Originally posted by keeno65
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To complicate things a bit HMRC have offered to spread the outstanding loan balance over 3 tax years. So using the above this would mean for 2018/19 your earnings would be re-stated at 100k. (50k earnings plus 50k loan). Then for the next two tax years they add 50k to whatever you earnt and send you a tax bill.
Its worth reading through the link above mind you to get your own understanding as I am no tax advisor but just in the same messy boat.
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