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  1. Replies
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    92,838

    Sticky: A general query, since settling some previous...

    A general query, since settling some previous years with a certain scheme, when would one expect to receive a closure notice for an enquiry? I assume a closure is still required to officially put the...
  2. Replies
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    2,938

    There is link to ‘settlement’ tax payments in the...

    There is link to ‘settlement’ tax payments in the tax section. This is the HMRC Shipley account. I made some payments here, before a payslip arrived which then gave the details. I believe the main...
  3. Thread: IHT on AML

    by Iter
    Replies
    6
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    729

    AML are just the promotors though?? It wouldn’t...

    AML are just the promotors though?? It wouldn’t matter if they exist or not. The trust doesn’t disappear
  4. Thread: IHT on AML

    by Iter
    Replies
    6
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    729

    Adamit - did you pay the settlement / tax or do...

    Adamit - did you pay the settlement / tax or do you mean that you repaid the loans back?

    If loans are repaid does this generate IHT?

    If you settled by paying the tax liability my understandin...
  5. Replies
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    8,074

    A scheme which has ‘rebranded’ and ‘doesn’t...

    A scheme which has ‘rebranded’ and ‘doesn’t affect the clients’[emoji849]
  6. Replies
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    2,938

    Once you sign the settlement agreement they will...

    Once you sign the settlement agreement they will send their acceptance letter, at that point you will then need to pay. Unless you agreed on TTP you will have to pay the sum in one go as per each...
  7. Replies
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    2,938

    You just need to ensure the reference number is...

    You just need to ensure the reference number is added to payment
  8. Replies
    28
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    2,938

    Following the links on gov site settlement...

    Following the links on gov site settlement payments can be made to thier Shipley account, however they do send out a payment form ......
  9. Replies
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    Yes if you settle under the recent terms I...

    Yes if you settle under the recent terms I believe they only calculated interest upto Sep 18, in my experience any delay caused by them should mean you don’t get penalised.
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    2,938

    Re to point 1 you may owe interest as this is for...

    Re to point 1 you may owe interest as this is for late payment at 3.25 from the tax year date it was originally owed, to I believe Sep 18. Ie if tax year was 13/14 then tax is calculated in...
  11. Replies
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    2,938

    How Soon Do HMRC Want The Money

    Not yet... the deed is in relation to the loan schemes mentioned and quite rightly loan charge would not apply, but technically the outstanding enquiries are still open until told otherwise. Guess...
  12. Replies
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    2,938

    Does anyone rec a confirmation that payment is...

    Does anyone rec a confirmation that payment is received and processed, and prev enquires are closed? I expect that would be too much to ask from HMRC!
  13. Replies
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    By the time they had sent me the settlement deed...

    By the time they had sent me the settlement deed the date stated only gave me about a week to sign, it also said the payment was due by certain date. There was a delay in the process and I had...
  14. Replies
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    185,224

    AML 2019 Loan Charge

    I ve heard this in a few cases and think it’s been discussed in previous discussions.... if you are talking about settlement that is different to how the loan charge would work..... I too have...
  15. Replies
    896
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    185,224

    The loan charge is meant to be tax on...

    The loan charge is meant to be tax on ‘outstanding loans’ [emoji848] Would this not be the amounts in theory then that you personally received and shown on payslips?
  16. Replies
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    862

    Your tax shouldn’t be more though (depending on...

    Your tax shouldn’t be more though (depending on other earnings in that tax year) than approx 4-8k. With added interest of around £400 - £800....
  17. Stride conforming that HMRC have a dedicated team...

    Stride conforming that HMRC have a dedicated team to manage TTP and there is no definite limit to time to pay. Ok how about £50 a month for the next 50 years
  18. Today’s debate resumed around 16:00 on the...

    Today’s debate resumed around 16:00 on the parliament tv, and Stride giving his response about 16:45
  19. Replies
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    1,575

    Are you sure?

    Are you sure?
  20. Replies
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    Just received my settlement pack

    Maybe your terminology is what’s confused him[emoji6]

    As Webberg said the TTP interest is actually 4.25% of the amount agreed to settle over the agreed time( not 1%). That is separate to the 3.25...
  21. If you say they inc IHT in your settlement, (and...

    If you say they inc IHT in your settlement, (and was paid then I assume) how could they request it again? Or was the 2nd time by mistake and from a different dept within HMRC? I know they have...
  22. HMRC settlement Deadlines/delays and the LC

    Sounds a bit suspicious to me, like they are trying to distance themselves from it to prevent them from being reported. They were still the ‘employer’! Also wouldn’t you have to sign any new...
  23. Replies
    450
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    92,838

    Sticky: You’ve already started engagement so should be ok...

    You’ve already started engagement so should be ok if they haven’t responded?. They would rather you settle....
  24. Unfortunately the leak suspended it, am I right...

    Unfortunately the leak suspended it, am I right in thinking Mel Stride was planning on making a response in the commons?
  25. Replies
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    There are people that were setup as LTD but still...

    There are people that were setup as LTD but still using schemes etc. So there is a personal liability as well as the ‘companys’. So a SA will be redone to calculate personal tax plus the company...
  26. ProbAbly find the insurance doc says they are not...

    ProbAbly find the insurance doc says they are not liable for any tax loss!
  27. Thread: BIG GROUP

    by Iter
    Replies
    1,590
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    392,278

    Sticky: Wouldn’t they still need to have an open enquiry/...

    Wouldn’t they still need to have an open enquiry/ assessment as well for it to be considered protected!
  28. Replies
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    3,167

    I think realistically if they know you’re...

    I think realistically if they know you’re planning on settlement they will allow extra time, especially where it’s the revenue that may have created a delay. It may just be an administration change...
  29. They provided all calculations , basic then more...

    They provided all calculations , basic then more in detail when requested.
  30. Replies
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    Whilst you shouldn’t be disadvantaged by the...

    Whilst you shouldn’t be disadvantaged by the agreed settlement amount if contracts are delayed/signed, the contracts may just need ‘rewording’ if not completed until after 5 April . so Ive been...
  31. Replies
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    If papers are already drawn up I guess there may...

    If papers are already drawn up I guess there may just be an admin change to dates on the contracts but yes generally the same terms would apply, and I assume no further interest added?
  32. Replies
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    Is this to address the recent shambles of a...

    Is this to address the recent shambles of a review, hopefully Stride will bother to turn up for a grilling
  33. Replies
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    30,880

    Apse were just one of the many companies of Colin...

    Apse were just one of the many companies of Colin quirk to manage the payroll I think, I think HMRC suspended their closure as they had a liability of over 8 million in unpaid tax. I’m sure all the...
  34. Replies
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    30,880

    Are they the liquidators ?

    Are they the liquidators ?
  35. Replies
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    710

    Poll: Also if they evaluate that the settlement is a...

    Also if they evaluate that the settlement is a higher liability than what you may have paid on the LC they will prob come for the difference. A lot has already been discussed around this on other...
  36. Replies
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    Sticky: While the lump sum is a fairly large sum of money...

    While the lump sum is a fairly large sum of money it won’t cripple me, and thinking I’d rather not have to pay another lot of interest on the TTP payments.
  37. Replies
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    Sticky: I originally asked to spread part of the...

    I originally asked to spread part of the settlement and pay a lump sum, met the criteria..... however they declined this as a few other years with another scheme I decided not to settle. This...
  38. Replies
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    Sticky: Rec. yesterday, they assume payment by 5 apr so...

    Rec. yesterday, they assume payment by 5 apr so that’s 2 weeks!!! How kind of them, and they have added another few thousand as they made a mistake with calcs. TBF though they have admitted that any...
  39. Replies
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    There is also no repayment date mentioned

    There is also no repayment date mentioned
  40. Replies
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    What if the trust docs does not state anywhere...

    What if the trust docs does not state anywhere about repayment dates, is it possible that some of these schemes are not worth the paper they are written on... and it was just a transfer of monies...
  41. Replies
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    92,838

    Sticky: I last spoke with HMRC in confirming figures and...

    I last spoke with HMRC in confirming figures and was told a contract would be sent out, Been waiting about three weeks now. How long have others waited for this are they dragging their heels again...
  42. Replies
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    24,087

    You may not have rec that detail, ask them to...

    You may not have rec that detail, ask them to provide full calculations
  43. Replies
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    969

    They would refuse to tell you if you asked. That...

    They would refuse to tell you if you asked. That figure is misleading anyway as in most cases the employer to HMRC is the ltd company / sole director contractor, not the scheme promoter
  44. Thread: A painful lesson

    by Iter
    Replies
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    3,750

    Why is IHT so high, thought it was roughly 1% per...

    Why is IHT so high, thought it was roughly 1% per year
  45. Replies
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    Views of deed of release - confused

    All based on a check box and scrappy xls they expected people to follow.
    Ok so I did check that, although I guess it’s also stated in a contract to that effect.

    If the window is only 30 days...
  46. Replies
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    7,729

    Views of deed of release - confused

    So if you did settle are you saying the 554C doesn’t apply if /when loan is written off.
    (I assume if wrote off means getting back funds from trust only if not settled)
    Sorry bit confused by this.
  47. Replies
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    I wouldn’t think there is any ‘new’ scheme that...

    I wouldn’t think there is any ‘new’ scheme that Wtt or Phil would be using! Both parties have been clear on their intensions from the start. WTT support litigation through the justice system and as...
  48. Replies
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    Having looked through the deed of adherence...

    Having looked through the deed of adherence docs/fiduciary agreement and a separate trading loan agreement between me and the management company I don’t see any actual wording that says the money...
  49. Replies
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    2,113

    Yes ltd NI employer/ee and personal. Tax is shown...

    Yes ltd NI employer/ee and personal. Tax is shown in both calcs but then effectively deducted from personal calculations as if it’s paid at source.
  50. Replies
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    Settlement, NI and limited company

    Depends really on what other factors are in their calculations for each tax year ie other income/ divis etc but basically including interest it’s about 40%.
    I did question some of the initial calcs,...
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