I've asked the same question but it was an old thread so apologies for the duplication
I've fully settled with HMRC under the loan charge settlement scheme in 2020. Now I am in a position to settle my loans for around, 2%, figure. Loan value is around £160k so £3,200. I am confused about this 554C that I read being mentioned. Surely this is untenable when I have already paid all due taxes and NI including interest ? I can't afford to essentially pay another what , £150 K. Doesn't make any sense even in HMRCs world
I've fully settled with HMRC under the loan charge settlement scheme in 2020. Now I am in a position to settle my loans for around, 2%, figure. Loan value is around £160k so £3,200. I am confused about this 554C that I read being mentioned. Surely this is untenable when I have already paid all due taxes and NI including interest ? I can't afford to essentially pay another what , £150 K. Doesn't make any sense even in HMRCs world
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