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@Robin Large
HMRC / Treasury have clearly stated that using a mechanism to avoid their horrible Loan Charge will not work and you will still have to declare.
@NoWayOut
No, that is more about retrospective legislation.
There are 2 JRs.
1) LCAG - Which wants to remove retrospective element of Charge, so it is from Royal Ascent 2016
2) WTT - Which wants to force HMRC to go after employers first as per rangers decision in Supreme Court
SO basically...
Time limit (years)
4
Incomplete disclosure
Not due to careless or deliberate conduct
6
A loss of tax
Due to careless conduct
20
A loss of tax
Due to a deliberate action, or
A failure to notify liability, or
Attributable to a notifiable tax avoidance scheme (DOTAS), a hallmarked...
@Cowboy, there are statements recently that from 2009 HMRC started communicating their displeasure. Surely they cannot tax any further beyond that with the Loan Charge. I think in reality, it is more like 2011 before any real announcements about DR came out of HMRC in the form of official comms.
CowBoy - I would chat to Graham or Phil at least. There is a real chance that CLOSED (Unprotected) may be removed from the Loan Charge 2019. This could potentially save you a fortune.
The one thing that is worrying me is the recent, HoL and McCann stating possibly remove LC for those that declared Dotas. But my EBT was pre-DOTAs implementation and so even though it ended in 2006, I would be caught due to bad timing.
Fingers crossed whatever the review outcome states, it is...
There was a meeting yesterday between CIOT (Ray McGann) and the Treasury Sub-Committee
https://www.parliamentlive.tv/Event/Index/c7dc91e1-937e-4daf-93d6-e009523e7587
The full TV thingy is here and is interesting.