036 Loan Charge Settlement Proposal
Today we’re honoured to talk to two of the lead creators of the Loan Charge settlement proposal, Sarah Gabbai, tax lawyer at McDermott Will & Emery; and Keith Gordon, tax barrister at Temple Tax Chambers. The Loan Charge is a piece of legislation that seeks to charge people tax on income that they received going […]
FCSA Quizzed About Recent Cyber-Attacks On Umbrellas
An All Party Parliamentary Group of MPs has written to FCSA seeking assurances regarding the recent cyber-attacks that have hit a minority of FCSA members. The Loan Charge & Taxpayer Fairness APPG letter, dated 24 January 2022, is in relation to ongoing correspondence about FCSA’s Charter, and the concluding paragraph states: Lastly we note with […]
Tax Professionals Propose Loan Charge Solution
The professionals, comprised of tax lawyers, tax advisers and accountants, led by Sarah Gabbai of McDermott, Will and Emery, have taken action due to the increasing concern about the impact on thousands of families if HMRC enforce the Loan Charge. They have come together to offer a new voice to the debates on the issue […]
Government Must Answer Urgent Loan Charge Questions
The Loan Charge and Taxpayer Fairness APPG has written to the new Financial Secretary to the Treasury, Lucy Frazer QC MP, with 10 key questions on the Loan Charge that need answering, as they tackle some of the key reasons why the Loan Charge is fundamentally flawed, as well as unfair. The letter, sent from […]
Loan Charge Review Conclusion Unsound And Unjustifiable
Damning new evidence shows that the loan charge review conclusion was fundamentally flawed and Sir Amyas Morse (now Lord Morse) who headed up the review has been told it must be revisited. The Loan Charge Action Group (LCAG) has written to Lord Morse with evidence that his conclusion that “the law was clear from December […]
Chancellor Urged To Pause Loan Charge Activity
In their submission to Rishi Sunak’s forthcoming Budget (due on 27 October 2021), the Low Incomes Tax Reform Group (LITRG) have urged him to pause all loan charge activity, and to review the current loan charge situation. Many people are still being paid via disguised remuneration schemes, often by umbrella companies which are not even […]
009: The Loan Charge – an Exclusive Interview with LCAG Founder Steve Packham
Following on from our recent podcast chat with a loan charge victim, we have an exclusive interview with Steve Packham, Founder of the Loan Charge Action Group (LCAG). We created this extra episode to bring you an overview of many peoples experience of the loan charge, and to dispel the myth that it is somehow […]
007: The real life impact of the loan charge – hear one person’s story
Today we’re talking to a victim of the loan charge, and it is essential to get this heard by as many people as possible so that others do not have to suffer the same awful experience. There are a lot of misunderstandings about the people who fall victim to the loan charge, with some suggestion […]
What is the Loan Charge?
To tackle disguised remuneration schemes, the Loan Charge was introduced in the Finance Act 2016, becoming law on 5 April 2019. However, following criticism of the policy and effect of the loan charge on some to whom it was applicable, an independent review of the rules was undertaken and amendments to the rules announced in […]