Settlement deadline 30th September 2020

[webberg]

I'm waiting on them to either accept or reject my settlement offer. They gave me until the 4th of September to return the offer letter, which I've done. I've not heard anything from them since then.

So HMRC has had 6 working days - max?

This is not an instant process and you should give then 10 working days and then be on the phone every day.

[Simon100]

So HMRC has had 6 working days - max?

This is not an instant process and you should give then 10 working days and then be on the phone every day.

Thanks Webberg, I'll do that. If I do need to phone them, is there anything I can say other than hurry up that will speed up their decision?

Also, given that I've used their calculations, is it likely they'll accept?

[Carla58]

You're waiting on HMRC for settlement. If you get that, then there is no need to make any disclosure in a tax return.

If you are unable to settle because of your delays (or choice) then you need to complete the online form for outstanding loans, complete the SATR boxes and elect for the three year treatment. It's all explained in those documents.

If you are unable to settle despite your best efforts, because HMRC has not responded, then that's tricky. Strictly that rules you out of Nov 17 terms and you need to do the disclosure above. However if you advanced in the process I find it hard to imagine that the deadline means quite what HMRC claims.

This is a very unsatisfactory situation all round.

HMRC has to carry some blame here.

However many people who want to settle also left things late.

Hi Webberg

I don't think I have got as far as discussing settlement, I got close a couple years ago, but this time due to living in another country (with limited travel options to uk) not getting any contact with them

As far as I can tell I respond to them by phone and email and they ignore it and don't reply and they haven't put me in contact with a person dealing with my case how ever much I ask

I have now got my self confused reading more on this site as it looks as if you pay the loan charge you still haven't settled even though you have paid the tax on the loan, so what is the extra money they would be looking for is it a fine of some sorts for breaking the law as they seem to think that I knew I was breaking the law even when I tell I have as much understanding of this as why my endowment mortgages left me up schitt's creek and if I settle with HMRC I still seem to owe the total loan to some other company called FS Capital!!!

Also if I haven't worked in the UK for 3 years paying the loan charge seems to look like a good option to me as I assume I wouldn't hit the higher tax rate each year but I am assuming it is an either or solution with the loan charge vs settlement, HMRC want as much as they can get and will want the highest amount

thanks

Carla

[DealorNoDeal]

I have now got my self confused reading more on this site as it looks as if you pay the loan charge you still haven't settled...

Which years were you in the scheme? Are the years open? (Open means HMRC opened an enquiry into your tax returns or issued an assessment.)

The above affects where you stand in terms of loan charge -vs- settlement.

[webberg]

Hi Webberg

I don't think I have got as far as discussing settlement, [did you register for settlement and send the relevant details to HMRC before 5th April 2019?] I got close a couple years ago, but this time due to living in another country (with limited travel options to uk) [will not be accepted by HMRC as an excuse] not getting any contact with them [we are a self assessment system and it is for YOU to contact them no matter how "difficult" that may be]

As far as I can tell I respond to them by phone and email and they ignore it and don't reply and they haven't put me in contact with a person dealing with my case how ever much I ask [there is no "person" dealing with your case. Your case will be assigned to a team and you will have to speak with probably a different person every time you call]

I have now got my self confused reading more on this site as it looks as if you pay the loan charge you still haven't settled [this is correct - no settlement = loan charge due] even though you have paid the tax on the loan [I don't understand this - how have you paid tax on the loan?], so what is the extra money they would be looking for [some punctuation would help? if you have paid tax on the loan then the loan charge may not be due, I'm just a bit confused about how you've done that] is it a fine of some sorts for breaking the law [no - it's a tax on outstanding loans] as they seem to think that I knew I was breaking the law even when I tell I have as much understanding of this as why my endowment mortgages left me up schitt's creek and if I settle with HMRC I still seem to owe the total loan to some other company called FS Capital!!! [the tax due on income/loan and the loan itself are entirely separate legal issues. Paying the tax has no effect on whether the loan is repayable or not.]

Also if I haven't worked in the UK for 3 years paying the loan charge seems to look like a good option to me as I assume I wouldn't hit the higher tax rate each year but I am assuming it is an either or solution with the loan charge vs settlement, HMRC want as much as they can get and will want the highest amount [for the 100th time - the loan charge is NOT AN OPTION TO SETTLEMENT - paying the loan charge DOES NOT settle open enquiries]

thanks

Carla

See above.

You need some advice and quickly.

Anonymous posters on a forum are unlikely to offer advice that can be relied upon because you have no idea what their knowledge, experience, expertise, motives are.

[DavidD]

For anyone who is interested, I've agreed a settlement today, Lump sum + > 150 months to pay back the rest.

Out.

[Simon100]

For anyone who is interested, I've agreed a settlement today, Lump sum + > 150 months to pay back the rest.

Out.

Just out of interest how long did it take HMRC to accept your letter of offer?

[GhostofTarbera]

For anyone who is interested, I've agreed a settlement today, Lump sum + > 150 months to pay back the rest.

Out.

£150 a month

Or pay the rest over 12.5 years ?

If later - Jesus’s !




Sent from my iPhone using Contractor UK Forum

[demby]

£150 a month

Or pay the rest over 12.5 years ?

If later - Jesus’s !




Sent from my iPhone using Contractor UK Forum

Received a letter in May asking if I wanted to settle. Replied saying yes but wanted time to pay and included some financial info.

Received another letter over 12 weeks later asking for more financial details and saying I had to the 27th August to send it back.

Sent that back recorded delivery - they got it on 26th - still waiting for a reply with a monthly repayment plan.

Only 11 working days to the end of the month

What a bunch of incompetent arse-holes we are dealing with

Why didn't the idiots ask for the full financial information on the original letter?
Why did it take the pricks 12 weeks to send the 2nd letter?

[eek]

Received a letter in May asking if I wanted to settle. Replied saying yes but wanted time to pay and included some financial info.

Received another letter over 12 weeks later asking for more financial details and saying I had to the 27th August to send it back.

Sent that back recorded delivery - they got it on 26th - still waiting for a reply with a monthly repayment plan.

Only 11 working days to the end of the month

What a bunch of incompetent arse-holes we are dealing with

Why didn't the idiots ask for the full financial information on the original letter?
Why did it take the pricks 12 weeks to send the 2nd letter?

Um have you noticed any changes in the country within the past 6 months?