If you were issued APNs in 2015 could you afford to pay them.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Poll - could you afford to pay APNs?
Collapse
X
-
-
Straw poll ...
Nope - not even given time to pay over 2 years or longer ..."If You Tolerate This Your Children Will Be Next ..." -
I have PMed the mods to request an andyw option. I will vote when the andyw option arrives. I suggest "APN=AndyW Pays Nothing".
As you are a mate I have asked for your perma-ban to be commuted to a month.....Comment
-
No
No, I can't afford it at all. I have no house, no savings, no car, no assets whatsoever that I can sell, just come off a DMP so no chance of borrowing (lol) the level of money they'll want. I've got a good job but can't afford to pay APN within two years.Comment
-
Originally posted by DonkeyRhubarb View PostIf you were issued APNs in 2015 could you afford to pay them.Comment
-
Originally posted by DesparateDan View PostYes... by taking equity out of my house, but I would never be able to clear my mortgage, so would need to sell up.Comment
-
-
-
Same here
Originally posted by DesparateDan View PostYes... by taking equity out of my house, but I would never be able to clear my mortgage, so would need to sell up.Comment
-
By Remortgaging
Is the only way I can possibly afford,
However a word of warning for those who do need to remortgage, lenders will not loan money if the reason is to pay a HMRC debt (or any debt for that matter). So if you wait until the actual APN comes in to get the mortgage and you give another reason (e.g. to buy a 2nd property, extension) you are technically committing mortgage fraud (e.g. giving a false reason for asking for the money).
If however you do so before hand (as technically there is no debt at this point) you could do so without technically committing mortgage fraud as once you have the money its up to you on how to use it.
Other option is to take a commercial loan, but thats way more expensive..
My point - be pro-active and start looking at mortgages now rather than waiting for a APN to roll in, having an offset mortgage can effectively stop you paying interest on the extra funds until you need it.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment