[QUOTE=Toocan;687280]I don’t think HMRC know the scale of loan based schemes as some of them do not have to be declared and the only change to the tax return is a low level of income.
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The loans may not need to be included on a tax return but if they are part of a tax avoidance scheme wouldn't the scheme have to be notified to HMRC?
I'm sure HMRC are aware of the scale of them but of course they will only become officially aware just before they introduce retrospective legislation to attack them.
When you have got retrospective legislation up your sleave, you don't need to hurry to do anything which obviously fits in quite nicely with the culture at HMRC!!!
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The loans may not need to be included on a tax return but if they are part of a tax avoidance scheme wouldn't the scheme have to be notified to HMRC?
I'm sure HMRC are aware of the scale of them but of course they will only become officially aware just before they introduce retrospective legislation to attack them.
When you have got retrospective legislation up your sleave, you don't need to hurry to do anything which obviously fits in quite nicely with the culture at HMRC!!!
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