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!
Settlement on hold pending the Loan Charge Review?
Hi all,
Most of you who may be in the middle of a settlement may have received a letter from HMRC suggesting that you could decide to put your current settlement on hold until the LC review (the "on hold" is what HMRC defaults to if they do not hear from you". I am wondering why HMRC is offering that option while the settlement was not directly related to the LC. Does anyone know? Are they now "fishing" hoping to get as much as they can grab in case something different happens? Should I go ahead without waiting for the outcome or should I put the settlement on hold? What are your thoughts vs risks?
Most of you who may be in the middle of a settlement may have received a letter from HMRC suggesting that you could decide to put your current settlement on hold until the LC review (the "on hold" is what HMRC defaults to if they do not hear from you". I am wondering why HMRC is offering that option while the settlement was not directly related to the LC. Does anyone know? Are they now "fishing" hoping to get as much as they can grab in case something different happens? Should I go ahead without waiting for the outcome or should I put the settlement on hold? What are your thoughts vs risks?
Thank you.
I have had the same letter. I can think of no reason why anyone in receipt of such a letter would not now hold on until the outcome of the review. The letter states you will NOT be penalised in any way by waiting, and that any changes agreed in the review will be applied to your settlement.
I have had the same letter. I can think of no reason why anyone in receipt of such a letter would not now hold on until the outcome of the review. The letter states you will NOT be penalised in any way by waiting, and that any changes agreed in the review will be applied to your settlement.
Why would anyone not wait?
I agree. Given the content of the letter, one simply needs to wait. They are being (surprisingly) helpful.
I agree. Given the content of the letter, one simply needs to wait. They are being (surprisingly) helpful.
Agree but again what I find interesting is why pause settlements because of the LC review? They aren't mutually related and are on a different path. What LC change can impact the settlement? If HMRC had ALL the facts, would they still be helpful?
Agree but again what I find interesting is why pause settlements because of the LC review? They aren't mutually related and are on a different path. What LC change can impact the settlement? If HMRC had ALL the facts, would they still be helpful?
Many (most?) people are only settling to avoid the LC. If the LC was dropped, or substantially watered down, many may reconsider their decision to settle.
So, they are related in a "cause and effect" sense.
Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.
Comment