HMRC Webinar Does Not Answer Questions, Say Contractors
Posted 20th December 2018 in News For Workers
According to a recent survey by ContractorUK, the recent HMRC webinar on the 2019 Loan Charge did not improve 33% of respondents’ understanding of the charge.
However, 22% of respondents claimed they were more likely to settle with HMRC over the charge as a result of the webinar.
However, 8% said the webinar had influenced them not to settle with HMRC.
The webinar, which took place on HMRC’s website on November 21st, featured explanations of how the 2019 Loan Charge is expected to affect contractors who have used disguised remuneration schemes.
The 2019 Loan Charge is aimed at recouping tax from disguised remuneration schemes, with the charge affecting anyone who has used such a scheme over the last two decades.
According to HMRC, the loan charge will apply to all loans made since April 6th 1999, if they are still outstanding on April 5th 2019.
“HMRC is writing to those affected to encourage people to come forward and settle under existing law before the loan charge applies,” states the official HMRC briefing, published in July.