Originally posted by WTFH
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Anyone filing a 2018/19 tax return for the LC, based on the advice of a tax advisor
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Blog? What blog...? -
Originally posted by malvolio View PostAs many as you like. But if you don't know that all of your income less your personal allowance is subject to at least 20% income tax so you have a dim understanding of how much might be owed, that won't help, will it. There is a point where basic (or wilful) ignorance ceases to be a defence. And seriously, if you are working at our level and genuinely don't have a clue about basic taxation, then more fool you.
I ask about all the complexities of taxation, and you change that to be "if you don't understand the basics"
Notice the difference?
You then refer to people as "dim" etc.
Do you read the number of posts on here where people don't understand the complexities?
It's not just "Pay CT", it's the personal allowance, the amount of dividend, how much you claim for x,y,z, how many shareholders/directors, etc.
It's not a simple thing to understand the complexities of, that's why people pay accountants.
In the same way that businesses pay for consultants, who have more experience and knowledge than them in certain areas, to come in and fix/deliver solutions to help their business . That's the basics of successful IT contracting.…Maybe we ain’t that young anymoreComment
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Looks at this thread, wonders why 2 mods wasted time arguing over points when Malvolio was clearly trolling (which is why he was banned from this forum).merely at clientco for the entertainmentComment
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Originally posted by regron View Postif you are facing bankruptcy anyway, then any last throw of the dice could and probably would look attractive, no matter how many penalties may be put on them. Especially if the outcome would equal the same.
I imagine some facing BR may have done a bit of asset protection. Or legged it abroad.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by eek View PostLooks at this thread, wonders why 2 mods wasted time arguing over points when Malvolio was clearly trolling (which is why he was banned from this forum).Comment
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Originally posted by lowpaidworker View Postthey have posted over 11000 times.Last edited by eek; 3 July 2020, 11:54.merely at clientco for the entertainmentComment
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The problem, in the case of the Loan Charge, is there are advisors out there that are either:
(a) selling "solutions" to avoid it altogether (it looks like this is what Hamilton Rose are doing)
or
(b) offering a service to help people appeal against the charge
In either case, this will involve submitting a 2018/19 tax return which will poke HMRC.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by DealorNoDeal View PostThe problem, in the case of the Loan Charge, is there are advisors out there that are either:
(a) selling "solutions" to avoid it altogether (it looks like this is what Hamilton Rose are doing)
or
(b) offering a service to help people appeal against the charge
In either case, this will involve submitting a 2018/19 tax return which will poke HMRC.
Edit to add - but as you have stated multiple times on this thread - it's up to you as the tax payer to decide what you are going to do - the advisers can merely advice, you have to decide.Last edited by eek; 3 July 2020, 11:53.merely at clientco for the entertainmentComment
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Originally posted by eek View PostLooks at this thread, wonders why 2 mods wasted time arguing over points when Malvolio was clearly trolling (which is why he was banned from this forum).
But answer NAT's quite valid point, to understand the basics is not a big ask, because it gives you a bit more of a basis to challenge your advisor's proposed solution. If he promises you an 83% return after his 15% fees and you know that you must pay at least 20% taxes to someone you have a point worth questioning. I don't know how to adjust my car's engine management system but I do know I shouldn't have blue smoke billowing out of the exhaust.
I would have thought that to be bleedin' obvious. YMMVBlog? What blog...?Comment
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Hi, can i please ask .. I received what I believe to be a generic HMRC loan charge letter in January and it says if we asked you to complete a 2018-19 SATR or tell them I need to pay the LC ASAP.
As you all know, the deadline is September but they haven't asked me for a tax return and that was first correspondence i received.
So am I obliged to say anything to them? And can they impose penalties for not responding?
Apologies if this is derailing thread but seems almost in line with topic.Comment
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