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HMRC letter regarding loan charge
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HMRC letter regarding loan charge
Hi
My wife received what appears to be a standard/generic letter regarding the loan charge review, with various pieces of advice on what to do next etc.
However. . . . .
This is completely out of the blue, she has never received any such letter in the past, and to go a step further we don't even know what the "loan charge" is (apologies for being a complete numpty)?
For background I did about 10 years as a contractor (have been permanent for the last 10 years) mostly via ltd company in the early years, then via an umbrella, with 2 years under what I guess the HMRC would class as a scheme (Consulting Overseas, Actinium) in 2004/06 with my wife as a shareholder in 2 x offshore BVI companies. However I don't recall it being any kind of loan scheme, we were paid dividends IIRC. My wife is full time nurse and has only ever had to complete SA for the years 04/06 and has been permanent for the NHS all her life.
Could HMRC just have sent this letter out by mistake, or could it be that how I worked back in 2004 was some kind of loan scheme to which they are referring to?
I know previous schemes by Consulting Overseas (Sandfield?) have been subject to HMRC investigation but I'm not aware of anything related to Actinium.
Any advice (and an explanation of what a "loan charge" is would be most appreciated.
Regards
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