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Previously on "Transfer of loan charge from Employer to Employee"
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I think the charge would still include NICs for the periods where you were self-employed.
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So come Janaury 2020 I will only have to pay income tax with no Class 1 NICs due?
Will the 2019 charge ignore years where you were employed or self-employed and just tax the loans as an income lump sum?
E.g. if I settled now I'd have to pay Class 4 NICs as I was self-employed for some years.
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Transfer of loan charge from Employer to Employee
Apologies if this has already been covered on the forum.
I found this quite a good explanation.
April 2019 Loan Charge – Transfer of liability to employees | C3Insight
This is the HMRC technical note.
https://www.gov.uk/government/public...r-of-liability
One slight positive to come out of this is that employees won't have to pay any NICs.Tags: None
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