Article preview: Taxpayers with loan charge reporting and payment obligations have until next Wednesday to address both issues. According to the Low Incomes Tax Reform Group, people who have previously worked through ‘umbrella’ companies should double-check whether they have any liabilities. The loan charge is a tax charge on any outstanding disguised remuneration loans; arrangements that paid loans instead of ordinary income to avoid income tax and National Insurance contributions.
Time is running out for loan charge actions
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This 589 word blog post carries a warning for taxpayers subject to the loan charge, with a looming reporting and payment deadline. Written on 23rd September 2020.
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