[ləʊn ʧɑːʤ]
A Loan Charge is a tax for individuals who were previously paid with a loan that was never intended to be paid back. The individual or employer may be liable.
A Loan Charge is a tax in the United Kingdom that is placed upon people involved in Disguised Renumeration schemes. It was introduced in 2019 to allow HMRC to recoup lost revenue from these people.
When the Loan Charge was first introduced, it was a single charge of 45% on all disguised loans from 1999 to 2019. However, the rules have now changed to only apply to loans from December 2010 to present.
The tax liablities fall on the employer if they set up the scheme. However, if the employer no longer exists, the Employee is liable to pay
There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.
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Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.
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