An asset that has highly appreciated and owned in joint names can cause a challenge when it comes to IHT planning. Here we take a look at some careful IHT planning we assisted a client with in relation to a jointly owned asset.
Resolving Unfair HMRC Penalties for an Overseas Client
A client who had been working abroad received multiple penalties from HMRC for not submitting Self Assessment Tax Returns over several years.
Since he was living outside the UK, he hadn’t received any of the letters.
So the penalties and interest kept piling up.
Asking for assistance With Unfair HMRC Penalties
The client asked us to step in.
He wanted the penalties overturned.
He also needed help arranging Voluntary National Insurance Contributions.
Our goal was clear: correct his tax record and remove the unfair penalties.
What did we do?
Our team contacted HMRC multiple times in writing, explaining that the client did not meet the criteria for submitting a Self Assessment Return.
However, HMRC repeatedly sent automated responses insisting that a Return must be filed before an appeal could be made.
Since there was no option to submit a nil Return, we needed to escalate the issue directly by calling HMRC.
After persistent discussion and requesting that the case be reviewed by a more senior member of their team, our team were able to clearly explain the client’s situation and challenge the penalties on behalf of the client.
Result
After a 40-minute call, HMRC agreed to cancel all penalties and close the client’s Self Assessment record.
This not only saved the client over £1,500 in penalties and charges but also spared him the stress of dealing with HMRC directly.
He was extremely relieved to have the matter resolved and his record corrected.
Summary
Challenging HMRC can be a difficult and drawn-out process that often requires both time and persistence.
Our team is dedicated to ensuring clients aren’t unfairly penalised or overpaying tax, and we’re always willing to take forward enquiries on their behalf.
Getting in touch with us
If you need assistance challenging or navigating an HMRC letter or decision, we are here to help.
Take the next step and request a call back or call us directly on 01634 731390.
Our services
If you would like to find out more about some of our services that might help you please take a look at our related pages: