Need your advice

[jack90]

I worked in 2014 (almost for a year) with an umbrella company (Helix) and got paid in the form of 10-years maturity loan.

1. In Dec 2015, HMRC sent me a letter asking about the loans I received in 2014 and I replied back with contract/loan details.
2. In June 2016, HMRC sent me a letter saying they don't require more information and they will let me know if they do so in the future.
3. In July 2018, they sent me a letter requested SN, bank statements, etc of the loans I received before 30 Sept.

I still haven't replied to them, partly because I was away almost the whole summer for work.

What are my options here ? The tax on that loan will be huge and I can't afford to pay it all.



Thanks

[Vincenth1]

Need your advice

Join LCAG, get support and help fight the LC
Maybe join Big Group for a resolution of underlying tax issues
Get good independent tax advice e.g. DSW or WTT etc
Keep your options open re settlement vs loan charge for now
Contribute to LCAG JR of LC
Consider a mis-selling claim
Don't ignore it as it won't go away and will just make things worse

[LondonManc]

Communicate with them. Apologise that you'd been away in the summer and this is the first chance you'd had to reply. Co-operate in full, act naively - with this being an umbrella rather than a scheme arranger, they may be able to actually go after the arranger. With you being a contractor permie (i.e. via an umbrella) rather than through a ltd company, you may be able to argue that you shouldn't have to know about these things and were simply being paid as advised by your employer.

[GreenMirror]

Send them what they want. Explain why it was late.

HMRC are getting more flexible on TTP. Someone recently got 42 years.

Try contacting phil at dswtres dot com if you need professional help.

[me206et]

Send them what they want. Explain why it was late.

HMRC are getting more flexible on TTP. Someone recently got 42 years.

Try contacting phil at dswtres dot com if you need professional help.

Yay. Ttp. I would be well over 100 by then, and still not paid off.

[jack90]

Thanks all.

I received today the Settlement Support Pack by email. It's a spreadsheet with loads of tabs to fill.

[Vincenth1]

Need your advice

Take professional advice before filling it in.

[demby]

Thanks all.

I received today the Settlement Support Pack by email. It's a spreadsheet with loads of tabs to fill.

Make sure they get it before the 31st September 2018 deadline.

You may have to retrospectively complete it