Will the 2019 charge include interest or not
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    Default Will the 2019 charge include interest or not

    Apologies, I've read many threads on this subject and there does not seem to be agreement over whether paying the charge would incur an interest penalty or not. Is there any way to get a definitive view on this, or are HMRC just keeping us all guessing?

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    Quote Originally Posted by MonkeyM View Post
    Apologies, I've read many threads on this subject and there does not seem to be agreement over whether paying the charge would incur an interest penalty or not. Is there any way to get a definitive view on this, or are HMRC just keeping us all guessing?
    My understanding is that the loans just have to be declared and become taxable. no interest or penalties.

    I may be wrong though

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    Also worth remembering at the moment the tax charge falls on the employer, not the employee.

    There is a whole world of employment and tax law to overcome to transfer liability from the employer to the employee.

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    Quote Originally Posted by Whysoserious View Post
    Also worth remembering at the moment the tax charge falls on the employer, not the employee.

    There is a whole world of employment and tax law to overcome to transfer liability from the employer to the employee.
    Haven't most of the employers disappeared though?

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    From another thread on this forum, apparently there will also be IHT added at some point due to HMRC will have more and exact details especially from people who would have settled by then.
    Last edited by Logical; 12th April 2017 at 13:59.

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