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Sam
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Category: Tax
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Hi , i currently owe 3 years self assessment and around

Customer Question

Hi ,

i currently owe 3 years self assessment and around 3 months cis payments for some self employed workers.I am up to date with my vat and creditors and have just payed a large chunk off my own liabilities but feel under pressure with the phone calls and as a result put my flat up for sale to release equity to pay off the debit which i do not really want to do.
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I'm Keith and happy to help you with your question.

I would not put my flat up for sale, you are just playing into their hands. Take it off the market and just negotiate a realistic repayment schedule in writing with HMRC. Tell any telephone caller to write a letter and hang up on them. Saves an awful lot of time!

At least you are doing something to sort out your debts and have terminated your ostXXXXX XXXXXke attitudes! I congratulate you!
Expert:  Sam replied 2 years ago.

Hi

 

 

I am Sam and I am one of the other UK tax experts here on Just Answer, and I have a different point of view.

 

 

HMRC will see that you are doing all you can to help clear this matter but may I ask

 

1) How much you owe in total at todays date and

2) Have you entered into any payment plan with the remaining debt

3) Are you still trading

4) How much you do you think you could afford to pay back each month

5) How much equity do you feel this property will release

6)Is this your home you plan to sell?

 

 

Thanks

Sam

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