Originally posted by ToHaLe
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they keep 2018/19 open and use the fact you didn't report the loans as a demonstration of evasion rather than avoidance.
As DealorNoDeal states if ignorance is not an excuse, wilful evasion definitely isn't - and if there is evidence of evasion I think everything is completely fair game in HMRCs eyes.
It wouldn't surprise if HMRC used lack of reporting of a loan as evidence of evasion and once evidence of evasion is shown HMRC will merrily go back a long time. Heck I suspect all they would do is generate tax bills for the years in question and say proof otherwise.
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