Originally posted by Delendog
View Post
- 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!
Any settlement figures yet?
Collapse
X
Collapse
-
-
Originally posted by here4beer View PostOK, thanks. So if you don't organise time to pay, and are just constantly late, its 3.25%. And if you organise a TTP, it's 4.25%?Comment
-
Originally posted by Delendog View PostIf you don't organise TTP with a settlement you have to pay it all .Comment
-
Hi
Got my settlement figures last week. Used AML PCC between 2011 and 2013 so two full years in total. Lucky me stopped it after that.
Been offered a settlement figure of £62K including back and forward interest. Now the issue is I was properly sent a income tax query for 2011/12 and that revised tax due per HMRC was recorded. I requested for a full statement of tax a few months back and it reflects the tax HMRC views as due and its was in hold status.
The other year looked fine and no query till date about the 2012/13 tax filing but declared it as part of the settlement pack as I thought that's what I'm supposed to do. What are people with this situation planning to do? Anyone contacted HMRC about this and offered to settle just the OPEN years.
Also is there a chance of making a one time and full settlement at a discount rather than opting for multi year settlement offers ??
Thanks and appreciate your help here.Comment
-
Originally posted by here4beer View PostI see, I thought some people had qualified for the 3.25% some how. Thanks.
If your liability was £100,000 and fell due 31/1/09 and was paid 31/1/19, then interest is due.
The present rate is 3.25%.
If it was that for the entire 10 years the money was owed, you would owe HMRC another £32,500.
If you cannot pay it all on 31/1/19 but instead spread it forward under an agreed TTP then your would pay 4.25% on the unpaid instalments.
If you think that not agreeing a TTP is the way forward, you will be harrassed by DMB.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
-
Originally posted by webberg View PostIt's really not difficult.
If your liability was £100,000 and fell due 31/1/09 and was paid 31/1/19, then interest is due.
The present rate is 3.25%.
If it was that for the entire 10 years the money was owed, you would owe HMRC another £32,500.
If you cannot pay it all on 31/1/19 but instead spread it forward under an agreed TTP then your would pay 4.25% on the unpaid instalments.
If you think that not agreeing a TTP is the way forward, you will be harrassed by DMB.Comment
-
.
I've just created an account on here so I can contribute to this thread.
My wife has just received her settlement numbers now - Im still awaiting mine and dreading it as it will not be good news.
We're still trying to work out just how we can deal with this as understand that 0% credit card options, mortgage options have been ruled out.
Am totally fearful...Comment
-
Originally posted by BenjaminBraddock View PostI've just created an account on here so I can contribute to this thread.
My wife has just received her settlement numbers now - Im still awaiting mine and dreading it as it will not be good news.
We're still trying to work out just how we can deal with this as understand that 0% credit card options, mortgage options have been ruled out.
Am totally fearful...Comment
-
Finally Got Mine
Mine arrived in the post last week.
Final amount almost a third of the loan amount. Ouch!
Haven't decided what my next step will be - but fortunately I am lucky in that I have got the money to pay.Comment
-
Originally posted by InNZ View PostMine arrived in the post last week.
Final amount almost a third of the loan amount. Ouch!
Haven't decided what my next step will be - but fortunately I am lucky in that I have got the money to pay.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