Financial services disputes

A call for the 2019 Loan Charge to be amended

The Early Day Motion states “this House expresses its concern at the 2019 Loan Charge;.....notes that HMRC are aggressively pursuing individuals through Advanced Payment Notices with no independent right of appeal; further believes that the Charge is likely to cause financial distress and bankruptcies, impeding HMRC's ability to recover these tax liabilities and causing a devastating impact on people; believes that retrospectively taxing something that was technically allowed at the time, is unfair; ....

The 2019 Loan Charge

For those affected, the Finance (No. 2) Act 2017 contains some of the most significant changes to tax legislation in recent memory (the 2019 Loan Charge). The government has extended the deadline for registering an intention to settle from 31 May 2018 to 30 September 2018. Some of the clients we have advised in relation to the changes are considering entering into insolvency arrangements for their companies and personally; whilst a number are pursuing their negligent advisers for the losses suffered.
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