Loan Charge on BBC front page : the general version

[BR14]

I would far prefer to be boring.

you got your wish, then eh?

[NotAllThere]

Why wasn't he a criminal? Is it cos it's a civil crime?

It's cos tax avoidance isn't a crime. It just that if the courts determine that your scheme doesn't work in the tax avoiding way you think it does, the tax you avoided becomes owed - and late tax attracts interest and penalties.

The Loan Charge is a new tax.It's not a fine or any other kind of civil penalty.

[AtW]

“The MPs say the attraction of the schemes wasn't lower tax as much as a wish to avoid the hassle and paperwork of running their own limited company.

Others had no choice because their employers, including many public sector employers, insisted on trust-loan arrangements as a condition of employment.”

[NotAllThere]

Others had no choice because their employers, including many public sector employers, insisted on trust-loan arrangements as a condition of employment.”

This does appear to be possibly the case. While I understand the irony, if it really is true, that is a severe abuse.

[AtW]

This does appear to be possibly the case. While I understand the irony, if it really is true, that is a severe abuse.

Some as in 0.001%?

Anybody who earns enough to pay 40% income tax would be totally aware of what normal rate of tax is - it’s pretty visible thing really, so unless majority of “loan” scheme users were low paid individuals who had no chance of knowing then it’s just a blatant attempt to hide the obvious - vast majority of such users went for such crazy arrangement for one main reason - tax “avoidance”.

Ltd in UK is easy to run if you are just a sole director - it’s cheap and easy (still). Much harder when you get employees

[BrilloPad]

vast majority of such users went for such crazy arrangement for one main reason - tax “avoidance”.

How would YOU know? You know f**k all about anything.

In fact research has shown avoidance is rarely a factor. And even where it is, avoidance is not illegal. In fact it is a duty of a taxpayer to arrange their affairs to pay the least.

I think you have picked up some squirrel STD which is eating into your brain.

I started this thread to see who the scum are who condone suicide for the victims of a crime. Well I knew about you and his Smegness....

[Old Greg]

How would YOU know? You know f**k all about anything.

In fact research has shown avoidance is rarely a factor. And even where it is, avoidance is not illegal. In fact it is a duty of a taxpayer to arrange their affairs to pay the least.

I think you have picked up some squirrel STD which is eating into your brain.

I started this thread to see who the scum are who condone suicide for the victims of a crime. Well I knew about you and his Smegness....

Why do you think I condone suicides for the victims of a crime? What crimes are you talking about? On the other hand, you appear to want me to kill myself. Fortunately, I have broad shoulders and can respond with forgiveness and concern for your well-being.

You do appear to have lost what little reason you ever had. Maybe you should take a break from these threads? Be happy, Brillo. It's only General.

[Manic]

How would YOU know? You know f**k all about anything.

In fact research has shown avoidance is rarely a factor. And even where it is, avoidance is not illegal. In fact it is a duty of a taxpayer to arrange their affairs to pay the least.

I think you have picked up some squirrel STD which is eating into your brain.

I started this thread to see who the scum are who condone suicide for the victims of a crime. Well I knew about you and his Smegness....

Sorry BP, with the exception of those who were required by their employment contract, i suspect that the sole motivation was tax avoidance. As you rightly point out this is not illegal and most of us are keen to minimise our exposure to Hector. The question is why else would anyone do it? (use a Loan arrangement).

[AtW]

Motivation was tax - obviously, one can’t expect honesty from the people who claim with straight face that they received “loans” instead of wages for the work they’ve done.

[RyanDS]

How would YOU know? You know f**k all about anything.

In fact research has shown avoidance is rarely a factor. And even where it is, avoidance is not illegal. In fact it is a duty of a taxpayer to arrange their affairs to pay the least.
..

What is the reason then? I have a few friends who were caught up in these and 100% they did it for tax avoidance.

They just thought the benefits outweighed the risks.

I honestly can't think of a single reason apart from tax to have used one.

That's not to say people knew they were illegal etc, but apart from saving money why else would you?