Has HMRC contacted you even though you thought that you had solved your loan charge liability?
The Loan Charge Review in 2019 narrowed the scope of loans to which HMRC may apply charges to those taken from employee benefit trusts or other similar structures from 2010 onwards (and from 2016 onwards if such loans were disclosed to HMRC).
We are receiving an increasing number of enquiries from taxpayers who had been offered alternatives to paying the loan charge, including support for repaying their loans ahead of the tax law coming into effect. Some taxpayers were led to believe that they had repaid their loans, however, HMRC are viewing such schemes as an attempt to avoid the Loan Charge.
If you are in this situation, and especially if the correspondence you received in this regard was from a trust called “Venturis”, please get in touch. There are still opportunities to settle your obligations with HMRC.
If you need expert legal advice to settle alleged loan charge obligations, please get in touch on 01926 732512 or email or using the contact form.