Recommend personal tax consultant?
Discussion
Long story short (nda in place etc so hope you understand lack of details)
I am about to receive a reasonably large sum of money which can ordinarily be paid tax free but having asked for preapproval hmrc have taken so long to respond that I am now up against a non moveable expiry date.
Hmrc have asked for some evidence which just cannot be gathered before rhe contract expiry offer date so they wont confirm it as tax free and so the payment is now to be taxed in full if the contract is to be enacted and signed off prior to its expiry.
It's a Complex field and I'm looking for recommendations of personal.uk tax consultants who can liaise with hmrc on my behalf post contracts in an attempt to recover some if not all the tax deducted.
A number of Web sites I've looked at talk about offering advice but I really want someone to liase with hmrc on my behalf not just offer me advice and say "this is what you should do"
Anyone sprining into your minds?
Cheers
I am about to receive a reasonably large sum of money which can ordinarily be paid tax free but having asked for preapproval hmrc have taken so long to respond that I am now up against a non moveable expiry date.
Hmrc have asked for some evidence which just cannot be gathered before rhe contract expiry offer date so they wont confirm it as tax free and so the payment is now to be taxed in full if the contract is to be enacted and signed off prior to its expiry.
It's a Complex field and I'm looking for recommendations of personal.uk tax consultants who can liaise with hmrc on my behalf post contracts in an attempt to recover some if not all the tax deducted.
A number of Web sites I've looked at talk about offering advice but I really want someone to liase with hmrc on my behalf not just offer me advice and say "this is what you should do"
Anyone sprining into your minds?
Cheers
I have no recommendation but you need a tax agent. https://www.gov.uk/guidance/how-to-choose-a-tax-ag...
Thanks for the the replies and I appreciate I've been lacking in detail. Interesting link on an agent and something I'm exploring now.
Coincidentally my lawyer has just been in touch and we think we have found away of executing the agreements but holding monies back until hmrc are satisfied 1 way or another a bit like an escrow arrangement.
The taxes would be well into 6 figures so sizable bill and best avoided if possible, hence my thread.
Coincidentally my lawyer has just been in touch and we think we have found away of executing the agreements but holding monies back until hmrc are satisfied 1 way or another a bit like an escrow arrangement.
The taxes would be well into 6 figures so sizable bill and best avoided if possible, hence my thread.
Longy00000 said:
Thanks for the the replies and I appreciate I've been lacking in detail. Interesting link on an agent and something I'm exploring now.
Coincidentally my lawyer has just been in touch and we think we have found away of executing the agreements but holding monies back until hmrc are satisfied 1 way or another a bit like an escrow arrangement.
The taxes would be well into 6 figures so sizable bill and best avoided if possible, hence my thread.
At that level you probably want a multi-partner, but local, accountancy firm accustomed to dealing with HNW. Avoid the big 4/tier 2 firms unless you want much of the tax bill to become their bill.Coincidentally my lawyer has just been in touch and we think we have found away of executing the agreements but holding monies back until hmrc are satisfied 1 way or another a bit like an escrow arrangement.
The taxes would be well into 6 figures so sizable bill and best avoided if possible, hence my thread.
Do your lawyers have a “private client” operation and/or any partners who deal with HNW-related matters? If so, they should easily be able to suggest someone they’ve worked with before/know of and would recommend.
Yeah I thought the same about the big 4, had many corporate interactions with them over the years and they are not cheap, though the ipad you use to make a coffee in PwC is a very strange but novel customer experience!
I did go back to the lawyer I'm dealing with and she has put me in touch with a consultant locally whom I'm meeting this evening to discuss. Not a tax expert but someone who may be able to navigate around rhe issue hence removing the Hmrc questions.
At the moment I'm fingers crossed and pulling some papers together for them to look over . Obviously I will update if this goes anywhere.
I did go back to the lawyer I'm dealing with and she has put me in touch with a consultant locally whom I'm meeting this evening to discuss. Not a tax expert but someone who may be able to navigate around rhe issue hence removing the Hmrc questions.
At the moment I'm fingers crossed and pulling some papers together for them to look over . Obviously I will update if this goes anywhere.
I can recommend Rob for good value, fast and pragmatic advice.
https://www.integritytax.co.uk/meet-the-team
https://www.integritytax.co.uk/meet-the-team
Longy00000 said:
I did go back to the lawyer I'm dealing with and she has put me in touch with a consultant locally whom I'm meeting this evening to discuss. Not a tax expert but someone who may be able to navigate around rhe issue hence removing the Hmrc questions.
At the moment I'm fingers crossed and pulling some papers together for them to look over . Obviously I will update if this goes anywhere.
Well kast nights meeting never happened, rescheduled for Tuesday so will find out more then.At the moment I'm fingers crossed and pulling some papers together for them to look over . Obviously I will update if this goes anywhere.
Thanks for the names and recommendations I am googling them in the meantime !
Just wanted to update the final result of my little dilemma.
I had the meeting with someone my lawyer put me in touch with, he drafted a letter which we submitted together with some additional context via my lawyer to HMRC suggesting that if they Insist on their dogmatic approach we would look to progress things both internally with HMRC and if necessary externally through the courts.
So a high risk strategy which could well have pissed them off big style but our belief was they were ignoring the evidence previously submitted and just didn't want to admit they had read the situation wrong and were operating outside their powers as prescribed from previous test cases.
Today they have written to state that I owe NO taxes and this decision is legally binding on them , so they can't change their mind later!
So I owe nothing, they won't pursue me for anything and I am very relieved. Its cost me in excess of £4000 in legal alone to get to this point but I feel it was worth it as I can put this behind me now.
However I do feel the case handler knew they had called it wrong several months ago but dug their heels in unnecessarily to save face until challenged with a court case against them and then they did an about turn.
A sad and silly situation which really wasn't necessary and I could imagine alot of people just coughing up for an easy life or because they couldn't afford to risk/lose £4000 plus on legal fees.
Anyway I'm now happy and so is my wife
I had the meeting with someone my lawyer put me in touch with, he drafted a letter which we submitted together with some additional context via my lawyer to HMRC suggesting that if they Insist on their dogmatic approach we would look to progress things both internally with HMRC and if necessary externally through the courts.
So a high risk strategy which could well have pissed them off big style but our belief was they were ignoring the evidence previously submitted and just didn't want to admit they had read the situation wrong and were operating outside their powers as prescribed from previous test cases.
Today they have written to state that I owe NO taxes and this decision is legally binding on them , so they can't change their mind later!
So I owe nothing, they won't pursue me for anything and I am very relieved. Its cost me in excess of £4000 in legal alone to get to this point but I feel it was worth it as I can put this behind me now.
However I do feel the case handler knew they had called it wrong several months ago but dug their heels in unnecessarily to save face until challenged with a court case against them and then they did an about turn.
A sad and silly situation which really wasn't necessary and I could imagine alot of people just coughing up for an easy life or because they couldn't afford to risk/lose £4000 plus on legal fees.
Anyway I'm now happy and so is my wife
4K in legal fees, in other words almost no work at all !
Ok, jokes aside , well done and double well done for standing up . I know what its like to put oneself on the line with what amounts to a house worth of legal fees if it had gone wrong way. In some many cases justice or just plain getting your simple rights in the law is equal to all those who have the money to risk .
The good news is , no one in the civil service is risking any of their money when they they are mixing stupidity, arrogance , inexperience, bone idleness and good old fashioned inability.
Ok, jokes aside , well done and double well done for standing up . I know what its like to put oneself on the line with what amounts to a house worth of legal fees if it had gone wrong way. In some many cases justice or just plain getting your simple rights in the law is equal to all those who have the money to risk .
The good news is , no one in the civil service is risking any of their money when they they are mixing stupidity, arrogance , inexperience, bone idleness and good old fashioned inability.
Still a bit peeved I had to spend £4k to get it sorted, I'm considering putting the cost down on my self assessment as a tax deductible though don't really want to open that can of worms again!!
Your comments ring true about a tax payer funded civil servant forcing unnecessary costs onto Joe public without any comeback.
I'm fortunate in that I could afford to pay for the advice and follow that path but I could imagine thousands of others paying taxes and costs that they really shouldn't need to because they don't get access to the correct information and just accept rhe word of some civil servant as being correct when they're not.
Your comments ring true about a tax payer funded civil servant forcing unnecessary costs onto Joe public without any comeback.
I'm fortunate in that I could afford to pay for the advice and follow that path but I could imagine thousands of others paying taxes and costs that they really shouldn't need to because they don't get access to the correct information and just accept rhe word of some civil servant as being correct when they're not.
Certainly not an own goal the liability they claimed I would owe was far in excess of the £4k many many multiples.
Three times they Insisted I needed to pay it going back to last August. Then once it gets escalated and they see I'm not about to roll over they suddenly declare I'm correct and I don't owe anything to them
Three times they Insisted I needed to pay it going back to last August. Then once it gets escalated and they see I'm not about to roll over they suddenly declare I'm correct and I don't owe anything to them
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