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Loan charge review - Government response is here

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    Loan charge review - Government response is here

    Disguised remuneration: guidance following the outcome of the independent loan charge review - GOV.UK
    Best Forum Adviser & Forum Personality of the Year 2018.

    (No, me neither).

    #2
    Woohoo

    All my loans are pre-2010 closed years! No more LC -
    Now that is a lovely Christmas present!

    Comment


      #3
      I'll only be celebrating if the Tories actually take any notice and HMRC don't try to hold me to my signed "voluntary" settlement.
      There's no sure-fire set solutions. No short-cut through the trees ...

      Comment


        #4
        Originally posted by starstruck View Post
        Woohoo

        All my loans are pre-2010 closed years! No more LC -
        Now that is a lovely Christmas present!
        Why are you saying "Closed Years" - It looks to me it's any year - am i missing the point?

        Alos, what about any APN already paid - do I get that back?

        Comment


          #5
          From HMRC'S guidance, it looks like a done deal
          Disguised remuneration: guidance following the outcome of the independent loan charge review - GOV.UK
          There's no sure-fire set solutions. No short-cut through the trees ...

          Comment


            #6
            Originally posted by demby View Post
            Why are you saying "Closed Years" - It looks to me it's any year - am i missing the point?

            Alos, what about any APN already paid - do I get that back?
            existing enquiries remain open I think

            Comment


              #7
              Originally posted by Speccy View Post
              I'll only be celebrating if the Tories actually take any notice and HMRC don't try to hold me to my signed "voluntary" settlement.
              It says hmrc are going to refund voluntary settlements

              Comment


                #8
                Originally posted by Speccy View Post
                I'll only be celebrating if the Tories actually take any notice and HMRC don't try to hold me to my signed "voluntary" settlement.
                If you settled post March 2016 (when the Loan charge was announced) then it seems that you will get a refund. So you should get a refund on all closed years but not open years. All open enquiries will still remain open (unless settled already)

                Comment


                  #9
                  Originally posted by starstruck View Post
                  Woohoo

                  All my loans are pre-2010 closed years! No more LC -
                  Now that is a lovely Christmas present!
                  Unless you've already gone and got them released...

                  If you've done that you might need to do some more lobbying.

                  Comment


                    #10
                    Originally posted by demby View Post
                    Alos, what about any APN already paid - do I get that back?
                    No change - you will still need to deal with that.

                    Originally posted by HMRC
                    Open enquiries
                    Paying the loan charge does not resolve the underlying tax dispute with HMRC for the years in which loans were made. Tax years that are subject to an open enquiry or assessment will still need to be resolved, either by way of settlement with HMRC or through litigation.

                    Comment

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