Damning APPG 2019 loan charge report

This proves beyond doubt the loan charge is a massive scandal not to mention HMRC's cover up attempt

Didn't find your answer?

http://www.loanchargeappg.co.uk/wp-content/uploads/2019/04/Loan-Charge-I...

Clearly HMRC/Treasury are resorting to outright lies to try cover it up.

Only the Aweb resident muppets are fooled by that it seems.

Replies (6)

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By Paul D Utherone
04th Apr 2019 14:04

Nice of HMRC to send this to Agents on 4 April 2019:

The 2019 loan charge comes into effect on Friday 5 April
Help is available to people who used disguised remuneration avoidance schemes if they want to settle their tax affairs before the loan charge comes into effect.

People who need to settle should contact HMRC now and send us all the information we need as quickly as possible, and by 5 April 2019 at the latest.

People can still benefit from the published settlement terms if they contact HMRC with a genuine intent to settle before 5 April 2019 and provide the relevant information, even if settlement cannot be reached until after that date.

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By Justin Bryant
05th Apr 2019 10:08

I see this report is now a big news story and senior politicians are expressing outrage and calling for a law change etc. See:

https://twitter.com/DavidDavisMP?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%...

https://twitter.com/DominicRaab

Quite right too! See also:

https://www.accountancydaily.co/hmrc-head-challenged-over-loan-charge-mi...

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By Paul D Utherone
04th Apr 2019 16:40

HMRC / HMT have also taken a kicking in this letter: http://www.loanchargeappg.co.uk/wp-content/uploads/2019/04/2019_04_02-Le...

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By carnmores
04th Apr 2019 21:33

No one is pretending that HMRC are behaving in a reasonable manner but if you thought that you could avoid taxes in this way then you were sadly mistaken. Any of the non numpties advise their clients to take up these schemes. EFURBS are now also under attack.

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By SteveHa
05th Apr 2019 09:05

I find it appaling that HMRC and Mel Stride "declined" to attend the oral evidence session. Clearly they know that they are wrong, and so simply choose not to attend anything that would force them to admit it.

I would have thought, however, that a working party of MPs could compel them to attend.

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By meadowsaw227
05th Apr 2019 10:37

Presumably the 50,00o contractors are only being asked to pay the correct amount of tax on their earnings over the last 20 years or at least PAY back the loans.
I do not have much sympathy for them when all the contractors I act for have not used loans to disguise their income.
At the all the conferences/lectures I attend I have never met one accountant who admits to having clients involved with these loans ! .

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