toffeeboy
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Post by toffeeboy on Apr 18, 2023 11:33:15 GMT
As you are claiming the interest as part of the loss then I am assuming that you had already paid tax on the interest when it was earned even though it wasn't paid as then I can understand why it would be allowable as a loss otherwise you are claiming something as a loss that you never paid tax on in the first place.. I am not sure what you edit example has to do with any of this. As a polite suggestion I would caveat your posts if you are going to mention things like this as it could be taken that you are offering advice (incorrect advice in my view) that others may use im not going to go on explaining.. its all above. But you haven't explained anything. It sounds like you have explained to HMRC as little as you have explained here and got the answer you wanted so don't actually want to hear the truth. You call it interest earned therefore suggesting you have declared it and paid tax on it but it was never actually earnt. If you didn't pay tax on it and are claiming it as a loss then you are into tax evasion territory whatever you claim HMRC told you.
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Post by martin44 on Apr 22, 2023 17:19:20 GMT
im not going to go on explaining.. its all above. But you haven't explained anything. It sounds like you have explained to HMRC as little as you have explained here and got the answer you wanted so don't actually want to hear the truth. You call it interest earned therefore suggesting you have declared it and paid tax on it but it was never actually earnt. If you didn't pay tax on it and are claiming it as a loss then you are into tax evasion territory whatever you claim HMRC told you.Then i will leave HMRC to tell me different, and if they do, i'll pay the difference... dont worry yourself.
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Mousey
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Post by Mousey on May 2, 2023 17:32:15 GMT
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Post by gaza77 on May 2, 2023 18:32:17 GMT
Are we likely to see any of this money or will it go elsewhere?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 2, 2023 19:31:48 GMT
Are we likely to see any of this money or will it go elsewhere? Under the proposed agreement with LAG on the outstanding issues, lenders will get the benefit of any proceeds after costs/fees
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Post by nbk on May 10, 2023 11:29:29 GMT
Do we have any more detail on the 'LENDY EXPECTS TO RECOVER MORE THAN £8,000,000' quote and what substantive basis there is for that position ? If this is just a case that is being taken to trial (likely over a year away), why would they 'expect' to win it, or 'expect' to be give that level of award by the judge, or 'expect' the defendants to even have that money to pay in the first place - perhaps they would just fold themselves ?
My £6k in the London loan is held through a company that no longer has any income or assets. I'm trying to decide whether to keep it open in the hopeful event that some of the loan will be repaid (probably still years away) or close it to avoid the annual accountancy and other admin costs.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 10, 2023 11:42:46 GMT
"....avoid the annual accountancy and other admin costs."
It will cost you all of £13 pa and nothing more to keep your company dormant and it's a doddle to do it yourself online, absoultely no need to pay an expensive Accountant.
"Dormant companies can file their confirmation statement online for a fee of £13. A company does not need to tell Companies House if they restart trading."
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Post by nbk on May 11, 2023 8:26:53 GMT
"....avoid the annual accountancy and other admin costs."It will cost you all of £13 pa and nothing more to keep your company dormant and it's a doddle to do it yourself online, absoultely no need to pay an expensive Accountant. "Dormant companies can file their confirmation statement online for a fee of £13. A company does not need to tell Companies House if they restart trading." Well , going through the 'dormant' route for my company isn't really an option (for complicated reasons that I won't go into on this board). My real question in original post was to understand if anyone has an understanding of how likely the admins are to get compensation of £8mm and the use of the phrase 'expected to recover £8MM' seems to indicate more confidence that you might expect at this stage - especially for such a large figure.
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Mousey
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Post by Mousey on May 11, 2023 16:42:04 GMT
Do we have any more detail on the 'LENDY EXPECTS TO RECOVER MORE THAN £8,000,000' quote and what substantive basis there is for that position ? If this is just a case that is being taken to trial (likely over a year away), why would they 'expect' to win it, or 'expect' to be give that level of award by the judge, or 'expect' the defendants to even have that money to pay in the first place - perhaps they would just fold themselves ?
My £6k in the London loan is held through a company that no longer has any income or assets. I'm trying to decide whether to keep it open in the hopeful event that some of the loan will be repaid (probably still years away) or close it to avoid the annual accountancy and other admin costs.
Hi NBK, I have written a full article about this, which is on my website. It identifies the borrower and the asset so can't be linked to directly. The quote comes from the claim form filed at the High Court. I am not able to assess how accurate this may be or in a position to provide advice on company dealings.
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Post by martin44 on May 12, 2023 22:31:11 GMT
Not sure if this is the right thread , and frankly dont give a toss.. my total owed was 42k .. been payed back 1.5k ... now my total is ~36k
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quidco
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Post by quidco on May 13, 2023 7:25:53 GMT
"Expects to recover" is a little clicky baity is it not? They've just filed a claim is all
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Mousey
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Post by Mousey on May 13, 2023 11:22:23 GMT
"Expects to recover" is a little clicky baity is it not? They've just filed a claim is all It's a direct quote from the claim form.
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Balder
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Post by Balder on May 13, 2023 14:58:29 GMT
well they couldn't say we haven't got a chance but we will try on the form!
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quidco
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Post by quidco on May 14, 2023 7:35:00 GMT
Do we have any more detail on the 'LENDY EXPECTS TO RECOVER MORE THAN £8,000,000' quote and what substantive basis there is for that position ? If this is just a case that is being taken to trial (likely over a year away), why would they 'expect' to win it, or 'expect' to be give that level of award by the judge, or 'expect' the defendants to even have that money to pay in the first place - perhaps they would just fold themselves ?
My £6k in the London loan is held through a company that no longer has any income or assets. I'm trying to decide whether to keep it open in the hopeful event that some of the loan will be repaid (probably still years away) or close it to avoid the annual accountancy and other admin costs.
You could just file dormant accounts
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quidco
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Post by quidco on May 14, 2023 7:35:43 GMT
"Expects to recover" is a little clicky baity is it not? They've just filed a claim is all It's a direct quote from the claim form. Apologies I think it's them that's over egging it
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