Distress of Loan Charge 2019 laid bare
In a page entitled “reader reactions,” the Financial Times published about 10 accounts excerpted from emails and letters from contractors and other taxpayers facing the April tax.
- A man hospitalised from a suicide attempt lost his marriage and sold the family home
- A retired couple, one of whom is in their late sixties, who face losing their life savings
- A husband with depression who separated from his wife and left their four children
- An airline pilot suffering from stress who still flies 200 people per plane at age 63
- A father-of-two facing bankruptcy at age 37
- A signage business with 12 members of staff that faces closure
- A man who moved his family from one house and into another just to pay the interest
- A man who has drained ISA/life-savings; drawn dividends; re-mortgaged, borrowed
- A man who got HMRC reassurances on two occasions, four years apart.
18th February, 2019