Originally posted by Jes1
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Discovery assessment season - unexpected bills from HMRC
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How to get loans cancelled
Does anyone have any experience of getting the loan cancelled by the scheme promoter to avoid tax implications in 2019. Any suggested wording would help.Comment
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Originally posted by Dazza View PostDoes anyone have any experience of getting the loan cancelled by the scheme promoter to avoid tax implications in 2019. Any suggested wording would help.Comment
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Originally posted by Dazza View PostDoes anyone have any experience of getting the loan cancelled by the scheme promoter to avoid tax implications in 2019. Any suggested wording would help.
I suggest you try and join Big Group when it reopens. On your own you're gonna be in a world of pain.Comment
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for the avoidance of doubt, a loan release or write off etc DOES NOT avoid the 2019 charge.
HMRC claim that the only way to achieve that is to repay the loan in cash and not to get that cash back.
That claim is full of holes - and perhaps not what the law says - but you can bet your life (or wallet) that they will be advancing that argument.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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I'm not sure if I'm understanding this right so forgive me if I'm wrong.
Are the choices we either pay the e.g. £20k tax demand now or repay a £60k loan in full in 2019?Comment
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Originally posted by EBTContractor View PostOf issuing discovery assessments now when the 2019 loan charge is coming?Comment
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Originally posted by Daley View PostI'm not sure if I'm understanding this right so forgive me if I'm wrong.
Are the choices we either pay the e.g. £20k tax demand now or repay a £60k loan in full in 2019?
It's just an absurd proposition to signify that your choice is pay the tax or to pay the tax.
In 2019 they want you to pay their "new charge" (=retrospective tax).
(But of course if you can be made to pay now, all the better. A lot of things happen in 3 years' time)Last edited by DotasScandal; 3 April 2017, 21:35.Comment
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Originally posted by EBTContractor View PostOf issuing discovery assessments now when the 2019 loan charge is coming?Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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