Trust Loan Agreements (terms 5-10 years) what are our legal options? (no BG please)

[Aki1]

Prevvvious years were no APN was issued

Phone HMRC. On the cslo number. They reply and can be helpful.

thank you - I will do that - but before doing so - does anyone know with the new legislation - if I will have to pay anything in regards to years 2004 - 2009 - No APN's were issued for this period - are they considered closed? - apologies my knowledge of tax is at best woefull

[me206et]

thank you - I will do that - but before doing so - does anyone know with the new legislation - if I will have to pay anything in regards to years 2004 - 2009 - No APN's were issued for this period - are they considered closed? - apologies my knowledge of tax is at best woefull

Unfortunately the loan charge covers all the way back to 1999. It's a con, totally unjust and totally retrospective. I could go further.
If you have no enquiries etc then there should be no interest charges on those years.

You need to read up on this, there is a clso2 but time is running out.

[Aki1]

Retrospective Payment

That has totally flummoxed me - I supplied details of all my earnings to HMRC under CLO1 - I need to get some advice urgently as I feel sick - I have send PM's to some of the people on this forum who seem to assisting others. Thank you for taking the time to respond to me

[me206et]

That has totally flummoxed me - I supplied details of all my earnings to HMRC under CLO1 - I need to get some advice urgently as I feel sick - I have send PM's to some of the people on this forum who seem to assisting others. Thank you for taking the time to respond to me

Try phoning Phil at dsw. Google will find him, or big group. They will both talk to you initially for free.

My take on that is Phil is more sorting settlement. Big group seem to have a plan and seem to not go for settlement, but might save you a little bit.

Sorry I cannot be if more help, just a little cog like you being screwed over by HMRC.

[cojak]

Be aware that this is NOT the Big Group thread.

[me206et]

Be aware that this is NOT the Big Group thread.

I know, i cannot believe I suggested it. But the poster needs to talk to someone.

[lowpaidworker]

What Loans are captured

Ive just be told that loans made direct by your employer are not caught out by the 2019 Loan Charge?

Is this true... anyone know ?

[regron]

Ive just be told that loans made direct by your employer are not caught out by the 2019 Loan Charge?

Is this true... anyone know ?

I would say you need to speak to a tax advisor and provide more specifics of how this works however, even if it isn't caught by the Loan Charge be very careful, as it will almost definitely be caught by something else further down the line. My advice, don't do it or if you are already in, get out !!

[lowpaidworker]

I would say you need to speak to a tax advisor and provide more specifics of how this works however, even if it isn't caught by the Loan Charge be very careful, as it will almost definitely be caught by something else further down the line. My advice, don't do it or if you are already in, get out !!

I got out a good few years ago but do have some older years under a loan scheme. I am trying to work out whether I need to engage to settle for some old years as I haven't yet. I wrote to my employer asking for their opinion and they said as they were direct loans from your employer they were not eligible for the LC?

Last letter I got from HMRC said they were investigating ?

[regron]

I got out a good few years ago but do have some older years under a loan scheme. I am trying to work out whether I need to engage to settle for some old years as I haven't yet. I wrote to my employer asking for their opinion and they said as they were direct loans from your employer they were not eligible for the LC?

Last letter I got from HMRC said they were investigating ?

Glad to hear you got out. Do not take the advice of your employer, who I guess is part of the scheme you was in ? Speak to an independent tax specialist (there are at least 2 regular ones who post on here and have lots of knowledge around this area). Like I say, there are schemes out there that may well escape the loan charge for now, but I very much doubt they will survive the ongoing onslaught we are seeing from HMRC. Please seek professional advice.