Now that the loan charge has come into effect, it is time to look at some of the practical considerations around reporting and paying the loan charge. If you are on a low income, there are a number of steps you still need to go through between now and the 31st January 2020, even if you don’t think ...
Following the release of a report from HM Treasury on time limits in the tax system, it is now virtually certain that the loan charge will come in, as planned, in a week’s time. If you are affected, and haven’t done so already, you need to urgently consider contacting HMRC about settlement.
HMRC recently announced that anyone with income under £30,000 coming forward to settle outstanding liabilities will now be offered up to seven years to pay, no questions asked. This may encourage more low-income workers to take the final step and contact HMRC. In this, the latest in our current ...