“ I owe £180,000 in tax and I haven’t told my wife” “ I owe £180,000 in tax and I haven’t told my wife”
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  1. #1

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    Default “ I owe £180,000 in tax and I haven’t told my wife”

    “ It's a massive amount of pressure. I've sort of kept it to myself. My family don't know about this and I've often thought: 'Is that the right decision?' But I wouldn't want to put them through all this."

    John is not his real name but he didn't want to be identified. After all, he has spent more than two years keeping his financial worries hidden from his wife.

    He is one of an estimated 50,000 people who have been hit by a controversial tax policy known as the loan charge. As a result, he now owes £180,000 to HMRC.

    The pressure of the last two years has been enormous. He told BBC Radio 4's File on 4: "It's really tough. I can't tell you the last time I slept and it's difficult. It's just relentless, with no real end in sight."

    This substantial tax bill stems from how John was paid when he worked as a contractor for a number of years.”

    “ There's a lot of people who just think I was a tax dodger and that's not the case," says John.

    "It was more about the ease. If someone had said to me: 'You can take 90% [of earnings] but it's illegal,' would I have done it? Absolutely not.”

    ‘I owe GBP180,000 in tax and I haven’t told my wife’ - BBC News

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    Does John own a bike?

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    It's a bit daft to keep that kind of thing secret. I completely understand why, it's usually because of the shame aspect. However, it would be far harder to explain your way out of why someone is carrying your sofa off and the lock on your front door has been changed.

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    shouldn't this be in the HMRC loans thread?

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    Mrs Eek pointed this out to me earlier today - and being honest it's not HMRC John should be scared of, it's the liquidator or trust trying to recover the "loaned" money.
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    Quote Originally Posted by ladymuck View Post
    It's a bit daft to keep that kind of thing secret. I completely understand why, it's usually because of the shame aspect. However, it would be far harder to explain your way out of why someone is carrying your sofa off and the lock on your front door has been changed.
    I have heard of a wife who only discovered the size of their debt issues (nothing to do with tax avoidance) when the bailiffs arrived to evict them from their house that day.
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    Quote Originally Posted by BR14 View Post
    shouldn't this be in the HMRC loans thread?
    Maybe. There's also a more general theme of keeping debts a secret never ends well.

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    Quote Originally Posted by BR14 View Post
    no not me. i don't post miserable sh1t all the time, nor do i consider myself some kind of wunderkind and boast all the time like you do.
    Given the 5 figure sum I've invested in this plan I think I'm entitled to be arrogant about it.
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    Loan charge group PR agency is in full throttle it seems. As usual names have been withheld, wonder why.
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    Quote Originally Posted by fullyautomatix View Post
    Loan charge group PR agency is in full throttle it seems. As usual names have been withheld, wonder why.
    It won't make any difference for them as HMRC want the money they are owed. Hopefully it will help discourage others from joiningsich schemes
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