Originally posted by lowpaidworker
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Track the Finance Bill 2020-21 here
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Scoots still says that Apr 2020 didn't mark the start of a new stock bull market. -
Originally posted by lowpaidworker View PostI assume you don't follow LCAG and some of their evidence nor did you read the Morse review in detail. Some people had no option but to go via certain umbrellas/agencies. Maybe coerced rather than forced, but lets not pick bonesComment
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When will this bill be passed into law?
I settled on a loan from 2004 and was told I am able to get a refund once it is passed into lawComment
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Originally posted by bosleyrog View PostWhen will this bill be passed into law?
I settled on a loan from 2004 and was told I am able to get a refund once it is passed into law
Sent from my iPhone using Contractor UK ForumComment
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It was supposed to be sometime in July at the earliest, not sure where it stands currently
And yes it is in writing from HMRC as far as I know
Implementation of changes to the loan charge: refunding voluntary restitution - GOV.UKComment
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Reasonable disclosure
I wondered if anybody had managed to make the 'reasonable disclosure' terms work in their favour?
Mine all fall 2011-2016, but Smartpay (AML based loans) filled out my tax returns for the years in question and I suspect i've little means of laying any claim to this. Would be interested to hear if anybody has argued that HMRC knew of these firms and their arrangements which would imply some level of disclosure by not hiding their usage.Comment
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Originally posted by ozzyo99 View PostI wondered if anybody had managed to make the 'reasonable disclosure' terms work in their favour?
Mine all fall 2011-2016, but Smartpay (AML based loans) filled out my tax returns for the years in question and I suspect i've little means of laying any claim to this. Would be interested to hear if anybody has argued that HMRC knew of these firms and their arrangements which would imply some level of disclosure by not hiding their usage.
Some people may have some wording about loans in the white space on their returns but I doubt HMRC would accept that as sufficient.
There's no harm in trying but I would expect HMRC to reject virtually all claims. If you felt you had a good case, you'd probably have to take it to tribunal.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by DealorNoDeal View PostThere's no harm in trying but I would expect HMRC to reject virtually all claims. If you felt you had a good case, you'd probably have to take it to tribunal.
Could there be a risk of penalties if you file a 2018/19 return claiming* the LC doesn't apply because there was 'reasonable disclosure' on your original tax returns?
* especially if the claim is a bit flimsy or spuriousLast edited by DealorNoDeal; 12 July 2020, 10:44.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by DealorNoDeal View PostThinking about it, I don't know if that's a safe assumption.
Could there be a risk of penalties if you file a 2018/19 return claiming* the LC doesn't apply because there was 'reasonable disclosure' on your original tax returns?
* especially if the claim is a bit flimsy or spurious
Some schemes worked by paying divi’s to reduce balance. Therefore there would not necessarily be outstanding loan balance (not that this should be taxed anyway as it was a loan).Comment
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Originally posted by Iter View PostIs there a definition for reasonable disclosure yet?Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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