Originally posted by regron
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Loan Charge - sanity check
Collapse
X
-
-
Originally posted by VillageIdiotDan View Postwith HMRC then having the option to come at me for the interest charges only?
A certainty.
Best to see the loan charge as a NEW tax that has no connection with settlement or agreeing open years' enquiries.
The only difference being that the NEW tax can be offset some of the tax due on those open years. (With the kicker that if you pay too much loan charge, you can't get it back).Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
-
Originally posted by VillageIdiotDan View PostThanks, I'm certainly open to the idea but struggle with the concept of what a settlement achieves that the loan charge doesn't. Is it that a settlement closes the issue completely, where paying the loan charge is simply a payment of the tax, with HMRC then having the option to come at me for the interest charges only? Interest charges, surcharges and any other dubious penalties they feel will stick?STRENGTH - "A river cuts through rock not because of its power, but its persistence"Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment