AML 2019 Loan Charge

[Nissan07]

Requested Settlement but mentioned Loans in email

I did, and I am.

My settlement figure was grim but manageable, as I've always kept a tiny bit aside for a rainy day. The issue is settlement isn't actually full settlement, if you own a limited company. I did not know this, so my ltd company now has a tax bill that is almost the same size.

So for ease, I accept the TA's calcs thinking i owe £1k. And now I'm trundling down the settlement route I find I owe about £1.85k. Fake numbers, same theory. It's killed my motivation to do anything.

I requested a settlement from HMRC, but used the term "loans" in the email, which HMRC seemed to pick up on "you’ve reported the amounts paid to you & described as loans from xxx" - should I be concedrned about that?

[here4beer]

I think I just responded to you on another thread. HMRC want you to give up and settle. Have you spoken to an advisor (eg WTT or DSW)?

I did, and I am.

My settlement figure was grim but manageable, as I've always kept a tiny bit aside for a rainy day. The issue is settlement isn't actually full settlement, if you own a limited company. I did not know this, so my ltd company now has a tax bill that is almost the same size.

So for ease, I accept the TA's calcs thinking i owe £1k. And now I'm trundling down the settlement route I find I owe about £1.85k. Fake numbers, same theory. It's killed my motivation to do anything.

[NeedTheSunshine]

I could be wrong, but as time goes on - more and more people (like me) give up and settle. Therefore there's less and less people still active to fight. I'm drained, and it's still going on.

I think I just responded to you on another thread. HMRC want you to give up and settle. Have you spoken to an advisor (eg WTT or DSW)?

We all get those days when the whole thing just grinds you down and the stress and anxiety goes through the roof. However, there are people actively fighting and their numbers seem to be increasing not decreasing.

It's been mentioned on here a few times lately but LCAG are doing great work - joining them really helped me and changed my mindset. I'm not going down without a fight! If you'd asked me the same question months ago, I would have been the prophet of doom.

[here4beer]

Hey, have you all contacted your MP to request they sign the Early Day Motion expressing their concern about the loan charge? It needs half the MPs to sign it in order for it to be debated in the house. If you haven't contacted your MP, please do so - a tweet or email works.
THE 2019 LOAN CHARGE - Early Day Motions
Together, we can defeat this.
:-)

I could be wrong, but as time goes on - more and more people (like me) give up and settle. Therefore there's less and less people still active to fight. I'm drained, and it's still going on.

[Car]

Hey, have you all contacted your MP to request they sign the Early Day Motion expressing their concern about the loan charge? It needs half the MPs to sign it in order for it to be debated in the house. If you haven't contacted your MP, please do so - a tweet or email works.
THE 2019 LOAN CHARGE - Early Day Motions
Together, we can defeat this.
:-)

[Specsgalore]

Not advocating anything illegal under British law of course .

Really?

[sst2019]

Quite easily - they date Tory peers
Michelle Mone's boyfriend linked to GBP13m offshore tax dodge - Daily Record

This chap Doug Barrowman, if he has a private super yacht that undoubtedly sales in international waters, I am sure some members here have ties with friends abroad outside British jurisdiction. Thereby if it is anywhere near the horn of Africa or gulf of Aden strange things do happen especially if you don't have the right private security contractors looking after you. There are organisation based in UAE or west Africa that do private security contracting and risk neutralisation. I am sure if the 100000 plus contractors affected donate even 100 GBP would help alleviate their frustration. Not advocating anything illegal under British law of course .

[dammit chloe]

IMHO, Specsgalore has made a perfectly reasonable request and some of the remarks in the replies aren't exactly 'brotherly' and probably also "...guaranteed to put backs up.."! For starters, without for one moment questioning the motives or achievements thus far of LCAG, any organisation that takes money from people must surely have some accountability and a person (or persons) willing to engage with those who are interested in joining them. I'm not a member of LCAG but, like Specsgalore, might be prompted to join if I had means of speaking to someone.

You can sign up with LCAG as a guest for 2 weeks and ask questions in the guest forum. The guest option has been there for a long time and questions get responded to pretty quickly. You are not prompted for a credit card or anything like that.

There is no number to call, with the exception of a helpline for those struggling, we simply don't have that capacity.

Last year finding info on LCAG was tricky and I could understand people being dubious, especially with so many scammers out there.

However there have been so many achievements in the last few months, support from MPs, news articles etc that I don't believe this is any longer true.

It's an action group, that's its purpose. To co-ordinate and direct action. Yes some communication aspects could be improved but everything takes money and/or time and other priorities, including people's work and home life, exist.

If you are exposed to the Loan Charge and you want to fight it then it has to be done as a group unless you are very rich. LCAG is the best first step, IMO.

[Delendog]

IMHO, Specsgalore has made a perfectly reasonable request and some of the remarks in the replies aren't exactly 'brotherly' and probably also "...guaranteed to put backs up.."! For starters, without for one moment questioning the motives or achievements thus far of LCAG, any organisation that takes money from people must surely have some accountability and a person (or persons) willing to engage with those who are interested in joining them. I'm not a member of LCAG but, like Specsgalore, might be prompted to join if I had means of speaking to someone.

Action - Loan Charge Action Group

I was prompted to join because HMRC are after £150K+ from me so I saw £150 as money well spent and is has and is being.

[Centrick]

It's more about what you can do for LCAG really. It is not a club with benefits as such, it's a volunteer group that helps co-ordinate actions against the LC.

The membership fee is required to cover political lobbying advice, some marketing and APPG expenses.

Additionally we are looking for contributions to the Judicial Review. Advice behind this will only be available to those who contribute.

As for reasonable, maybe but only barely. There is plenty of information to read and see on what is being done by LCAG. It is clearly a political lobbying group not a dinner club or gym.

If there is one thing that is guaranteed to put backs up though it is people who expect others to solve their problems while taking no action themselves.

IMHO, Specsgalore has made a perfectly reasonable request and some of the remarks in the replies aren't exactly 'brotherly' and probably also "...guaranteed to put backs up.."! For starters, without for one moment questioning the motives or achievements thus far of LCAG, any organisation that takes money from people must surely have some accountability and a person (or persons) willing to engage with those who are interested in joining them. I'm not a member of LCAG but, like Specsgalore, might be prompted to join if I had means of speaking to someone.