Need to check the details but I'm sure loans i have received have been subject to interest which is claimed at year end and stated on my P60. Whatever the amount does this still mean its an EBT loan and liable for tax? I originally thought it was only interest free loans that were being chased.... but then I'm a trusty type
On my P11D for 14-15 for instance it states the loan amount , 5 figures, and also the amount left after interest charged, 3 figures, which is a lot less. This is all declared on the P11D which HMRC get a copy of so the loan has been declared,on the right form as a benefit, and open to HMRC so they can't claim it wasn't. Is that a reasonable and correct assumption ? Or is the same as everyone and I can still expect a tug at some stage ?
I don't send of a SA form as HMRC told me a couple of years ago not to bother anymore unless something materially changed...which it hasn't. So the P11D and P60 is their record. I will look for good advice from a tax consultant when I can find a good one although there are a few locally to me in Basingstoke but just interested what the view is here ?
On my P11D for 14-15 for instance it states the loan amount , 5 figures, and also the amount left after interest charged, 3 figures, which is a lot less. This is all declared on the P11D which HMRC get a copy of so the loan has been declared,on the right form as a benefit, and open to HMRC so they can't claim it wasn't. Is that a reasonable and correct assumption ? Or is the same as everyone and I can still expect a tug at some stage ?
I don't send of a SA form as HMRC told me a couple of years ago not to bother anymore unless something materially changed...which it hasn't. So the P11D and P60 is their record. I will look for good advice from a tax consultant when I can find a good one although there are a few locally to me in Basingstoke but just interested what the view is here ?
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