Tax Repayment.

[jmh]

Good morning all. After totally messing up whilst filling in my self assesment of 2009, I received a tax payment from HMRC for just over £3000.
I spent it, obviously, and after an investigation the tax man now wants me to pay back £3345.16. I have not got the original money nor anything in savings, how likely are they to accept this payment in installments of £25 a month for as many years as it takes?
Also, I kept a log whenever I contacted HMRC asking for help when I was completing the self assesment, four times my request for help was ignored and three times I was obviously given incorrect advice by three different people, therefore, how likely is it that they will not charge me interest because of their incompetence?
(I will be ringing them at lunchtime to ask the above but just want to find out if anyone has any experience regarding the above before I call them.)

[Telometer]

I suggest you beg, borrow or steal the money. No, they will not accept £25 per month - until about 2025!!! Think yourself lucky that you haven't (yet) had a fine of £3345.16 to pay as well, they are in the habit of fining people for this sort of thing. And next time, pay an accountant to do your tax returns.

[jmh]

So even though I had help when I was completing the self assesment from three different HMRC employees, the fact that they mis-advised me means nothing?! If this is the case, why on earth do they employ anyone?! This is without even mentioning the letters, faxes and online contact that was ignored?
And if I cannot "beg, borrow or steal" £3345.16 what then?! They cannot take money that is not there!
Anyway, I shall be ringing them in under an hour so I guess we'll see what they say then!

[rmmc]

So even though I had help when I was completing the self assesment from three different HMRC employees, the fact that they mis-advised me means nothing?! If this is the case, why on earth do they employ anyone?! This is without even mentioning the letters, faxes and online contact that was ignored?
And if I cannot "beg, borrow or steal" £3345.16 what then?! They cannot take money that is not there!
Anyway, I shall be ringing them in under an hour so I guess we'll see what they say then!

I am afraid, the telephone advice by the HMRC IS NOT BINDING. You can not reply upon on it.

Few months ago there was a case, where a company relied upon advice given by vat advisor which was incorrect. The adviser duly made notes on the file. Subsequently, during the compliance visit, HMRC, demanded about £300k in vat under payment. This went to tribunal and guess what who won? The HMRC.

Recently HMRC also published Statement of Practice which clearly states that telephone advice give is not binding and you can not use in support of your argument.

As Telometere, suggested find an accountant to do for you.

[TaxationPete]

They will also charge you interst on the outastanding balance which will rip your arms off, so if it is valid then pay it off ASAP. Regards Peter

[jmh]

Thanks for advice, as expected they would accept no less than £200 a month.
The flat that I let out is just too much hassle now, so I am selling.
I don't need to make a profit, my desire to get rid of the property is far higher than my desire to make a profit, all I want is to make sure the mortgage is paid, so I'm looking into these "selling properties for cash quick" companies. Does anyone have any experience of them at all?
I understand I'll be selling at up to 20% below market value and am fine with this. Or alternatively, is anyone on this board interested in a good investment property? (And it IS a good investment, if, unlike me, you can run it properly!) Always have a waiting list of tenants as in very desirable location.

[Telometer]

Try asking a local estate agent or three, they are likely to have tame property investors who would be delighted to buy it at a smaller discount than 20% BMV.