Loan Charge 30 Sept - Online Form Loan Charge 30 Sept - Online Form - Page 2
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  1. #11

    Still gathering requirements...


    Join Date
    Oct 2018
    Posts
    26

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    I have already paid my settlement in full but as some of my loans were in the 2018-2019 tax year they werent included in my settlement as I'm paying tax and NI in my self assessment for these loans. I have therefore reported all my loans just in case.

    I assume the 2018-19 loans arent subject to the loan charge/an enquiry as they are being fully disclosed as income and tax fully paid in the SA

  2. #12

    Nervous Newbie


    Join Date
    Jun 2019
    Posts
    19

    Default

    There are enquiries into loans and advances paid in 2016/17 and subsequent years, but I was told letters are being sent as a nudge to complete a tax return, and penalties/interest will be levied only for people who do not report the untaxed income on the relevant tax return as it’s considered they now are aware.
    Clients I have helped with an enquiry into the 2016/17, 2017/18 tax years have now filed returns and have heard nothing more.



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