Individuals who used a contractor loans scheme before 2011 now have until 30 June 2015 to indicate to HMRC whether or not they wish to participate in the Contractor Loans Settlement Opportunity (CLSO). The date for finalising settlements under the CLSO is 30 September 2015.
The vast majority of contractors will be able to take advantage of the CLSO, and Moore Stephens has enjoyed a great deal of success on behalf of clients who are looking to avoid their case potentially reaching the Tax Tribunal.
HMRC has confirmed that they might issue Accelerated Payment Notices (APNs) to users of contractor loan schemes before 30 June 2015, therefore anyone considering participating in the CLSO is encouraged to seek professional advice urgently.
Moore Stephens has acted for a number of clients who were able to settle with HMRC on much more favourable terms than had they proceeded without professional representation.
For further information on the CLSO please speak to a member of our Tax Investigations & Disputes team.
Dominic Arnold 020 7651 1638 firstname.lastname@example.org
Matthew Watkins 020 7651 1623 email@example.com
24 hour tax investigations and disputes hotline on 0207 651 1400 or email firstname.lastname@example.org.