This is a freeview 'At a glance' guide to disguised remuneration and the loan charge.

When do the disguised remuneration rules apply? How do they apply? When does the loan charge apply? What options for settlement are available?


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It's panning out to be a Double Whammy of payments.

Q) Once you paid off the TaxMan and if you accept the 5% offer from these loan companies, is this likely to trigger an Inheritance tax bill for the written off loan?

Q) Say you don't accept...

It's panning out to be a Double Whammy of payments.

Q) Once you paid off the TaxMan and if you accept the 5% offer from these loan companies, is this likely to trigger an Inheritance tax bill for the written off loan?

Q) Say you don't accept the offer and get legal advise, this is going to cost bigtime as these company's know how to pay the system and will ride it out. (legal advise charge per hour, per letter every time) so just the first initial letters will cost £££s and will end up costing ££££s without an end result!

Q) if these loans were in trust, then don't the trustees have a legal obligation to act in the beneficiaries' best interest, clearly they are not doing this.

Can you not go after the Trustees and hold them accountable in the first place?

What ever happens it looks like this is going to cost some serious cash in legal fees alone, how about a Class action and pulling at the people affect and act as one!

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If we have left UK and have no UK income, does it mean that the loan charge is the full amount they will calculate as the income for that year? Or will they combine them with our overseas income?

Guest
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Thank you for the overview.
The HMRC summary letter sent in May still includes the 2008/2009 and 2009/2010 years despite the Gov review.

Can one opt not to pay any loan issue before Dwc 2010 as per the Gov review?

The letter also asks to...

Thank you for the overview.
The HMRC summary letter sent in May still includes the 2008/2009 and 2009/2010 years despite the Gov review.

Can one opt not to pay any loan issue before Dwc 2010 as per the Gov review?

The letter also asks to agree to Inheretance Tax on the loans, which takes the liability to almost 100% of money earned in those years.

Do you have any advice on this please?

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What if the co can not afford to repay or worse has been liquidated. Where does this leave the directors or former directors who were involved in the EFRB scheme?

Guest
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Client received a loan pre 9 Dec 2010 therefore I do not believe loan charge is applicable any more. HMRC have contacted this week asking if client wants to settle still.....they have said that when the trust is wound up the tax and national...

Client received a loan pre 9 Dec 2010 therefore I do not believe loan charge is applicable any more. HMRC have contacted this week asking if client wants to settle still.....they have said that when the trust is wound up the tax and national insurance will then become due......They want an "options" form completing to confirm whether the client still wants to settle ........have you heard of anyone else receiving emails such as this?

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We have not heard of anyone else receiving such emails yet.

Guest
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Thanks for this informative article. Once one has settled with HMRC, what becomes of the horrid loan scheme. Can they come back and ask you to pay the loan back, again, over paying to HMRC and the loan sharks? Surely that can’t be lawful, it...

Thanks for this informative article. Once one has settled with HMRC, what becomes of the horrid loan scheme. Can they come back and ask you to pay the loan back, again, over paying to HMRC and the loan sharks? Surely that can’t be lawful, it would be like working for free...

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