Originally posted by dammit chloe
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Loan Charge review - round #2
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Originally posted by Kladderadatsch View PostApprox 10 years ago my loans were technically paid off by taking a short term bridging loan to pay off the loan which was later paid off by a distribution from the trust. In this case I thought you needed to report the loan values paid to you from the period. I didn't think there was the option of reporting nothing as HMRC regard the repayment as contrived.Comment
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Originally posted by CanPayButWouldRatherNot View PostDMB will be a pain but you can arrange a decent TTP option with them .. .especially if there is no choice .. prepare a list of what you can afford to pay and dont get sucked into borrowing/remortgaging and putting your world at riskComment
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Originally posted by zal View PostVery true. I was appalled by the DM Dept asking me to take out credit card loan to repay the APN.Comment
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Originally posted by jbryce View PostIf you can evidence that. pass it to LCAG. That's very naughty of HMRC.Comment
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Reporting Loans
Originally posted by dammit chloe View PostSnap. I was with them. So yes they are in the frame. Venturis trust now holds the Loan Info. Some loans were waived, some were "technically paid off". HMRC has resurrected them and want payment based on the original sterling value. Not sure if CS loans are being reported to HMRC, they have no records of mine, but Horizon ones definitely are.
Sorry.Comment
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Originally posted by Cookie123 View PostI am living abroad but rang HMRC to ask what they needed. Got passed around various departments. Spoke to some guy who said they were interested in 3 years 2005-2008. I've missed the reporting deadline as found out about all this way too late. So should I report only on the loans they are interested in? It all happened so long ago, not sure whether I've got infor for pre this time.Comment
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Originally posted by Cookie123 View PostI am living abroad but rang HMRC to ask what they needed. Got passed around various departments. Spoke to some guy who said they were interested in 3 years 2005-2008. I've missed the reporting deadline as found out about all this way too late. So should I report only on the loans they are interested in? It all happened so long ago, not sure whether I've got infor for pre this time.
It's ALL outstanding loans that fall within the relevant definition.
Anything other than that risks a penalty.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
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Originally posted by Paralytic View PostAre you planning to ever return? Where do you live now? Can you see where this is going?
Some places HMRC hasn't got a cat in hell's chance of collecting.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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