AML 2019 Loan Charge

[Specsgalore]

Not advocating anything illegal under British law of course .

Really?

[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.
:-)

[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.

[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]

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.

[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 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?

I'm not a TA, I'm using one. I'd have thought however, if you're settling to avoid the loan charge it doesn't matter what the money is dressed up as. It is a loan thou, so i don't see the issue. If you'd have called it 'income' I'd be slightly more concerned.

[Yates1992]

Hi
New poster on here and probably as worried and confused as a number of other people here.
I only used the scheme for around 8 months and have started to go down the route via a company called PTS Limited (as advised in the original letter form Knox and SP Management).
Apparently I have to give PTS limited my permission to approach SP Management Limited to find out what my figures are. Strangely enough, SP Managment themselves say that this information is held by an 'old SP Management' company (which I cant differentiate from the existing one) which PTS will approach... (why cant SP Management contact SP Management for this?).
If I recall correctly I was on a certain scheme from October to April when SP Management changed the terms and shifted the arrangement to Malta. As a settlement of tax would this only cover the October to April period? (6 months)

Hi Did you get anymore information on this? Im only back in UK recently and was part of SP Management Scheme from 2015- 2017 before shutting down my company. I only heard any this loan charge on Friday when its to late to settle now I have no idea what to do, and if I do settle what would stop Knox house from coming after the loan?

[cojak]

I have moved THL posts to here:

https://www.contractoruk.com/forums/...e-company.html

[ShockedConfused]

I have been given a settlement figure by hmrc, i only had a small loan period with smartpay and aml i have less then two weeks to reply as been away.
my settlement is just under 2k.

so if i settle with them and then try and get the loan written off will i owe more money to hmrc ?

also not happy with email i got from knox house saying they sold on there obligation.