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turbowoowoo
21st December 2014, 21:23
Can some one please explain in simple terms (if at all possible) how IHT may apply to contractors loans?

When does this apply ?
How much is the tax?
Is there a threshold?
If we settle with HMRC will the trust write the loans off?
What will happen if loans are not written off,cleared?

This is a bloody minefield

stek
21st December 2014, 22:01
Can some one please explain in simple terms (if at all possible) how IHT may apply to contractors loans?

When does this apply ?
How much is the tax?
Is there a threshold?
If we settle with HMRC will the trust write the loans off?
What will happen if loans are not written off,cleared?

This is a bloody minefield

You mean your in an EBT?

Boobetty
22nd December 2014, 16:29
More or less everything you need can be found here (https://www.gov.uk/government/publications/tax-on-contractor-loans/tax-on-contractor-loans-extended-time-limit-and-more-information--2).