What is the 2019 Loan Charge?

[needmorstuff]

Probably an excellent option for those not planning on spending 10 more of their prime years on this cr*p. If you've got loans, there is a good chance that HMRC is not your no.1 creditor.

my loans are payable in 30 years.. deprecation (inflation?) will decimate them and I'll probably be dead along with the trustees who set them up.

[DotasScandal]

my loans are payable in 30 years.. deprecation (inflation?) will decimate them and I'll probably be dead along with the trustees who set them up.

I'm afraid HMRC won't care whether your payment terms are 3 years or 300 as long as they decrete that these are "disguised remuneration" loans.

[needmorstuff]

I'm afraid HMRC won't care whether your payment terms are 3 years or 300 as long as they decrete that these are "disguised remuneration" loans.

I agree, I was referring to the loan being recalled by the trustees being a big creditor.

I am happy for HMRC to find they are disguised remuneration and then go to the employer for the PAYE and NIC as I don't personally think they will be able to change the law enough to come after me (and ex employee) for them as it would set such a powerful precedent.

[neil99]

my loans are payable in 30 years.. deprecation (inflation?) will decimate them and I'll probably be dead along with the trustees who set them up.

And IHT ?

[QCApproved]

let's keep the pressure on for getting a document for the consultation they have had 5 months now since this little gem was put out there - time to hear the particulars we need to know where stand and have our advisors know the particulars

[DotasScandal]

Just for laughs...

"Osborne’s service rewarded for ‘national importance’"

George Osborne has been awarded the companion of honour in David Cameron’s resignation honour’s list.

According to the BBC, the former chancellor’s new distinction is only reserved to 65 people, and given for service of “conspicuous national importance”. Osborne’s inclusion along with Cameron’s other nominations has been criticised by the opposition. Osborne’s special adviser, Thea Rogers, was also bestowed an OBE

Liberal Democrats leader Tim Farron accused the former prime minister of constructing a list that “would embarrass a medieval court”. While Labour’s deputy leader Tom Watson said: “Now that Theresa May has signed off on Cameron’s crony list she is completely responsible for undermining the credibility of the honours system and putting crony lawmakers into the House of Lords.”

[carling]

https://www.gov.uk/government/consul...l-consultation

More questions than answers at first glance.

[DonkeyRhubarb]

[BLACK HUMOUR]Looks like there is an easy way to avoid the charge.[/BLACK HUMOUR]

"23. However, the write off, or release, of a loan on, or after, the employee’s death will not be taxed under Part 7A, in the same way that there is no charge under section 188 in those circumstances."

[Whysoserious]

"The draft legislation in Annex A does not include provisions for these proposals"."

I lost count the amount of times I read this line.

In summary it's a list of things HMRC would love to have in place but knows it is unlikely to get.
A bit like when my kid writes his Christmas list. He starts writing that he wants a spaceship, a boat and a house made of chocolate. By the end, the list is a bit more realistic i.e. a plastic toy worth £20 and a DVD.

What policy was listed has more holes than a block of cheese.

[QCApproved]

I'm wondering if this is enough to be sent on to the ATO and IRD so that they can assess for policy