Has HMRC finally lost it?

[Tom Egerton]

Client owes around £4,800 in taxes and has no job or liquid assets. Reached an interim agreement some months back to pay £5 per month for 6 months at which time a review would take place. Review has now taken place and he has received a letter agreeing that the £5 per month can be continued until 30 June 2089!

He has calculated that he will be 135 years old before debt is finally extinguished. It looks a pretty valid contract to me and to my simple mind his executors could take over the arrangement.

We know our grandchildren will be paying off the government's recently created debt (let's say by 2050) so is this a world record?

[KM-Tiger]

Perhaps they have access to better actuarial figures on life expectancy?

[Arcadian]

It was nearly 4 o'clock when the collector did the review and he wanted to go home.

Maybe the internal instructions have changed in these 'ard times. Maybe the deal is to keep payments coming rather than push for the whole lot and fail to get it.

I suspect they would chase excutors for the whole lot once the client dies. Can you imagine inheriting a deal with HMRC and passing it on to your own heirs? You'd be really popular with your relatives. I won't let my hubby read this. We have no children and he's always trying to find ways to spike the cousins' inheritance. Personally I favour spending it.

[yorkshirejames]

Wow! Can you try to get it dropped to £1 a month I wonder?

[Tom Egerton]

Yes, that would be a challenge, wouldn't it?

[KidsBeeHappy]

Pay heed anyone stuggling with tax bills and too scared to approach the revenue. Is it interest free too?

[Zeno]

Where did HMRC ever have it?

[David Griffiths]

Is it interest free too?

They allow you to keep the interest so that you can feed those little piggies as they go flying past! :p

That's a No, by the way.

[skakes]

But what about the reciprocal taxation arrangements between here and heaven (or hell)? After cloud computing, why not cloud taxation.