• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Transfer of loan charge from Employer to Employee

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Transfer of loan charge from Employer to Employee

    Apologies if this has already been covered on the forum.

    I found this quite a good explanation.

    April 2019 Loan Charge – Transfer of liability to employees | C3Insight

    This is the HMRC technical note.

    https://www.gov.uk/government/public...r-of-liability

    One slight positive to come out of this is that employees won't have to pay any NICs.

    #2
    So come Janaury 2020 I will only have to pay income tax with no Class 1 NICs due?

    Will the 2019 charge ignore years where you were employed or self-employed and just tax the loans as an income lump sum?

    E.g. if I settled now I'd have to pay Class 4 NICs as I was self-employed for some years.

    Comment


      #3
      I think the charge would still include NICs for the periods where you were self-employed.

      Comment

      Working...
      X