Transfer of loan charge from Employer to Employee

[stonehenge]

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.

[EBTContractor]

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.

[stonehenge]

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