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So, it appears that we have benefited from legitimate loans provided through the various trust arrangements established by Rathowan.
The loans to the self-employed are not caught by the 2019 deadline but only because Hector hasn't flashed up the time machine to go back and 'clarify'.
:wave:
Due...
It is becoming increasingly obvious that the Rathowan 'loans' should be written off ASAP.
3 reasons:
1. If forgiven they MAY be taxable but equally may be classified as a beneficial windfall.
2. If not forgiven then Hector will undoubtedly put them beyond doubt as remuneration at some point in...
You may be correct. However if my Granny had lent me a sum and then decided later that repayment wasn't necessary then it would be a gift not income. I can understand a 'Gift' of enormous value causing Hector to salivate so maybe a partial write off each FY would be the way to go.
The real...
I don't see how the write-off of a loan is anything more than the removal of a liability (or debt). How could that possibly attract a tax charge?
:grin
Got my Hazelmere/Ronsard 10% demand this morning.
I have nothing to compare with, but this is a two pager explaining why making occasional repayments is apparently a good idea (yeah right :winker:)
Is this a softening of the ask, perhaps influenced by the outcry on these forums?
The final...
There is real danger here as I see it. :eek
My situation in a 'shellnut'.
I have 11 months of 'Loans' outstanding and Hector has enquiries open on the two FY's that they span. Hector therefore has all the time in the world to reclassify these loans into income. It will be done by legal sleight...
This State sponsored terrorist organisation (:wave:) needs to be effectively monitored by a truly independent body.
I know the country is broke but illegally shafting the wealth creators that pay the taxes is not a sustainable way forward.
:mad
For the avoidance of doubt - all Public Sector tax...