What is the 2019 Loan Charge?

[BrilloPad]

Who knows, when HMRC keep moving the goal posts.

Indeed. Are they settling with anyone at the moment?

[ConfusedEasily]

What I find particularly ******* amusing is that the experts - ILikeTax and Webberg, etc. have no idea what HMRC are doing, not because they are idiots but because HMRC is unable to provide clarity on anything.

It is embarrassing and indicative of the really low quality of staff and thinking that the civil service is applying to this. I'd like to think it's because their finest minds are worrying about Brexit, but I fear it's because their finest minds left public service a long time ago.

[BrilloPad]

What I find particularly ******* amusing is that the experts - ILikeTax and Webberg, etc. have no idea what HMRC are doing, not because they are idiots but because HMRC is unable to provide clarity on anything.

It is embarrassing and indicative of the really low quality of staff and thinking that the civil service is applying to this. I'd like to think it's because their finest minds are worrying about Brexit, but I fear it's because their finest minds left public service a long time ago.

Why should they provide any clarity when they can do what they want, when they want?

[SandyD]

Hi, sorry to barge with a question here without having the chance to read all the thread, is the loan charge 2019 applies to loans from EBT only, or would it also apply from my ltd to personal /director loan, or from one ltd to another ltd (e.g. from my contractor ltd to another investment ltd owned by same director?)

[northernladuk]

Hi, sorry to barge with a question here without having the chance to read all the thread, is the loan charge 2019 applies to loans from EBT only, or would it also apply from my ltd to personal /director loan, or from one ltd to another ltd (e.g. from my contractor ltd to another investment ltd owned by same director?)

You could type '2019 Loan Charge' in to google and read the first link which will answer your question.

[ConfusedEasily]

You could type '2019 Loan Charge' in to google and read the first link which will answer your question.

Indeed, also a great quote from the same site.

In my view, these new rules are pernicious, potentially unlawful (and certainly against the extra statutory protocol) and arguably unnecessary.

[Iliketax]

or from one ltd to another ltd (e.g. from my contractor ltd to another investment ltd owned by same director?)

You probably won't get an answer on the internet to that one. You will need to pay for some professional advice bespoke to your own situation. When you do, mention the "close companies' gateway" and the ICAEW's 13 October 2017 representation on the draft Finance Bill. The legislations been toned down a bit in the Finance Bill so not all that the ICAEW says is still relevant.

[foobar]

What I find particularly ******* amusing is that the experts - ILikeTax and Webberg, etc. have no idea what HMRC are doing, not because they are idiots but because HMRC is unable to provide clarity on anything.

It is embarrassing and indicative of the really low quality of staff and thinking that the civil service is applying to this. I'd like to think it's because their finest minds are worrying about Brexit, but I fear it's because their finest minds left public service a long time ago.

Agreed. Any pen pusher with half a brain has long since left. All that is left is the chaff.

[Socialsarah73]

Stupid question

received my P11d which identifies my employee loan but it says it was discharged - what does this mean?

[ConfusedEasily]

received my P11d which identifies my employee loan but it says it was discharged - what does this mean?

It means you probably owe IHT...

Join Big Group, get an accountant or get advice from WTT - they'll chat with you on the phone...