Independent Loan Charge Review

[BrilloPad]

Loan Charge 2019 Review opens up to contractors, alive to ‘independent’ concerns

[webberg]

On Monday 16th September, Graham Webber, Director of Tax at WTT Consulting Ltd, visited Sir Amyas Morse in his capacity as Reviewer of the Loan Charge, appointed by Parliament.

The meeting lasted an hour and was frank and we think useful to all sides.

In particular, Sir Amyas reassured us that he was an independent Reviewer and he would not be swayed by what many see as potentially awkward wording in the Terms of Reference of the Review.

We are confident that he is his own man and will make as thorough and comprehensive review of the situation as time permits.

We expect the final Review conclusion, due in mid November, to be balanced and fair although we reserve the right to continue to challenge the legislation as it stands.

[Dmac]

On Monday 16th September, Graham Webber, Director of Tax at WTT Consulting Ltd, visited Sir Amyas Morse in his capacity as Reviewer of the Loan Charge, appointed by Parliament.

The meeting lasted an hour and was frank and we think useful to all sides.

In particular, Sir Amyas reassured us that he was an independent Reviewer and he would not be swayed by what many see as potentially awkward wording in the Terms of Reference of the Review.

We are confident that he is his own man and will make as thorough and comprehensive review of the situation as time permits.

We expect the final Review conclusion, due in mid November, to be balanced and fair although we reserve the right to continue to challenge the legislation as it stands.

I'm sure it was put across to him how important it is for his views not to be tainted by his able assistants from HMT and HMRC. I just hope his recommendations take account of the years of HMRC failure, and that HM Government are bound by them.

[webberg]

I'm sure it was put across to him how important it is for his views not to be tainted by his able assistants from HMT and HMRC. I just hope his recommendations take account of the years of HMRC failure, and that HM Government are bound by them.

I would say that he is very aware that this matter has a number of what might be seen as partisan factions all keen to promote a particular message.

In my opinion, he is information gathering and assessing the relevance and integrity of the facts at this stage.

[panders]

What would you do?

I took a loan to repay my loan charge as the psychological impact of having this hanging over my head for the 10 years agreed repayment terms was affecting me. I still have £1700 owing but I am streaks ahead of the proposed repayments and given the review and that I am ahead of payments schedule I wondered if I should pause my payments until the review outcome?

[webberg]

I took a loan to repay my loan charge as the psychological impact of having this hanging over my head for the 10 years agreed repayment terms was affecting me. I still have £1700 owing but I am streaks ahead of the proposed repayments and given the review and that I am ahead of payments schedule I wondered if I should pause my payments until the review outcome?

What?

You have a loan to repay the original loan?

Or you have borrowed to pay the loan charge (which is not settlement) due in January next year?

I suspect the former.

You need to get advice - quickly.

Repaying the loan will remove the threat of loan charge, but if you have years under enquiry, you can expect to pay tax in the event that all legal challenges fail.

PM me.

[Iter]

Independent Loan Charge Review

It sounds like you have a new loan to repay your agreed settlement? , in this case you have settled and won’t incur the loan charge. You have already settled so whatever happens with the review makes no difference to you. If you have a new genuine loan then you have to pay that back!


Definitely need to clarify your position, worth having a chat with webberg

[Doggysoft]

It appears that Sir Amyas has his doubters according to today's Telegraph. I have no opinion either way but I worry that any fuss regarding his neutrality will have a knock on effect of the proposed review outcome date.

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