2019 charge - reporting

[Gareth Cheeseman]

I would also be keen to add to the action group to contest this.

[webberg]

Let's be very clear.

The proposed action is to highlight unfairness in the law.

Best outcome would be to have the law changed to remove those elements which may (not will or might or probably) lead to a chance of settlement on reasonable terms.

Worst outcome is to spend some money and get absolutely nothing.

Think carefully.

[stonehenge]

The Government stands to collect a fair few £billion from the charge.

They're not going to give any of that up in a hurry.

I wouldn't be surprised to hear them spinning it as "tax avoiders to pay substantial portion of Brexit bill".

[jbryce]

If you are impacted by the 2019 charge then joining BG is a no-brainer.

[jes107]

Bankruptcy

Are them members of the bug group who are discussing and preparing bankruptcy as that i the most likely outcome for myself.

[BrilloPad]

Are them members of the bug group who are discussing and preparing bankruptcy as that i the most likely outcome for myself.

If you might go bankrupt then why wait to join BG?

If you are going bankrupt make sure you spend it before you go.....

[Worried 72]

Like others, not currently a member of big group, I'd be very interested in a group against the 2019 charge

[jbryce]

Like others, not currently a member of big group, I'd be very interested in a group against the 2019 charge

Join BG.

[HMRC made Atlas Shrug]

I'm still really confused by all this, I wonder if someone could be so kind as to clarify the following for me:

1) If your EBT loan has been formally written off over a decade ago by the trust, with all years closed, is it still caught by the 2019 loan charge? My understanding is yes because the principal loan amount is caught and it doesn't matter what has happened since then with regards to depreciation and writing off etc. (unless it has been repaid in cash). Is this correct?

Thanks.

Food for thought and please note, I don't know so I may be wrong.

My understanding is, whenever a loan is (was) written off or released, HMRC had to be notified with possible IHT implications. My guess, if (since ?) nobody notified HMRC at the time the loan was released, HMMafia will not look kindly on the receiver of the loan. My guess, note this is only my guess, HMMafia will be sending the heavies around.

I suggest getting professional advice and jump the gun if necessary.