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  1. a) Settle and put an end to this saga. Would...

    a) Settle and put an end to this saga. Would include all interest & penalties; with some sort of instalment plan?

    b) How do you spread the tax? Is this via the SATR or portal or both?

    Does this...
  2. Replies
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    Am I right in understanding from the above that...

    Am I right in understanding from the above that HMRC wants the tax due on the loan amount plus any interest & penalties (regardless of disclosure method)?

    If you include the loan amounts in your...
  3. Non UK Resident With UK Assets and September Deadline

    I'm trying to determine best action given the upcoming September deadline.

    I've got one open year, settlement offer from HMRC, submitted a UK SATR for UK income. I'm non resident.

    My...
  4. Replies
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    Sticky: Sorry if this has been asked and answered. I am...

    Sorry if this has been asked and answered. I am playing catch up on threads since the 20 Dec Independent Review announcement.

    Open years are still up for grabs by HMRC. However what 'amount' is up...
  5. Replies
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    I'm curious to know how you would submit the...

    I'm curious to know how you would submit the disguised remuneration section without raising any tax.
  6. Replies
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    Self Assessment Tax Return 2018/19 and Loan Charge

    Has anyone submitted their self assessment for 2018/19?

    Did you dislose your loan amounts or not?

    How did you complete the disguised remuneration section?
  7. Help & Support - Struggling mentally with HMRC demands?

    One of the major issue called out recently by various action against the Loan Charge was the mental toll on individuals. Unsure if this forum would benefit from a list of places to get help; or maybe...
  8. Replies
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    How does settlement play into other notices (eg...

    How does settlement play into other notices (eg APN)?

    And do you even have an option under the LC settlement terms to only settle on the open enquiry period?




    In 1 - 3 there is a chance to...
  9. Replies
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    36,613

    Please could you clarify 'open years'? I assume...

    Please could you clarify 'open years'? I assume you are referring to an HMRC open enquiry? And if so, does this scenario actually exist as I suspect HMRC have chosen to keep these enquiries open even...
  10. Replies
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    36,613

    I am late to the game here but just trying to...

    I am late to the game here but just trying to clear this up in my head. Is the decision to settle going to be down to how much your income is now versus then? I am ignoring IHT here.

    Example:
    ...
  11. Replies
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    I have been watching the recent commons debate on...

    I have been watching the recent commons debate on the loan charge at Parliamentlive.tv - Commons

    This is entertaining viewing and is reassuring that some MPs are challenging HMRC.

    Many of the...
  12. Replies
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    Confused?

    Apologies if this has been covered however having trouble keeping up with all the threads and interpretations.

    A couple of questions:

    1) How do I find out the current outstanding loan balances?...
  13. Replies
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    How does the recent HMRC review play into...

    How does the recent HMRC review play into individual engagements with HMRC? Can you now delay settling or responding to settlement with referencing parliament report?

    Amend and review loan charge...
  14. Replies
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    119,280

    Curious to know HMRC current response times to...

    Curious to know HMRC current response times to settlement emails?

    I sent an email to HMRC 8 weeks ago and recieved an automated acknowledgement response. Haven't heard anything since.

    What's...
  15. Is there a template for simply asking HMRC for...

    Is there a template for simply asking HMRC for details of settlement and any relevant information HMRC currently hold on their claim?
  16. Thread: GAME OVER

    by dmuk
    Replies
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    It's great that a EDM is in flight but this may...

    It's great that a EDM is in flight but this may fizzle out. Again, little sympathy exists for those caught up in this mess. You can see that from some of the MP responses to constituents.

    Has any...
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    Sticky: Thanks for the response. The two points I...

    Thanks for the response. The two points I mentioned were from this article

    https://www.wttconsulting.co.uk/single-post/2018/04/09/New-tax-year-new-tax-rules-on-disguised-remuneration-to-bite
  18. Replies
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    Sticky: I take it from this thread that posters may be...

    I take it from this thread that posters may be exempt from the 2019 loan charge:

    1) Where the loan was written off on or before March 16th 2016 (the date the legislation was announced), then it is...
  19. Thread: GAME OVER

    by dmuk
    Replies
    22
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    4,207

    I'm not sure the Rangers case is a good example. ...

    I'm not sure the Rangers case is a good example.

    Wasn't the court ruling in favour of HMRC and meant HMRC could then pursue Rangers (the employer) for money? Furthermore it strengthened the...
  20. Thread: GAME OVER

    by dmuk
    Replies
    22
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    4,207

    Admirable that some want to fight this but what...

    Admirable that some want to fight this but what happens when you start to incur penalties or cannot afford to pay adviser/group fees?

    Ultimately time will come to pay up. You cannot defer...
  21. Thread: GAME OVER

    by dmuk
    Replies
    22
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    4,207

    GAME OVER

    I have been following the contractor scheme nightmare (APN, loan charges etc) for almost a decade. I am surprised to still read optimism in this forum after years of HMRC relentlessly chasing...
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    I know this has been discussed but isn't totally...

    I know this has been discussed but isn't totally clear.

    What is the HMRC treatment for loans written off; closed; or provider no longer exists?

    I read this statement from a tax consultancy:...
  23. Replies
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    Thanks again. Very helpful. Another few points...

    Thanks again. Very helpful.

    Another few points I have been thinking about. I know these sound pretty desperate but thought I would ask.

    1) Leverage success of associations?

    For example you...
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    Some more questions on this thread - apologies if...

    Some more questions on this thread - apologies if this goes over old ground:

    1) Open year challenge - Has anyone had HMRC provide hard evidence of an enquiry notice? Or had HMRC withdraw the APN...
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    Thanks for the clarity. I was only asking in the...

    Thanks for the clarity. I was only asking in the context that it appears from others that HMRC do not acknowledge written correspondence for months or at all.



    I know I am not alone in that...
  26. Replies
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    Has anyone has success with making...

    Has anyone has success with making representation? What was the result?
    What happens if you do not receive a response / revised settlement date within the 90 days? Do you pay to avoid penalties or...
  27. I am assuming that pay the APN first is the...

    I am assuming that pay the APN first is the recommended approach by Cascade/Hamilton/Penfolds fighting funds? And does this mean someone can or cannot later join BigGroup or another group?

    What...
  28. What is the latest for ex-Cascade members who...

    What is the latest for ex-Cascade members who cannot access the various fighting funds?
    Has anyone made their own representations to HMRC regarding the figures and grounds of the APN?
  29. Thread: BIG GROUP

    by dmuk
    Replies
    1,611
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    453,716

    Sticky: When will the group be open to new members? ...

    When will the group be open to new members?
    What options exist to those outside these groups?
  30. Real Time Information (RTI) - Reporting Obligations & Correcting Errors

    I am looking for some guidance on understanding the HMRC reporting obligations for RTI.

    Working on the assumption I am the sole director of a limited company. I draw a monthly salary of £600 (no...
  31. Adding a new shareholder - when must you report to CH?

    I wanted to confirm the below when adding a new shareholder to a limited company.

    What is the obligation to report the change to Companies House? When must this be done?

    I can only find the...
  32. Consequences of ltd co money going into personal account; then back?

    What are the rules on the below?
    What are the rules on the below - if done accidentally?

    a £10k held in limited company bank account
    b £10k transferred from limited company to personal saving...
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    Unfortunately my accountant doesn't seem very...

    Unfortunately my accountant doesn't seem very forthcoming with the information and is not very proactive. I am trying to see if there is anything I should be doing now ahead of winding up.
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    Winding Up Limited Company - Tax Considerations

    I am trying to find some updated guidance on the tax considerations when winding up a limited company. Ideally I am trying to calculate my potential tax liability is I wind up and utilise...
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    I didn't think it through. However you did answer...

    I didn't think it through. However you did answer it. It is very likely the apn would be issued to an individual (rather than Ltd co).

    Therefore it would need to be paid with post tax money. ...
  36. Replies
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    This may be a silly question - but do you pay the...

    This may be a silly question - but do you pay the APN with pre or post company; or personal money?

    If you need to pay the APN with pre-tax company money - how is this treated? Would you be liable...
  37. Agency to provide HMRC with quarterly updates on personal service companies

    Apparently from next week the on site agency will send contractor information to HMRC on a quarterly basis (name, address, payments, etc).

    Something to do with the "Income Tax Earnings & Pensions...
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    Uh, so basically HMRC sit on the money. Should in...

    Uh, so basically HMRC sit on the money. Should in the future you are entitled to the money back, HMRC pay it back to you. The repayment may take years.

    If you receive an APN but participate in a...
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    Thanks for the reply. Could you clarify the 5...

    Thanks for the reply. Could you clarify the 5 year part?

    Is this 5 years from paying the APN? Or from when the tax event or period occurred?

    Is there a limit to how far back the HMRC can go to...
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    Fingers crossed it will be less than I am...

    Fingers crossed it will be less than I am anticipating. Odd they don't add any interest and penalties. I guess I need to wait for the APN to arrive.
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    Interesting. Is this simply the tax HMRC believe...

    Interesting. Is this simply the tax HMRC believe you owe for the tax period? Do they add anything on top?
  42. Replies
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    Are you sure? I am anticipating receiving one...

    Are you sure?

    I am anticipating receiving one for '09/10 and '10/11.

    I am also calculating on the assumption the full amount that was not taxed in these periods is taxable at normal rates plus...
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    Good point. Done. Thanks.

    Good point. Done. Thanks.
  44. Replies
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    Calculating Potential APN

    I am trying to determine a potential APN amount. The association managing the issue has said hold off until the APN actually arrives.

    Is this simply a matter of determining what your tax position...
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    Calculating Potential APN

    I am trying to determine a potential APN amount. The association managing the issue has said hold off until the APN actually arrives.

    Is this simply a matter of determining what your tax position...
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    Thanks for the responses. I am only looking at...

    Thanks for the responses.

    I am only looking at utilising retained earnings.

    I have looked at previous threads but they don’t seem to explicitly talk about using retained earnings to make the...
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    Buying property using limited company account

    I am trying to determine the tax implications of purchasing a property through a limited company. The limited company has cash generated from consulting activity. The property would be rented out;...
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    Thanks for all the responses. I don't think...

    Thanks for all the responses.

    I don't think Entrepreneurs Relief is a concern. Especially when potential non-trading income will be minimal (1%-2% per annum) and minimal in comparison to current...
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    Thanks. How does the pension plan bit work? ...

    Thanks.

    How does the pension plan bit work?

    Do you take after tax money and put it into a pension plan account - pension fund pays you back tax? So essentially the money is tax free? Pension is...
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    What do you do with your surplus cash?

    My business bank account has a decent amount of cash in it. I do not need to pay any outgoings (tax, dividend etc) for a while and wanted to know what others do with the surplus cash?

    Do you just...
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