharing this ? even privately would be appreciated

Look at SaleosC on twitter

[webberg]

Any chance of sharing this ? even privately would be appreciated

As I said, I have no inside knowledge and therefore nothing to share.

[smckeown]

".

I'm aware this afternoon that some advisers and others are claiming inside knowledge as to timing and content. I hope that their sources are correct.

Any chance of sharing this ? even privately would be appreciated

[BrilloPad]

I hope to God I'm wrong but I suspect that now Boris and his chums have a resounding majority and won't need the contractor community's votes again for another 5 years, the Tories will not give a stuff about the report and the LC will forge ahead as planned.

Sorry to be pessimistic but I think the Tories believe that have the mandate to do what they like in all aspects of Government

Actually I think you are optimistic. HMRC run the country. There was never any chance of change. I expect people will be given more time to pay. Or some other minor concessions that add up to little. I want to be wrong.

[Speccy]

Thanks for voting us back in

I hope to God I'm wrong but I suspect that now Boris and his chums have a resounding majority and won't need the contractor community's votes again for another 5 years, the Tories will not give a stuff about the report and the LC will forge ahead as planned.

Sorry to be pessimistic but I think the Tories believe that have the mandate to do what they like in all aspects of Government

[BrilloPad]

The Saj has the report.

[BrownOwl]

Although I gave personal and written evidence to Sir Amyas, he has not seen fit to let me know when the report is/was finished nor when/if the report to going to Government.

If others are reporting that the submission of the report is imminent and that changes are recommended, then they know more than I do.

Be aware that the Government asked for the report. They made no commitment to publishing it and no commitment to acting upon it. They could say "yes we have the report, we will make no changes, carry on". They could say, "here it is, we accept all the changes and will make more as well up to and including abolition".

I'm aware this afternoon that some advisers and others are claiming inside knowledge as to timing and content. I hope that their sources are correct.

The terms of reference did say "The Review’s conclusions will be published in a report."

[webberg]

Although I gave personal and written evidence to Sir Amyas, he has not seen fit to let me know when the report is/was finished nor when/if the report to going to Government.

If others are reporting that the submission of the report is imminent and that changes are recommended, then they know more than I do.

Be aware that the Government asked for the report. They made no commitment to publishing it and no commitment to acting upon it. They could say "yes we have the report, we will make no changes, carry on". They could say, "here it is, we accept all the changes and will make more as well up to and including abolition".

I'm aware this afternoon that some advisers and others are claiming inside knowledge as to timing and content. I hope that their sources are correct.

[BrilloPad]

That’s what I had heard, and then it depends how long those the changes can be implemented, hopefully at the very least this will make HMRC suspend, and officially advise on SA requirements as Jan31 is coming round very soon....

I expect the changes to offer no meaningful help to those affected. I want to be wrong.

[Iter]

It will be this week. Changes will be recommended.

That’s what I had heard, and then it depends how long those the changes can be implemented, hopefully at the very least this will make HMRC suspend, and officially advise on SA requirements as Jan31 is coming round very soon....

[BrilloPad]

Any idea when the results of the review will be released, I’ve heard talk that this was due anytime now. With this be made public or just to a select few?

It will be this week. Changes will be recommended.

[Iter]

Sorry.

Trying to be quick and simple and fingers could not keep up with brain.

Any idea when the results of the review will be released, I’ve heard talk that this was due anytime now. With this be made public or just to a select few?

[webberg]

Yes, that would make a big difference.

Sorry.

Trying to be quick and simple and fingers could not keep up with brain.

[Iliketax]

Nothing. I assumed (but did not say) that the LC arises but is not paid

Yes, that would make a big difference.

[webberg]

Can you explain why the bit in bold is right?

If you've paid tax under the loan charge equal to the tax due under the open years (and, as you say, the "financial cost of a settlement and the likely loan charge demands are roughly the same") why would interest continue to accrue after the loan charge tax has been paid?

I completely understand that if not all the loan charge tax is actually paid (or if your comment that the "financial cost of a settlement and the likely loan charge demands are roughly the same" is not right) then interest would continue on the shortfall. But not otherwise.

What am I missing?

Nothing. I assumed (but did not say) that the LC arises but is not paid.

Perhaps not collected because of a JR and some form of relief order.