Settlements negotiations Settlements negotiations
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  1. #1

    Nervous Newbie


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    Apr 2018
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    Default Settlements negotiations

    Hi all,

    Just having a battle in my ahead on what to do and what will happen next... I literally have no money to pay the settlement even if I really want to... It'll have a massive impact on my life.
    I wonder if any of you have gone through negotiations yet and what the best possible outcome can be achieved ?

    Any information would be much appreciated....

    Thanks in advance
    Mm

  2. #2

    Still gathering requirements...


    Join Date
    May 2018
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    I'm in the same boat as you

  3. #3

    Still gathering requirements...


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    Negotiations are not possible with HMRC.

    You can argue expenses where allowed, but unlike the VAT man, they will not accept a % of the final bill.

  4. #4

    Still gathering requirements...


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    Default Settlements negotiations

    Quote Originally Posted by Mm11 View Post
    Hi all,

    Just having a battle in my ahead on what to do and what will happen next... I literally have no money to pay the settlement even if I really want to... It'll have a massive impact on my life.
    I wonder if any of you have gone through negotiations yet and what the best possible outcome can be achieved ?

    Any information would be much appreciated....

    Thanks in advance
    Mm
    I would say the option is to join the BIG GROUP / WTT and fight..

  5. #5

    More time posting than coding


    Join Date
    Jun 2017
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    274

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    Quote Originally Posted by Dharmin View Post
    I would say the option is to join the BIG GROUP / WTT and fight..
    The elephant in the room with this approach is the loan charge. It will hit before the fight has even started; and there will be no refunds even if the fight is won. Challenging the loan charge seems to be the best solution, that's the LCAG/Phil.

  6. #6

    Still gathering requirements...


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    Quote Originally Posted by starstruck View Post
    The elephant in the room with this approach is the loan charge. It will hit before the fight has even started; and there will be no refunds even if the fight is won. Challenging the loan charge seems to be the best solution, that's the LCAG/Phil.

    That was my conclusion too although there wasn't the possibility of a legal challenge when I made that decision. I had to decide where best to spend a grand or so and after deliberation felt it better to go to DSW for the above reason.
    Last edited by headspin; 30th August 2018 at 18:32.

  7. #7

    Contractor Among Contractors


    Join Date
    May 2018
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    1,499

    Default

    Someone got 44 years TTP. HMRC cannot get what you do not have.

    Contact Phil/webberg.

    LCAG also will provide support .

  8. #8

    Nervous Newbie


    Join Date
    Apr 2018
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    9

    Default Thanks

    Thanks guys. I am in touch with Phil. I don't know what to think anymore. I wish to have decent repayment plan otherwise it'll be really bad.

  9. #9

    Nervous Newbie


    Join Date
    Jun 2018
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    14

    Default How do they know about other loans

    Question is, how can hmrc determine that there have been other loans if they don't have those details

  10. #10

    Still gathering requirements...


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    Apr 2018
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    35

    Default Settlement negotiations

    The answer is HMRC will use a x10 calculation in the absence of information from you.
    If YOU don't report the loans (you need to do so by the end of this month if you want to register an interest in settling or I think by Oct 2019 for the Loan Charge which will need to be paid by the end of Jan 2020) you run the risk of very hefty penalties if/when they find out, that's if your scheme provider or trust hasn't reported the loans to them already. So in short, it's a very risky strategy. Yes pretty crappy I know.

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