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Self Assessment Tax Return 2018/19 and Loan Charge
What are the obligations in relation to individuals that stopped using EBT / disguised remuneration schemes in the past and have since left contracting and been on PAYE?
I stopped contracting in 2015 and have been on PAYE since then.
Do I need to submit a SATR by jan 31st 2020 even though I've been on PAYE since 2015?
My historical loans have already been declared as part of the July 2019 HMRC deadline with a view to seek settlement calculations. Therefore in my view HMRC already have the historical outstanding loans figures.
I have declared my loans as taxable income for the 2015/16 and 2016/2017 tax years and promptly received the tax calculation i owe including penalties and interest (absolute sickener).
My question is do i pay and that is the end of it... or do i still need to declare these loans using report and accounting for your disguised remuneration loan charge document?
I have declared my loans as taxable income for the 2015/16 and 2016/2017 tax years and promptly received the tax calculation i owe including penalties and interest (absolute sickener).
My question is do i pay and that is the end of it... or do i still need to declare these loans using report and accounting for your disguised remuneration loan charge document?
I have declared my loans as taxable income for the 2015/16 and 2016/2017 tax years and promptly received the tax calculation i owe including penalties and interest (absolute sickener).
My question is do i pay and that is the end of it... or do i still need to declare these loans using report and accounting for your disguised remuneration loan charge document?
Have you joined LCAG or the LCAG judicial review? Might be worth it for you.
It's payable in a lump sum. But should it matter on the figure? My question is after I have settled the tax, do I still need to declare using the online form? Or do the HMRC see my admission that I collected income that was untaxed and want to settle with interest as enough and those years will be closed?
It's payable in a lump sum. But should it matter on the figure? My question is after I have settled the tax, do I still need to declare using the online form? Or do the HMRC see my admission that I collected income that was untaxed and want to settle with interest as enough and those years will be closed?
Anyone had experience with anything like this?
Yes we have seen this.
If you have settled the tax via a formal contract (you will know if you have signed one) or by withdrawing appeals against assessments (essentially agreeing HMRC's argument), then you are exempt from disclosing the loans in the 2018/19 SATR.
If you have yet to reach the stage of a formal, signed, agreement, then you should make a declaration on the 2018/19 SATR.
Best Forum Adviser & Forum Personality of the Year 2018.
What are the obligations in relation to individuals that stopped using EBT / disguised remuneration schemes in the past and have since left contracting and been on PAYE?
I stopped contracting in 2015 and have been on PAYE since then.
Do I need to submit a SATR by jan 31st 2020 even though I've been on PAYE since 2015?
My historical loans have already been declared as part of the July 2019 HMRC deadline with a view to seek settlement calculations. Therefore in my view HMRC already have the historical outstanding loans figures.
Any advise welcone
You still need to disclose.
Best Forum Adviser & Forum Personality of the Year 2018.
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