Reply to: Opted in for CLSO2- but have not heard back apart from auto reply

[Lonerous]

Has anyone who registered interest to settle loans by 31st May actually received a settlement figure? I registered intent a few days before the deadline and still await mine, having first submitted all loan and payment details to HMRC (acknowledged by return of letter) in August 2017.

Also, what happens if HMRC dotn't get round to reviewing your case by April 2019? Does the 2019LC then kick in?

[WTFH]

Thanks I am aware of WTT/BIG Group and Phil

OK, so you don’t want to take the advice given by many on here, what advice would you like us to give you?

[regron]

But it sounds like you provided the bank statements to HMRC.

Many peoples' scheme use will go back 10+ years, and it's unlikely any paperwork will be available. I'm wondering how HMRC will estimate the tax due in this case. I've heard they can use P11Ds or tax returns, but I've not seen any evidence of this.

No, I provided them nothing. They had all my self assessments to go on/p11d’s . I just double checked the figures they used against my bank statements I got hold of.

[Dharmin]

The best advice I think you can get right now, is for you to speak to a professional tax advisor. There are two of those very people active on this forum and it isn't difficult to find them (advertising not permitted). Both will offer a free consultation on the phone where you can outline your own personal circumstances to which the advisors will let you know your options. Remember though, they won't give you the answer, they will offer you your options to which you will then have to make a personal informed decision.

Thanks I am aware of WTT/BIG Group and Phil

[ChimpMaster]

I provided them nothing. I just checked the figures they sent to me were what I had received. I managed to get my old bank statements going back to the year I started. I let them do all the work, then questioned them on a couple of occasions when they had them wrong. 2 separate calculations by 2 different HMRC officers using the same information were out by £100k !!!!!!!

But it sounds like you provided the bank statements to HMRC.

Many peoples' scheme use will go back 10+ years, and it's unlikely any paperwork will be available. I'm wondering how HMRC will estimate the tax due in this case. I've heard they can use P11Ds or tax returns, but I've not seen any evidence of this.

[regron]

I am not sure what to do :
1. Go for the settlement (direct with HMRC), have to pay big amount, wiping out most of my savings for kids (twins) University Tuition fees.
2. Wait for the miracle that the law is changed and we don't end up paying anything.

Lots of banging going on Twitter - #HMRCHumanCost , not sure if that would force the laws to change and we are saved.

In Settlement , the worst is we'll end up paying more Tax compared to paying tax if were on a permanent role.

Am confused...

Regards
Dharmin

The best advice I think you can get right now, is for you to speak to a professional tax advisor. There are two of those very people active on this forum and it isn't difficult to find them (advertising not permitted). Both will offer a free consultation on the phone where you can outline your own personal circumstances to which the advisors will let you know your options. Remember though, they won't give you the answer, they will offer you your options to which you will then have to make a personal informed decision.

[Dharmin]

I am not sure what to do :
1. Go for the settlement (direct with HMRC), have to pay big amount, wiping out most of my savings for kids (twins) University Tuition fees.
2. Wait for the miracle that the law is changed and we don't end up paying anything.

Lots of banging going on Twitter - #HMRCHumanCost , not sure if that would force the laws to change and we are saved.

In Settlement , the worst is we'll end up paying more Tax compared to paying tax if were on a permanent role.

Am confused...

Regards
Dharmin

[InNZ]

I got an email with the spreadsheet attached last week.

Annoyingly they couldn't even be bothered to get my name right on the email.

Does make me wonder how they can deal with the complicated stuff if the incompetant fools can't even get something basic, like a person's name, correct.

[RickG]

I registered interest by email and heard nothing, except an auto response. I waited a week.

Then I phoned and registered interest and told someone would be in touch. No email address was taken. I waited a few days and heard nothing.

I then phoned again and registered interest and was told I'd be sent a settlement pack straight after the phone call, which I did receive. I returned this immediately (approx 4 weeks ago now) and have since heard nothing.

[Lonerous]

Experiences since registering interest to settle with HMRC

I’m interested to know people’s experiences since registering their interest to settle with HMRC. It might be useful for others in a similar position.

I’ll share mine by way of opening the thread.

BACKGROUND

• HMRC sent me a letter about nine months ago asking for my income for 2012/13 and 2013/14 as they suspected I was using a tax avoidance scheme. In this case, it was Darwin/IQ Contracts.

• Through my accountant, I sent back details of all loan payments made, using bank statements as supporting evidence. HMRC replied in August 2017, confirming they had received the documentation along with a case reference number. This was the last communication I had from them.

REGISTERING INTEREST

• I phoned HMRC a few days prior to the May 31st deadline (as was), quoting my existing case reference number. I asked the member of staff to register my interest to settle.
• While on the phone, I asked how long it would be before I was issued a settlement figure. He couldn’t advise.
• I then asked if interest charges would be stopped at the point interest was expressed in settling. He said no. This would only happen once the final figure was issued. However, he did say that an interim payment could be made through a personal tax portal (sorry, I don’t have this info to hand at present) that would reduce potential accrued interest. As I/HMRC don’t know the exactly how much is owed, I could estimate the figure. If I end up paying too much, any overpayment would be reimbursed.
• To date, I haven’t made any payment.

SINCE THE PHONE CALL

• I haven’t received any correspondence from HMRC to confirm I have expressed interest in settling. This is a little worrying; I imagined this would come through fairly quickly.


What have other people’s experiences been since registering their interest to settle? Have you received correspondence and/or a settlement figure? If so, was it close to the figure you were expecting?

[regron]

What did you have to provide to HMRC to get these figures?

I'm wondering what will happen if we have none of the very old documentation and the scheme provider is long gone.

I provided them nothing. I just checked the figures they sent to me were what I had received. I managed to get my old bank statements going back to the year I started. I let them do all the work, then questioned them on a couple of occasions when they had them wrong. 2 separate calculations by 2 different HMRC officers using the same information were out by £100k !!!!!!!

[ChimpMaster]

Final settlement figures.

What did you have to provide to HMRC to get these figures?

I'm wondering what will happen if we have none of the very old documentation and the scheme provider is long gone.

[regron]

What was the response? A settlement form or request for information in a spreadsheet?

Final settlement figures.

[jazzyg]

Received mine last week, after submitting back in January, so almost 6 months !

What was the response? A settlement form or request for information in a spreadsheet?

[regron]

Any one else in the same boat? What sort of time frame are we looking at?

Received mine last week, after submitting back in January, so almost 6 months !