Hi, are there any contractors working through Galaxy or was through Choice on this forum?
I've spoken with HMRC and registered my interest to settle, but it's going to be a big number. But speaking with Choice / Galaxy ltd I've being informed of the below,
Quote "The loans represent a genuine outstanding liability and commercial rate of interest is being charged which is subject to tax. When the loans are repaid they would constitute a taxable income in the hands of the company. Taxes are being paid on the Employee’s income and the Employer’s profit. In that respect, we are not operating a ‘tax avoidance scheme’ and would advise workers to refrain from entering into arrangements which are clearly aggressive and seek to achieve tax losses or obtain undue tax benefits."
would really like to hear more from anyone even if your not with Choice or Galaxy.
I've spoken with HMRC and registered my interest to settle, but it's going to be a big number. But speaking with Choice / Galaxy ltd I've being informed of the below,
Quote "The loans represent a genuine outstanding liability and commercial rate of interest is being charged which is subject to tax. When the loans are repaid they would constitute a taxable income in the hands of the company. Taxes are being paid on the Employee’s income and the Employer’s profit. In that respect, we are not operating a ‘tax avoidance scheme’ and would advise workers to refrain from entering into arrangements which are clearly aggressive and seek to achieve tax losses or obtain undue tax benefits."
would really like to hear more from anyone even if your not with Choice or Galaxy.
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