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40,000 people to be hit by loan charge

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    #31
    I wonder what the HMRC stance is where the loan provider has dropped off the face of the earth.

    How can I arrange to repay a load when the provider no longer exists?

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      #32
      Originally posted by foobar View Post
      Honest, industrious and value-adding citizens are about to be brutally wiped out by an absolutely selfish few who simply could not care less as they themselves are unaffected. Do we deserve this treatment? You could fight by yourself and be rigorously punished or do we organise ourselves? Clock is ticking - two years will pass rapidly.
      Deserved ?

      Not really no.

      For the period dot until 2008 odd that should be treated under the law as it was then. Of course hmrc scuppered this, contrary to all judicial principles. This is when pmg stood up in the house and said "don't care about what has happened previously it is taxable." That should have been prospective.

      For the period 2008 until apn regime any loans taken then should be "at risk" of taxation when finally settled. But immune from apn.

      For the period apn until 2019 announcement. Apn fair enough. But no 2019 payment.

      Everything should be judged based upon the law in place at the time.

      The upcoming 2019 provisions by applying to pre existing loans are significantly retrospective. That is simply wrong. It is legislation that should achieve what it sets out to in the first place.

      I believe that prior to the 08 announcements loans should not have succeeded in removing the fund from the tax net. But i also believe that they did work.

      So, have holders been treated badly. Undoubtedly. But there shouldn't be a free ride for loans taken after '08.
      Last edited by ASB; 10 December 2016, 20:00.

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