Any settlement figures yet? Any settlement figures yet? - Page 4
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  1. #31

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    I received my settlement figures back last week.

    As I didn't have accurate figures (2006/7) to send them so I sent best guess estimates, by email before the September deadline. I have not had to fill the much talked about Spreadsheet or had any other communication with them.

    The letter mentions that they have accepted my loan estimates, so I guess they don't have the figures either, but were in line with Salary * (4.75).

    With the documentation they sent:
    • A letter explaining their decision, including that they have deemed NO IHT
    • A full calc of my 2006/7 Tax return and Revised calcs inclusive of loan as income on the same page
    • A separate breakdown of interest charged.
    • A acceptance letter with extra pages for payment by installments



    I have a month to accept the settlement

    As I intend to pay in full, should I accept and deal with the matter myself or are there any advantages to using Phil or Graham

  2. #32

    Should post faster


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    Quote Originally Posted by Cowboy66 View Post
    I received my settlement figures back last week.

    As I didn't have accurate figures (2006/7) to send them so I sent best guess estimates, by email before the September deadline. I have not had to fill the much talked about Spreadsheet or had any other communication with them.

    The letter mentions that they have accepted my loan estimates, so I guess they don't have the figures either, but were in line with Salary * (4.75).

    With the documentation they sent:
    • A letter explaining their decision, including that they have deemed NO IHT
    • A full calc of my 2006/7 Tax return and Revised calcs inclusive of loan as income on the same page
    • A separate breakdown of interest charged.
    • A acceptance letter with extra pages for payment by installments



    I have a month to accept the settlement

    As I intend to pay in full, should I accept and deal with the matter myself or are there any advantages to using Phil or Graham
    Sounds like you have done the hard work and accept the result. So not sure what an advisor can add to that. If you were fighting some, trying to delay it etc then they may be able to help.

  3. #33

    Still gathering requirements...


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    Quote Originally Posted by Hero1234 View Post
    Some of us still have not received any settlement figures. Noticed a search on my LinkedIn account by HMRC. Anybody else experienced similar?
    creepy.
    was it someone who works with HMRC, what was the job title?

  4. #34

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    Quote Originally Posted by Cowboy66 View Post
    I received my settlement figures back last week.

    As I didn't have accurate figures (2006/7) to send them so I sent best guess estimates, by email before the September deadline. I have not had to fill the much talked about Spreadsheet or had any other communication with them.

    The letter mentions that they have accepted my loan estimates, so I guess they don't have the figures either, but were in line with Salary * (4.75).

    With the documentation they sent:
    • A letter explaining their decision, including that they have deemed NO IHT
    • A full calc of my 2006/7 Tax return and Revised calcs inclusive of loan as income on the same page
    • A separate breakdown of interest charged.
    • A acceptance letter with extra pages for payment by installments



    I have a month to accept the settlement

    As I intend to pay in full, should I accept and deal with the matter myself or are there any advantages to using Phil or Graham
    CowBoy - I would chat to Graham or Phil at least. There is a real chance that CLOSED (Unprotected) may be removed from the Loan Charge 2019. This could potentially save you a fortune.

  5. #35

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    Quote Originally Posted by Joolsey86 View Post
    CowBoy - I would chat to Graham or Phil at least. There is a real chance that CLOSED (Unprotected) may be removed from the Loan Charge 2019. This could potentially save you a fortune.
    ...but as suggested to in other thread not settling may mean you can't get loans written off and achieve closure. So ups and downs.

  6. #36

    Nervous Newbie


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    Quote Originally Posted by Joolsey86 View Post
    CowBoy - I would chat to Graham or Phil at least. There is a real chance that CLOSED (Unprotected) may be removed from the Loan Charge 2019. This could potentially save you a fortune.
    Sorry should have mentioned that they said it was open, a COP Enquiry in 2008 but never asked me for any information after that.

  7. #37

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    @Cowboy, there are statements recently that from 2009 HMRC started communicating their displeasure. Surely they cannot tax any further beyond that with the Loan Charge. I think in reality, it is more like 2011 before any real announcements about DR came out of HMRC in the form of official comms.

  8. #38

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    Default TSC Meeting - 30/01/2019

    Quote Originally Posted by Ltdoptions View Post
    I intend to, but obviously I was interested to know on what basis you made your statement? If you could elaborate a bit, that'd be much appreciated.
    It's worth listening to this from the TSC meeting yesterday with HMRC (from around 15:07) as it confirms as policy that HMRC will not force people to sell their home.

    https://parliamentlive.tv/event/inde...3-fc44608eaae8

  9. #39

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    Quote Originally Posted by Dmac View Post
    It's worth listening to this from the TSC meeting yesterday with HMRC (from around 15:07) as it confirms as policy that HMRC will not force people to sell their home.
    https://parliamentlive.tv/event/inde...3-fc44608eaae8
    But I though they stated that they might "PUT A CHARGE ON YOUR PROPERTY", that's not great

    From: citizensadvice.org.uk
    A charging order secures the debt against your home or other property you own. This makes the debt very serious. It means that you could lose your home if you don't pay back what you owe. Once a charging order has been made, your creditor can apply to the court for another order to force you to sell your home.

    @Joolsey The Loan charge may apply BUT the enquiry is still remains open. My settlement figure is new family car money so I want closure even if Loan Charge does not apply.
    Last edited by Cowboy66; 31st January 2019 at 11:12.

  10. #40

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    Quote Originally Posted by Cowboy66 View Post
    But I though they stated that they might "PUT A CHARGE ON YOUR PROPERTY", that's not great

    From: citizensadvice.org.uk
    A charging order secures the debt against your home or other property you own. This makes the debt very serious. It means that you could lose your home if you don't pay back what you owe. Once a charging order has been made, your creditor can apply to the court for another order to force you to sell your home.

    @Joolsey The Loan charge may apply BUT the enquiry is still remains open. My settlement figure is new family car money so I want closure even if Loan Charge does not apply.
    I don't blame you Cowboy. Good luck

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