Anything pre-2011 should absolutely be thrown out & all closed years should stay closed. Wishful thinking though probably.
There does seem to be a slight thawing in their attitude on TTP / enforcement, although actions will speak louder than words on that one. I don't believe they won't press for bankruptcies.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Loan charge - review outcomes - impact on settlement
Collapse
X
-
Originally posted by mr_786 View PostWhy do you say 2011 specifically? Just curious... as my loans are after 2011
Not that I think they are ready for any sort of compromise yet. I am just suggesting that if there is it will probably use landmarks dates or tax status rather than invent something new. This would make it clear and easy to implement. It could equally well be closed years are recognised as closed as per House Of Lords recommendations.Leave a comment:
-
Originally posted by mr_786 View PostWhy do you say 2011 specifically? Just curious... as my loans are after 2011Leave a comment:
-
Originally posted by dammit chloe View PostNo. There may be some concessions but I doubt that it would be wholly removed. If there is enough pressure there may be a partial concession maybe from 2011, as suggested, or closed years remain closed. Any concession would have to tie into existing legislation somehow, not create some new class of legislation.Leave a comment:
-
Originally posted by mr_786 View PostDoes anyone believe genuinely that review might remove the retrospective nature of the loan charge? I am hoping against hope ....Leave a comment:
-
Originally posted by mr_786 View PostDoes anyone believe genuinely that review might remove the retrospective nature of the loan charge? I am hoping against hope ....Leave a comment:
-
Any realistic hope?
Does anyone believe genuinely that review might remove the retrospective nature of the loan charge? I am hoping against hope ....Leave a comment:
-
Originally posted by freddythefrog View PostI'm a bit confused here, are we saying that any loans prior to 2010 should be classed as closed years? I have loans dating back to 2005 and are still open?
Read the first message on the thread.Leave a comment:
-
Originally posted by ContractorSeven View PostHang on... let me check I have this right. I don't have any open years and all of my loans are for closed years pre-2010. If I make this assumption then I won't owe anything at all. What am I missing?Leave a comment:
-
Originally posted by Erhaab View PostI'm gearing up to settle but as around 50% of my loans are in unprotected years I'm following webberg's strategy of progressing to the point of contract and then waiting for the review.
My current challenge is how to make sure HMRC structure the contract in a way that will allow me to settle just the protected years (should the loan charge be amended) or settle both protected and unprotected years (should the loans charge remain unchanged).
Am not sure if I should ask for separate contracts for the protected and unprotected years or whether a single contract provides the flexibility (I haven't seen a contract). Would appreciate the views of anyone else in a similar position.
If your contract includes both open and closed years, then that is the settlement.
If you want to settle open years only, your contract needs to be open years only.
Write and tell HMRC you want to settle open years only.Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: