Hi all,
Just had my figures through last week and now need a few conversations with advisors in the know to understand the best course of action for my circumstances.
Does anybody have a recommendation based on your own positive experience?
My case should be fairly simple to deal with, but I've some questions I'd welcome opinion on.
My headline is 100k, but I'm a little confused on the strategy for settling (and how quickly) versus repayment of the LC and the benefits of each to me.
I'm fortunate in so much as I can obtain the full amount owed via family loans, obviously HMRC wouldn't recognise this from my overall financial status. I also know HMRC don't do "deals" or reduce the amount owed (in their eyes), but I wondered if anybody had any lessons to tell with regards to paying it off quickly, or by just sticking to the timeline agreed?
On a more fundamental level, I also cannot understand if there's a benefit to me in settling at all? In doing so I sign away any rights to refund (I note this week's finance bill update, well done LCAG), and possibly other conditions too which I'm accepting under settlement. On the other hand, if I've the money to just pay the LC when it's due, do I cling on to more rights? Is the money owed the same, or will HMRC add some other value to it?
Sorry for the scattergun!
Just had my figures through last week and now need a few conversations with advisors in the know to understand the best course of action for my circumstances.
Does anybody have a recommendation based on your own positive experience?
My case should be fairly simple to deal with, but I've some questions I'd welcome opinion on.
My headline is 100k, but I'm a little confused on the strategy for settling (and how quickly) versus repayment of the LC and the benefits of each to me.
I'm fortunate in so much as I can obtain the full amount owed via family loans, obviously HMRC wouldn't recognise this from my overall financial status. I also know HMRC don't do "deals" or reduce the amount owed (in their eyes), but I wondered if anybody had any lessons to tell with regards to paying it off quickly, or by just sticking to the timeline agreed?
On a more fundamental level, I also cannot understand if there's a benefit to me in settling at all? In doing so I sign away any rights to refund (I note this week's finance bill update, well done LCAG), and possibly other conditions too which I'm accepting under settlement. On the other hand, if I've the money to just pay the LC when it's due, do I cling on to more rights? Is the money owed the same, or will HMRC add some other value to it?
Sorry for the scattergun!
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