So between Feb 2016 and March 2017 i recieve a total of £50,000
£12,000 in salary and £38,000 in loans.
I wish to settle all taxes and NI with HMRC before April 2019.
(A) How much is this likely to be?
(B) after all taxes and NI is settled, am i still susceptible to the 2019 tax charge?
Im not getting how the 2019 tax charge works. Why would i get the charge? Is it because i have had £38,000 in loan amounts? Or am i now in the clear. If not what would be the charge on £38,000 worth of loan amount?
Regards
£12,000 in salary and £38,000 in loans.
I wish to settle all taxes and NI with HMRC before April 2019.
(A) How much is this likely to be?
(B) after all taxes and NI is settled, am i still susceptible to the 2019 tax charge?
Im not getting how the 2019 tax charge works. Why would i get the charge? Is it because i have had £38,000 in loan amounts? Or am i now in the clear. If not what would be the charge on £38,000 worth of loan amount?
Regards
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