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Latest Settlement Offer

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    #11
    Can anybody confirm, is the “settle” option still available (as of 16th June 2020) as I thought the deadline for this was April 2019. I know the “LC” option is 30th September 2020. I am confused as looking at some posts above it appears the “settle” option is still possible.

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      #12
      Originally posted by Mau View Post
      Can anybody confirm, is the “settle” option still available (as of 16th June 2020) as I thought the deadline for this was April 2019. I know the “LC” option is 30th September 2020. I am confused as looking at some posts above it appears the “settle” option is still possible.
      not sure if it is available, but speaking for myself....i have been in the HMRC system since the orginal deadline of Sept 18 (i think) where all i did was declare amounts of loans i had received, ahead of the April 19 original LC date. i still haven't settled (or agreed), so i guess it's still an option in that way. i still can't get clarity on IHT from HMRC, and a suitable replayment plan.

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        #13
        Originally posted by DanJackiels View Post
        not sure if it is available, but speaking for myself....i have been in the HMRC system since the orginal deadline of Sept 18 (i think) where all i did was declare amounts of loans i had received, ahead of the April 19 original LC date. i still haven't settled (or agreed), so i guess it's still an option in that way. i still can't get clarity on IHT from HMRC, and a suitable replayment plan.
        same situation as me. Last letter I got back in Jan after the Morse review said they would write to me by July outlining any changes and then send me a settlement. Worth noting I have never had any settlement from them

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          #14
          I can see on Twitter the loan charge APPG running with a lot of stories around HMRC and forcing bankruptcy (via debt collectors). Has anyone experience of these heavy handed tactics from HMRC ? I’ve mainly exchanged letters, with a couple of phone calls - there has never been any threatening talk or more aggressive pursuit of payment.

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            #15
            Originally posted by DanJackiels View Post
            I can see on Twitter the loan charge APPG running with a lot of stories around HMRC and forcing bankruptcy (via debt collectors). Has anyone experience of these heavy handed tactics from HMRC ? I’ve mainly exchanged letters, with a couple of phone calls - there has never been any threatening talk or more aggressive pursuit of payment.
            I know someone that has had debt collectors round for APNs. He doesn't have anything, so they can't get anything. Doesn't stop them trying.

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              #16
              Originally posted by Albert49 View Post
              Not sure about Food, but I submitted mileage expenses (45p a mile for first 10,000, 25p for remaining), for a couple of my later years (in a self employed scheme) and successfully got them subtracted from my loan amounts, however I did this when I first supplied my figures last year, not sure what HMRC' response will be now, but worth asking I would think.
              Albert49 - are you able to post some evidence that HMRC deducted these costs from your loan amounts. Thanks

              If they did this for you - they need to treat everyone else in the same way and could make a huge difference to the open year demands

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                #17
                Originally posted by Mau View Post
                Can anybody confirm, is the “settle” option still available (as of 16th June 2020) as I thought the deadline for this was April 2019. I know the “LC” option is 30th September 2020. I am confused as looking at some posts above it appears the “settle” option is still possible.
                It's still available, I adhered to the deadlines too, got the letter in Jan about my totals being communicated by July and I received those papers about 10 days ago.

                The papers ask I contact them by July 9th so as I have time enough to conclude a settlement agreement with them prior to the Sept deadline.

                Comment


                  #18
                  Originally posted by Albert49 View Post
                  Not sure about Food, but I submitted mileage expenses (45p a mile for first 10,000, 25p for remaining), for a couple of my later years (in a self employed scheme) and successfully got them subtracted from my loan amounts, however I did this when I first supplied my figures last year, not sure what HMRC' response will be now, but worth asking I would think.
                  Thank you Albert49. No harm in trying I suppose

                  Comment


                    #19
                    Originally posted by ozzyo99 View Post
                    It's still available, I adhered to the deadlines too, got the letter in Jan about my totals being communicated by July and I received those papers about 10 days ago.

                    The papers ask I contact them by July 9th so as I have time enough to conclude a settlement agreement with them prior to the Sept deadline.
                    Hi, I am hoping to get the money together to settle this year but I am unclear what this September deadline means. I actually rang HMRC and it was clear the person on the phone did not know. Has anyone heard whether there is an actual deadline by which HMRC wants everyone to settle by?? Thanks

                    Comment


                      #20
                      Originally posted by Forsythia View Post
                      Hi, I am hoping to get the money together to settle this year but I am unclear what this September deadline means. I actually rang HMRC and it was clear the person on the phone did not know. Has anyone heard whether there is an actual deadline by which HMRC wants everyone to settle by?? Thanks
                      I may be wrong but I think you need to settle by then or you'll be liable for the Loan Charge. The 2018/19 self assessment return is due in October. If you haven't settled then you'd need to declare your loans on the return and pay the charge.

                      NB. the loan charge only applies if your loans were after December 2010.
                      Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

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