Reply to: How Soon Do HMRC Want The Money

[MKCIARN]

I was expecting some account details so I can set up a DD - How else am I to pay?

My acceptance letter included details of how to set up payments with a link to a gov.uk page? The account details are not explicit in the letter but the direct debit payment page is detailed in there, have another look.

Panders[/QUOTE]

No DD page on mine. I signed the settlement letter accepting their payment terms in which it says “I expect an offer of £xxxxxx will be acceptable to HMRC”. “If the commissioner accepts this offer the contract will become binding”. That was 5 weeks ago and still nothing.

I take it this isn’t the acceptance letter you got?

[Iter]

There is link to ‘settlement’ tax payments in the tax section. This is the HMRC Shipley account. I made some payments here, before a payslip arrived which then gave the details. I believe the main thing is putting the reference number on the payments you make.

[panders]

I was expecting some account details so I can set up a DD - How else am I to pay?[/QUOTE]

My acceptance letter included details of how to set up payments with a link to a gov.uk page? The account details are not explicit in the letter but the direct debit payment page is detailed in there, have another look.

Panders

[MKCIARN]

Go and read your contract. It probable has a start and/or payment date.

I have - It says pay £X amount within 30 days of accepting the offer and £x amount before the last day of the month for 103 months.

I signed and sent back the letter April 22nd but haven't heard anything back.

I was expecting some account details so I can set up a DD - How else am I to pay?

[webberg]

I sent my signed forms back nearly two months ago. HMRC have agreed to instalments. Still waiting to hear when the first payment is due.

Go and read your contract. It probable has a start and/or payment date.

[Lonerous]

Having agreed to settled and sent all the necessary stuff to them by the deadline, just wondering if anyone has any idea when HMRC are going to want the dosh?

I sent my signed forms back nearly two months ago. HMRC have agreed to instalments. Still waiting to hear when the first payment is due.

[InNZ]

Once you sign the settlement agreement they will send their acceptance letter, at that point you will then need to pay. Unless you agreed on TTP you will have to pay the sum in one go as per each agreement ( if ltd and personal liability is involved the payments may be broken down separately).
If you are at the point of settling then you should know by now how your payment is calculated? I’m surprised if there is no interest?

Thanks Iter, I will just wait for their acceptance letter.
I was also surprised by the no interest. Surprised but very delighted (which is kind of why I want to pay it before they change their minds haha)

[Iter]

Once you sign the settlement agreement they will send their acceptance letter, at that point you will then need to pay. Unless you agreed on TTP you will have to pay the sum in one go as per each agreement ( if ltd and personal liability is involved the payments may be broken down separately).
If you are at the point of settling then you should know by now how your payment is calculated? I’m surprised if there is no interest?

[blackandblue]

Do HMRC send out an invoice or something saying where and how to pay? I wouldn't have a clue where to pay.
FYI - paying it all in one lump, and I didn't have to pay interest.

When the settlement letter is sent and you agree to it, there will be options provided on how to pay. And I was told that there is one option to pay online in lump sum.

[Iter]

You just need to ensure the reference number is added to payment

[Iter]

Following the links on gov site settlement payments can be made to thier Shipley account, however they do send out a payment form ......

[InNZ]

Do HMRC send out an invoice or something saying where and how to pay? I wouldn't have a clue where to pay.
FYI - paying it all in one lump, and I didn't have to pay interest.

[blackandblue]

Yes if you settle under the recent terms I believe they only calculated interest upto Sep 18, in my experience any delay caused by them should mean you don’t get penalised.

Spoke to HMRC today and phone was answered pretty quickly. The lady on the other side was very helpful and polite. I told her that I want to record this call and she happily said that "yes, please feel free to so do as this call is anyway being recorded".

Spoke to her for about 20 minutes and she answered each query very clearly and exercised caution on the points she was not 100% clear about. One thing which I learnt today that once offer is made by HMRC, you have upto 30 days from the date of sending to either accept or reject it. Once accepted then you will get upto around 3 weeks to make the payment. So roughly around 50 days to pay once HMRC sends the letter but please note upto in the statement.

End of the day, I do get a feeling that many of the people working at HMRC are quite good and helpful. Although different peoples in the group might have had varying experience with HMRC but in last 3 to 4 months my opinion about HMRC has changed from negative to neutral/positive. But hey, that's my thought based on my recent experiences with them!!

[Iter]

Yes if you settle under the recent terms I believe they only calculated interest upto Sep 18, in my experience any delay caused by them should mean you don’t get penalised.

[blackandblue]

My understanding is
1.) You don't owe any interest on the amount to pay if you have sent your willingness to settle by 30th Sept 2018 (which I hear now is extended till 5th April 2019).

2.) Once you have received the settlement, you have 30 days to pay in full and no further interest will be charged. However in case of TTP, interest will be charged at 4.2%. I am not 100% sure if it is the date you receive the settlement (and you agree on figures) or it is from the date you sign it, because you are agreeing(on this date) to settle.

I received my settlement few weeks back and i raised a question on the interest calculations for one of the tax years. I have had acknowledgement that my question has been passed to a senior member but it has nearly been a month, I have had no response back. I have called HMRC few times but only get assurances that it is being looked into but no communication. My only concern being that no further interest will be charged on the pending amount as it is not being delayed from my side.

What do experts on this forum think?
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Beaten black and blue by HMRC

Thanks Iter for point out. I was not clear enough.

Sorry, what I meant in 1 is that no interest is to be paid after 30 Sept 2018 if the settlement figures are sent to HMRC and if you are waiting for them to come back with final calculations and you wish to accept the offer to settle. Any interest accrued till 30th Sept 2018 from the previous years is to be paid.