It is an interesting point that goes beyond the academic as I suspect that it will apply in many circumstances.
I think my point is that a pre 2010 loan is also pre Part 7A. Section 554C came into force 6th April 2017, within Part 7A.
There is an argument that a pre 2010 loan was never within Part 7A and therefore section 554C et al cannot apply as the loans were not "disguised remuneration".
Therefore if loans for that period are settled or are now beyond HMRC's reach via enquiry or loan charge it would be perverse if they could have in effect a third bite of the cherry in applying rules that had no existence when the loan was made.
My view therefore is that asking HMRC to confirm that this is the case would be sensible, rather than have the loan written off and argue from that position.
I think my point is that a pre 2010 loan is also pre Part 7A. Section 554C came into force 6th April 2017, within Part 7A.
There is an argument that a pre 2010 loan was never within Part 7A and therefore section 554C et al cannot apply as the loans were not "disguised remuneration".
Therefore if loans for that period are settled or are now beyond HMRC's reach via enquiry or loan charge it would be perverse if they could have in effect a third bite of the cherry in applying rules that had no existence when the loan was made.
My view therefore is that asking HMRC to confirm that this is the case would be sensible, rather than have the loan written off and argue from that position.
Comment