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  1. #41

    Some things in Moderation

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    Quote Originally Posted by Dylan View Post
    Disagree, this is the one catch all piece of legislation where we can all join together as it isn't scheme specific, will be cheap as chips!
    I think that they are suggesting that you should organise it.

  2. #42

    Still gathering requirements...


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    I think we all know who will decide to run it...

  3. #43

    Still gathering requirements...


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    Quote Originally Posted by webberg View Post
    What he said.

    If HMRC lose, then pre 2011 they say ToAA gets you and post 2011, they say Part 7A gets you.

    What's more interesting is if they win, the employer is primarily liable for tax deductions.

    Why then are they not chasing more employers?

    (We have seen a very few Reg 80 - PAYE assessments - issued very recently. Whilst one swallow does not make a summer perhaps the penny is dropping?)
    Should HMRC win, than the tax liability falls on the employer, than what happens with these loans... how are they than treated?
    Last edited by SimonJones; 1st April 2017 at 22:34.

  4. #44

    Contractor Among Contractors


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    A loan can be a payment for tax purposes.

    That same loan can be an IHT asset/liability for tax purposes.

    That same loan can have legal obligations and rights that the parties must adhere to.

    A decision in Murray that the loans are income or that the loans are loans will not bring any clarity to this position.

    Certainly I think HMRC has at best a position that is inconsistent and illogical here and I think some advisers are no better. My own opinion has gaps that I find troubling and which I'm hoping Murray will help to fill in.

    It looks as though the decision will not be out before the end of the tax year (strategic?) but hopefully will not be too long.

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