Settlement Versus Hoey

[bubble99]

its probably the interest that accumulated before the APNs were paid.

re: if I read correctly, pulling out of settlement with HMRC.... one thing to consider is that the settlement you have agreed is probably under the Nov 2017 settlement offer package. If you decline it - any future settlement will be under the Aug 2020 package where a.) IHT (if any) will be higher as its 3 years later b.) if your APNs dont fully cover all the 'tax' owed, your interest bill will get higher c.) You will have to pay NICs.

So if you hang your hat on a hoey outcome, which by the time all the appeals are done might be still years (?) down the track.... and we ultimately loose hoey.... you will end up having to settle on worse terms.

[eek]

Hi
I also paid my APN's but then I was charged interest of approx£4500. I have had my settlement accepted and thus needs to be paid by 29th December, not sure if I should just wait a little longer .. I have had this hanging over me for 8 years ! What's another few months

If you have fully paid your APNs there should be no additional interest being charged - in which case you may as wait until the court case is finished - I would also be asking why HMRC are charging interest because they shouldn’t

[lorry]

Interest

I have a simple question on settlement. All my open/protected years are pre 2010. (Penfold and Hamilton)

It seems the Hoey case is doing well. If I settle, would HMRC refund me if Hoey wins in the UTT? And the expected appeal?

Or do I sit it out, not settle and wait to see the outcome?

I have paid my APNs, so no pressure to settle. The LC does not apply to me, being pre 2010?

Thanks

Hi
I also paid my APN's but then I was charged interest of approx£4500. I have had my settlement accepted and thus needs to be paid by 29th December, not sure if I should just wait a little longer .. I have had this hanging over me for 8 years ! What's another few months

[brayveheart]

If you settle - that's it, HMRC won't refund you the money.

Unprotected pre-2010 are in the clear.

There isn't much incentive to settle, especially as you've paid APNs so no further interest is racking up.

Lets not forget protected non DOTAS pre 2011 years. For those hmrc can't currently issue APN, nor collect tax.

But if Hoey loses HMRC will have the grounds to demand backdated taxes plus interest and penalties.

Hoey win or lose means tens of thousands of pounds for 10s of thousands of people.

Get real people, support Hoey's Gofundme fighting funds, or pay the taxes HMRC demand now and save yourself future interests

Donate to save yourself, not Hoey

Couldn't have said it better myself; totally agree with this. This is the best (and probably only) chance to defeat HMRC for pre-2010 open years. APNs refunded. Imagine that ? Don't leave it to others. Many are ending up in TTP arrangements where 1 month of their agreement paid to Hoey could have them escape a life of penury. It's a no-brainer to back this

[luxCon]

Unprotected pre-2010 are in the clear.

There isn't much incentive to settle, especially as you've paid APNs so no further interest is racking up.

Lets not forget protected non DOTAS pre 2011 years. For those hmrc can't currently issue APN, nor collect tax.

But if Hoey loses HMRC will have the grounds to demand backdated taxes plus interest and penalties.

Hoey win or lose means tens of thousands of pounds for 10s of thousands of people.

Get real people, support Hoey's Gofundme fighting funds, or pay the taxes HMRC demand now and save yourself future interests

Donate to save yourself, not Hoey

[DealorNoDeal]

Thanks for the perspective.

So why settle then? If it is pre 2010, even protected loans? (I am assuming unprotected pre 2010 is now safe)

Unprotected pre-2010 are in the clear.

There isn't much incentive to settle, especially as you've paid APNs so no further interest is racking up.

[Wimbledon]

If Hoey wins, HMRC will have to refund the APNs.

If Hoey wins, it's likely HMRC will appeal, which is why they need funds (minimum contribution is £300) to cover the appeal.

If Hoey loses, they will appeal IF they can raise the funds to do so.

If Hoey loses and they don't have enough money to appeal, then HMRC will keep your APN money, and will go after everyone else with pre-DR loans. You'll be fine though, as you've paid your APNs so have nothing further to pay (I guess).

Thanks for the perspective.

So why settle then? If it is pre 2010, even protected loans? (I am assuming unprotected pre 2010 is now safe)

[Darkpaw]

I have a simple question on settlement. All my open/protected years are pre 2010. (Penfold and Hamilton)

It seems the Hoey case is doing well. If I settle, would HMRC refund me if Hoey wins in the UTT? And the expected appeal?

Or do I sit it out, not settle and wait to see the outcome?

I have paid my APNs, so no pressure to settle. The LC does not apply to me, being pre 2010?

If Hoey wins, HMRC will have to refund the APNs.

If Hoey wins, it's likely HMRC will appeal, which is why they need funds (minimum contribution is £300) to cover the appeal.

If Hoey loses, they will appeal IF they can raise the funds to do so.

If Hoey loses and they don't have enough money to appeal, then HMRC will keep your APN money, and will go after everyone else with pre-DR loans. You'll be fine though, as you've paid your APNs so have nothing further to pay (I guess).

[luxCon]

Fight it

I have a simple question on settlement. All my open/protected years are pre 2010. (Penfold and Hamilton)

It seems the Hoey case is doing well. If I settle, would HMRC refund me if Hoey wins in the UTT? And the expected appeal?

Or do I sit it out, not settle and wait to see the outcome?

I have paid my APNs, so no pressure to settle. The LC does not apply to me, being pre 2010?

Thanks

Help Hoey win his case, and save yourself 10s of thousands by contributing what you can and think is fair to his fighting funds.

Thousands of victims been paying monthly subs to tax professionals with nothing to show for it. Hoey's case will save the day for pre 20111 EBT victims for a sake of a few hundred pounds contribution towards his fight

[DealorNoDeal]

Even if you part of the litigation association?

No. Settlement is final and irrevocable. Like divorce settlement.

[Wimbledon]

If you settle - that's it, HMRC won't refund you the money.

Even if you part of the litigation association?

[eek]

I have a simple question on settlement. All my open/protected years are pre 2010. (Penfold and Hamilton)

It seems the Hoey case is doing well. If I settle, would HMRC refund me if Hoey wins in the UTT? And the expected appeal?

Or do I sit it out, not settle and wait to see the outcome?

I have paid my APNs, so no pressure to settle. The LC does not apply to me, being pre 2010?

Thanks

If you settle - that's it, HMRC won't refund you the money.

[Wimbledon]

I have a simple question on settlement. All my open/protected years are pre 2010. (Penfold and Hamilton)

It seems the Hoey case is doing well. If I settle, would HMRC refund me if Hoey wins in the UTT? And the expected appeal?

Or do I sit it out, not settle and wait to see the outcome?

I have paid my APNs, so no pressure to settle. The LC does not apply to me, being pre 2010?

Thanks