AML 2019 Loan Charge

[kentishlad]

I got a letter yesterday. I'm currently paying back £3,400 tax on a monthly basis over a year (i was only with AML for 4 weeks thank God). I simply rang them and after tapping my payment plan reference into the computer they told me to disregard yesterday's letter. As long as I stick to the agreement I will be exempt from the Loan Charge.

£3,400 for just 4 weeks??? You must have had a high daily rate. You must be one of the luckier ones in all this

[BankingContract0r]

£3,400 for just 4 weeks??? You must have had a high daily rate. You must be one of the luckier ones in all this

Would be around £450 a day - would have thought it's inline with lots of people who used these schemes.

[Jonmh]

I was offshore on around £430 a day. Yes I do count myself as being very lucky as I could easily have stayed on that job for a lot longer. I left for a longer term PAYE role.

[Newbee0418]

Paid via loan but not by Trust...

Hi,

This has probably been already answered previously but thought to ask the question; I am being told that the 2019 LC doesn't affect me because I was paid via a loan but not from a trust - is this correct?

Thanks,
Newbee

[cojak]

Hi,

This has probably been already answered previously but thought to ask the question; I am being told that the 2019 LC doesn't affect me because I was paid via a loan but not from a trust - is this correct?

Thanks,
Newbee

Who told you this? An independent tax advisor or someone associated with your loan provider?

[Newbee0418]

Who told you this? An independent tax advisor or someone associated with your loan provider?

This was advised by the loan provider for the loan I had.

[cojak]

This was advised by the loan provider for the loan I had.

Then I would get independent advice to confirm this because I don’t think it’s correct.

[Newbee0418]

Then I would get independent advice to confirm this because I don’t think it’s correct.

Will do - thank you cojak.

[GUD]

Loan Charge Action Group - Impact Statements send now!

Please send your impact statements to LCAG at "[email protected]" so that they can raise it with various stakeholders. Every single submission counts for them! So, please put together your thoughts and send them by email. The statement could be of any size ranging from one paragraph to 10 pages. Try to convey how long you used the arrangement and reason for using the same. Then how this loan charge has and will impact your financial condition, family, health, mental wellbeing, career and future. How your life has changed from before loan charge/ APN to now. Its our opportunity to make our voice heard -make it count!!

[esemi]

We've made the news again...
https://www.telegraph.co.uk/tax/news...emes-set-miss/