Originally posted by neil99
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What is the 2019 Loan Charge?
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What is the 2019 Loan Charge?
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Originally posted by frodo View PostWhat is the objective of this charge, I mean the official objective? They are not content with pushing through some facicst legislation to tax us in a "guilty till proven innocent" fashion but also want to impose some punitive charge for being involved in a scheme in the first place? Seriously when will this end? -
Originally posted by JaredM View PostIt will end when everyone is on PAYE or the dole. Anything in between is considered tax dodging.Comment
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Originally posted by frodo View PostWhat is the objective of this charge, I mean the official objective? They are not content with pushing through some facicst legislation to tax us in a "guilty till proven innocent" fashion but also want to impose some punitive charge for being involved in a scheme in the first place? Seriously when will this end?
The "unofficial" objective is to cover up the whole bloody mess and HMRC's culpability in the whole thing over the past 16 years. This will be done by sacrificing a convenient scapegoat group.
The money is but a nice extra.
The Osborne Ultimatum: are we all being played?Comment
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Originally posted by DotasScandal View PostThe "official" objective is to "put beyond doubt that such loans are considered taxable"
The "unofficial" objective is to cover up the whole bloody mess and HMRC's culpability in the whole thing over the past 16 years. This will be done by sacrificing a convenient scapegoat group.
The money is but a nice extra.
The Osborne Ultimatum: are we all being played?
The government is also committed to ensuring that those who have used these schemes in the past aren’t allowed to get away with it.
To meet this objective, the government will introduce legislation to put beyond doubt that all loans or debts from a disguised remuneration scheme will be taxed as
earnings if they haven’t already been fully taxed or repaid on or before 5 April 2019.
So no charge if you've settled/paid APN, right?Comment
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Originally posted by frodo View PostSo no charge if you've settled/paid APN, right?
SO if for example 200k loans over 3 years from 2005-8 expect a tax bill north of 90k.
Great isn't it :-(
You could always join Big Group in the anticipation that we'll be able to negotiate a better deal with the tax man. But the bottom line is terrifying and will bankrupt thousands.Last edited by neil99; 4 August 2016, 13:19.Comment
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Originally posted by frodo View Post
So no charge if you've settled/paid APN, right?
That is regardless of whether an enquiry has been opened correctly, you have taken the CLSO, you are no longer even in the country.
Madness.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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Originally posted by webberg View PostBe nice to think so, but from conversations we had with HMRC (not the top policy makers but front line grunts) they consider that a loan FROM ANY YEAR which has not had tax applied to it, is liable to the April 2019 charge.
That is regardless of whether an enquiry has been opened correctly, you have taken the CLSO, you are no longer even in the country.
Madness.Comment
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Originally posted by webberg View PostBe nice to think so, but from conversations we had with HMRC (not the top policy makers but front line grunts) they consider that a loan FROM ANY YEAR which has not had tax applied to it, is liable to the April 2019 charge.
That is regardless of whether an enquiry has been opened correctly, you have taken the CLSO, you are no longer even in the country.
Madness.Comment
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Originally posted by ireland2013 View PostI took up the CLSO as it was a small amount and paid tax and interest and have a letter stating that I have settled. - I have no other years in question - Are you stating HMRC will apply another charge to me in 2019?Comment
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