Anyone who is or has been self employed over the past 20 years should be rightly horrified by The Loan Charge. Regardless of your view on the arrangements, this is a tax grab on the easiest targets and once the precedent is set, they WILL come for the rest of us.
1. Operated as a Ltd company?
2. Operated outside IR35?
3. Claimed any business expenses?
Nothing will be off the table. Classic divide and conquer techniques. We've already seen DOTAS, APN legislation and Follower Notices. Everyone takes an "Im alright Jack.." approach until they realise they are next in line.
Act now.
If you are on Twitter, speak out. At the very least, hit like and retweet on the story.
Twitter: ""Self-employed face losing homes after innocently using a tax loophole"
Loan Charge Action Group [LCAG] on Twitter: "Grim tax tales that show that @BorisJohnson must help, says @MPIainDS
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Loan Charge support from the daily mail
Self-employed face losing homes after innocently using a tax loophole | Daily Mail Online
The daily wail/fail usually only carries articles of total stupidity. Good to see them get something right.
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