Ostrich

[lowpaidworker]

Hi all

I probably qualify as the most ostrich like person here. I was a member of Montpelier’s scheme for 2008/9, HMRC told me it was being looked into in 2012 and I’ve only just got around doing anything about it. I’ve missed the boat on registering for settlement in April 2018. I have the July letter from HMRC about telling them about my outstanding loans and paying the loan charge.

I’m thinking of doing what they are asking for, i.e. filling in the online form to report my disguised remuneration. (I haven’t got all the information I need, I’ll have to cobble it together somehow but I think making a report before 1 Oct and then making any corrections later after getting information from Montpelier is better than missing the deadline.)

I’m wondering about joining LCAG and their JR. Any views? And I presume I should still report to HMRC?

Also wondering about approximate liability. Is it right that HMRC will calculate tax and NICs on the loan plus any other income for this year (and add interest and penalties if appropriate) and that is all? (Asking because I’ve read here about some IHT charge).

Thanks for your thoughts.

Yes join LCAG 100%

[BrilloPad]

I doubt you are the last. I think there are still a few with mental health issues who are still not facing up to reality.

I think you need an adviser.

I have PMed you.

[Ark]

Hi all

I probably qualify as the most ostrich like person here. I was a member of Montpelier’s scheme for 2008/9, HMRC told me it was being looked into in 2012 and I’ve only just got around doing anything about it. I’ve missed the boat on registering for settlement in April 2018. I have the July letter from HMRC about telling them about my outstanding loans and paying the loan charge.

I’m thinking of doing what they are asking for, i.e. filling in the online form to report my disguised remuneration. (I haven’t got all the information I need, I’ll have to cobble it together somehow but I think making a report before 1 Oct and then making any corrections later after getting information from Montpelier is better than missing the deadline.)

I’m wondering about joining LCAG and their JR. Any views? And I presume I should still report to HMRC?

Also wondering about approximate liability. Is it right that HMRC will calculate tax and NICs on the loan plus any other income for this year (and add interest and penalties if appropriate) and that is all? (Asking because I’ve read here about some IHT charge).

Thanks for your thoughts.