Reply to post: Re: Loan Charge?

Contractors slam UK taxman's 'aggressive' IR35 tax reforms

Anonymous Coward
Anonymous Coward

Re: Loan Charge?

Well, Loan Charges are highly debatable. People have been submitting their Tax Returns with those loans declared over all those years and HMRC were signing those off. Once Tax Return is submitted, HMRC had a year to complain, yet, they have not challenged a single one. Roll on 15 years later, they are declaring all those loans "illegal" since 1999, and are trying to retrospectively charge tax on those practices they have never challenged. the way this change was presented to the MPs is a different matter for discussion.

PS

How about government change speed limit now to 60mph, valid from 1999, and then issue penalty notices for everyone doing 70mph since?

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