Tue. May 21st, 2019

Loan charge – retrospective tax bills for freelancers

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The government has closed a tax loophole and applied retrospective charges on freelancers, with some getting unexpected tax bills of up to tens of thousands dating back to 1999.

The Loan Charge has affected people from a range of professions – IT contractors, oil and gas workers, locum doctors, social workers and nurses – who took advice from accountants, recruitment firms and tax advisers.

But the government is not backing down, despite opposition from some MPs including Conservative MP Ross Thomson who spoke to Politics Live’s John Owen, along with some of those who say they cannot afford the bills.

UK viewers can watch the full programme for 30 days from transmission

Loan charge ‘left me with a sense of dread’

IT contractors, oil and gas workers, locum doctors, social workers and nurses who took advice from accountants, recruitment firms and tax advisers face unexpected tax demands.

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