2019 Loan Calculation
Dear HM Revenue and Customs,
How will HMRC calculate the amounts subject to tax on the 2019 loan charge. I have read several articles that state that HMRC officers are being told to charge on a gross basis (ie ignoring fees charged by the entity issuing the loan).
This would seem wrong on 2 levels.
A loan is the amount received not the amount grossed up for charges
These charges will have been subject to corporation tax already (double taxation)
Please clarify HMRC's position on this.
Yours faithfully,
S Gray
Our ref: FOI2018/00851
Dear Simon Gray,
Freedom of Information Act 2000 Acknowledgement
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HMRC Freedom of Information Act Team
Dear Mr Gray
I am writing in response to your request for information, received 19
April 2018.
Yours sincerely,
HMRC Freedom of Information Team
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