Hmrc Are After Me......

[dieseldick]

i was working offshore a couple years ago, as far as i was concerned and the rest of the guys who worked there we all paid tax through an umbrella scheme.

the company was called IQ contracts who have ceased to trade. ive gotten letters to ask me fill in my tax returns last year and this year, so far i have ignored them.

what can i do , if i keep ignoring them what will eventually happen ?

[ummmm]

They'll fine you.

[douglas9401]

Hope your big bet comes off and you can settle your debt.

[Zacs-Master]

http://www.ejpandco.co.uk/blog/2015/6/8/guidance-for-darwin-pay-iq-contracts-ebt-scheme-users

http://forums.contractoruk.com/hmrc-scheme-enquiries/103924-hmrc-enquiry-letter-winchester-iq-contract-under-section-9a.html

http://www.iqcontracts.com/news/contractor-tax/hmrc-reveals-worst-excuses-for-late-tax-returns

[gingejbee]

HMRC will send their own estimate of the tax you owe....and will fine you. You'll even be fined (£100) for ignoring tax returns!

[Old_Geezer]

I'd not ignore the tax office (or any governmental department) were I you.

Write/e-mail to tell them that you have already paid all due tax via this now defunct 'IQ Contracts' and so you would appreciate them not asking for more tax.

I'm unsure why you can not provide the evidence though; was this some kind of avoidance scheme they were running ?

[fiction-factory]

If you have all the pay statements showing the tax deductions it should be fine unless the umbrella scheme was dodgy.
If all your pay statements and P60 were online though and the site has closed with the company then it's more difficult. Did you get a printed p60? I always print my electronic p60s off.

[ubasses]

All good advice never ignore the Taxman. You say you were working abroad a couple of years ago and they have requested figures for last year and this, your Company may well have paid your tax and now they want to calculate what you owe for the subsequent years. Get the forms completed and returned as soon as possible before they start getting 'heavy'

[donny48]

In a similar situation a few years ago I got every piece of evidence of tax paid and fell on their mercy. They were brilliant to deal with and extremely helpful.

[dieseldick]

i have misplaced all my tax forms and wage slips which were then emailed to me every 2 weeks by IQ contracts. i have nothing to prove to HMRC so i guess im snookered .

[chrissa1]

My daughter used to work for P&O Cruises and was out of the country for a good part of a year. Her tax was deducted as normal and then at the end of the tax year she could claim the tax back for the time she was out of the country.

If you were working off-shore for a couple of years can you not go through your bank statements, see what your salary was per month and then work out from there, what your gross and nett, was.

I would arrange a meeting with HMRC and give them what paperwork you have.

[Islay]

Chrissa, wouldn't be much of a meeting - he has 'misplaced' all his wage slips!!!

Why ignore the requests unless you knew that you were doing wrong and avoiding tax?

Best come clean because they now have laws that allow them to remove money from your bank account.

[hc4361]

Is this one of those arrangements where part of your income is a loan of some sort?

[dieseldick]

i did not keep my wage slip emails because i obviously thought that everything was above board and IQ contracts were a legit companie, i have spoken to many men who worked offshore and hmrc are onto all of them so im not the only one.

[hc4361]

You are supposed to keep your P60s whoever you work for

[Zacs-Master]

Doesn't look like IQ contracts have ceased trading:
http://www.iqcontracts.com/news

[Buenchico]

IQ Contracts seems to have risen phoenix-like from the ashes:
http://flipdemo.1024bitslabs.com/
(The new company was formed 9 months ago).

Gingejbee writes about a £100 fine for failing to submit a tax return. Unfortunately it can be far higher than that. Let's suppose that DD should have sent in a tax return by 31 Jan this year. For failing to do so he'll have incurred a £100 penalty. That stayed the same until 30 April when HMRC will have started charging a further £10 per day. That will have continued for 90 days, making the total penalty at that point £1000. On 31 July a further £300 penalty will have been added (or 5% of the tax due, if higher). So DD already owes at least £1300 in penalties:
http://www.which.co.uk/money/tax/guides/tax-returns/late-tax-returns-and-penalties-for-mistakes/

Follow Donny48's advice and contact HMRC a.s.a.p., DD!

[Buenchico]

^^^ PS: Those penalties apply even if not a single penny in tax is actually due!

[chrissa1]

Islay, that's why I said to take in his bank statements. Surely you've kept or have the means to get them, dd.

[Islay]

Chrissa, at this late stage unless he is good at begging he is still facing a very large fine for 2 years SA not completed!