Loan Charge & Taxpayer Fairness APPG Nigel Huddleston MP Clear Jeremy Hunt & Nigel Huddleston MP are not listening when it comes to the #LoanCharge Scandal
1. They have ignored the Morse 'independent' #LoanCharge review by allowing #HMRC to issue 3000 S684 pre review demands going back up to TWENTY years
2. They have ignored the
Excellent piece Faye!
S684 use in PAYE regs was NEVER supposed to be used RETROSPECTIVELY!
Every taxpayer shld be v. alarmed about this “new found” power! EMPLOYER could s/down w/out paying PAYE leaving EMPLOYEE WITH BILL!
Think ppl at .HM Revenue & Customs will use this carefully?!?
WTT have known since at least Feb 2019 that a change on 22nd November 2017 means a claim for PAYE credit (s684), even if successful, cannot be relieved against the #loancharge
No other adviser is arguing that in tax the general overrules the specific!🤦♂️
Warnings?
Kerching 💰💰💰
How many #loancharge victims were taken in by being told - it's not your fault, you did nothing wrong, join a Big Group (and pay a big fee of up to £3,600 to WTT)?
How many will now be encouraged to pay another £1,200 to WTT hoping for an answer to s684?
Has anyone with a loan scheme before 2010 received a s684 letter in recent years? Interested to hear from you - please DM me or email [email protected] #LoanChargeScandal
Great article. The Morse Review recommended that the retroactive application of the LC should be reduced to 10 years but HMRC refuse to pay refunds by keeping enquiries open and issuing S684 notices which virtually gives them carte blanche to do what they like
#LoanCharge