TAX FREE LOANS – What is the 2019 loan charge?

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Affecting 50,000 taxpayers, the 2019 loan charge came into effect on Friday 5 April 2019

And what problems it has caused!  not least due to HMRC’s chaotic management of the cases wishing to settle up and the huge lack of their resources in trying to resolve 24,000 cases who have offered to pay back the tax penalty free, before 5th April.

Well it hasn’t happened, and I am personally still awaiting replies to letters sent to them in the middle of 2018!

So, ...

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Making a full disclosure HMRC Campaigns

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Making a full disclosure HMRC Campaigns

Over the years HMRC has run a series of campaigns being opportunities for taxpayers to come forward and bring their tax affairs up to date. Each campaign is targeted at a specific taxpayer group or type of taxable activity. However there have been no new campaigns launched recently, and most campaigns have now closed.

Here are the ones still open where you can notify and basically come clean and benefit from lower penalties and a prompt ...

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It’s not just the tax! Penalties greatly enhance the tax take!

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It’s not just the tax! Penalties greatly enhance the tax take!

 

The start of any enquiry our investigation penalties will be considered for basically any error or omission in the Persons tax return or failure to declare taxable income. These penalties are based entirely on your behaviour from the start and how quickly and fully you tell them the situation, help them get to the bottom of it I’ll give them the records and information they need.

Disclosing matters quickly is the ...

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