What is the 2019 Loan Charge?

[EBTContractor]

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

Makes no references to what happens if people have long since moved overseas.

[DonkeyRhubarb]

I don't see how they could levy the charge if you're non-resident when it bites.

[dezze]

[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."

Sadly, this may actually prove to be the case for a number of those where losing everything is a worse option.

[Dylan]

Sadly, this may actually prove to be the case for a number of those where losing everything is a worse option.

Yep, can see people killing themselves to ensure that their children still have a home...

[needmorstuff]

"The loan charge requires the existing gateway conditions to be met or the newly proposed closed company gateway conditions to be met" not verbatim.. but this seems Fairly significant.

[dezze]

2019 Loan Charge "Consultation"

Yep, can see people killing themselves to ensure that their children still have a home...

Agreed. Also people in my situation - 50's, no kids getting divorced with the potential (based on what happens in 2019) with bankruptcy...do I really want to have no assets, probably no job (I'm a permie now and expect bankruptcy to be an issue) surviving off the state in some dive B&B? I doubt it.

[webberg]

Please see the new thread I've just posted asking for participation in a survey on this.

I would appreciate your help.

[DotasScandal]

Please see the new thread I've just posted asking for participation in a survey on this.
I would appreciate your help.

Here

[back2thefu1ure]

i have been reading all the posts on various threads and to be honest im actually disgusted than im a British citizen... The laws in this country are a bloody joke.
So these barstewards were fully aware of these schemes from day one but choose not to do anything about it...then years later, like the thieves that they are they decide to retrospectively change the law to screw people over.
Sorry thats not on.
On top of that, where is all this extra revenue going? is it going into our schools? NO...Is it going into the NHS...hell NO...Is it going into public services? Definitely not...I will tell you where its gone/going...to fight illegal wars...trillions upon trillions...
600 million per day in Iraq...a** holes...and then they have the nerve to also destroy the lives of many in this country with this BS.

[DotasScandal]

Nicely summarized!