Loan Charge Impact

Independent account highlighting the true impact of the government's #LoanCharge policy to Loan Charge victims and their families.

[Loan Charge Impact @LC_Impact]

Recent @loanchargeAPPG tweets highlighted heartbreaking impact of #LoanCharge on lives. Victims are crying out for an end to this nightmare, who is listening? #LoanChargeScandal

https://t.co/yfU0exrmI5

[Loan Charge & Taxpayer Fairness APPG @loanchargeAPPG]

“My mental health has suffered greatly & I am seen as a vulnerable person by #HMRC. My wife, who has suffered 3 strokes, is at her wits end & I fear that this could cause another stroke or worse. As I'm 72 in August & have a cancer diagnosis, no one knows how long I have left”

[Loan Charge Impact @LC_Impact]

This whole debacle has had a catastrophic effect on my life and family, my physical and mental health. The uncertainty of 'not knowing' if - or when - this will ever be concluded hangs over me like the sword of Damocles

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

My mental health has gone downhill, and I no longer work (there's no point if HMRC is going to take everything I own anyway)

I have contemplated suicide many times, and lost any interest in life to be honest

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal
#LoanChargeSuicide

[Loan Charge Impact @LC_Impact]

@AMAZlNGNATURE To never give up? No matter how big your opponent? How apt...

[Loan Charge Impact @LC_Impact]

HMRC ignored all settlement communications from me. They agreed complaints on this. HMRC know my income is much lower than before and I have long asked them to make settlement affordable. They refused to do so

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

How is it right to retrospectively apply punitive legislation in ways which individuals could not be expected to foresee or prepare for?

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

Considerable long term stress – now over 8 years with unpayable APNs which I cannot resolve, plus long term harassment from HMRC

Breakup and divorce, as a direct result of the long term stress

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

HMRC obviously moved the proverbial goal posts...

...devised to be punitive, cover up HMRC inactivity – basically a hatchet job to meet an internal agenda by any means & at any cost!

@LCAG_2019 @loanchargeAPPG #LoanChargeScandal

[Loan Charge Impact @LC_Impact]

Got put on suicide watch by my wife due to depression
Sick to read the result of the FOI and the inactions
Still living in fear of more demands of tax and IHT
Still a major impact on my well being on a daily basis

@LCAG_2019 @loanchargeAPPG #LoanChargeScandal

[Loan Charge Impact @LC_Impact]

I have always paid my taxes & went into this having done due diligence & was informed it was within the laws...pointed out it wasn't I left this scheme immediately, this should not be a 'retrospective charge', totaly, totally wrong

@LCAG_2019 @loanchargeAPPG #LoanChargeScandal

[Loan Charge Impact @LC_Impact]

Am in process of appealing with support from new Accountant company. My original accountants, Ad Valorum, put me onto the schemes

It amounts to me being asked to pay my earnings for 4 years

@LCAG_2019 @loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

They nearly destroyed me and my family, leaving us with no options...financial hardship

I considered taking my own life at several points due to the ongoing stress and impact, but managed to find help through long term medication

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

I am constantly worrying – I have a terminally ill wife and two young sons to support. I have no idea how much they will try to claw back... I worry that this will all be taken away as soon as HMRC issue their demands

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

Everyone in these schemes were not breaking the law at the time and we wrongly advised. The law was changed to enable HMRC to seek the employee instead of the employer for recovery of monies

...contemplated suicide a few times

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

I still have nightmares regarding the entire situation and have been traumatised by the fact that a law can be invoked in 2017… that can go back 20 years – so sad that this situation has been allowed to happen

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

I questioned the provider of the contract (Bedouin) and was assured it was all HMRC compliant, however I did not expect the new legislation to be backdated, which seems unconstitutional and unfair in many ways

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

At my lowest point I suffered many months of thoughts of suicide ideation and became emotionally repressed. My physical health also suffered and I stopped taking care of myself
As a result of this I have been diagnosed with depression
@LCAG_2019 @loanchargeAPPG #LoanChargeScandal

[Loan Charge & Taxpayer Fairness APPG @loanchargeAPPG]

#LoanCharge & #TaxpayerFairness APPG member @angusmacdlibdem has tabled Early Day Motion 1579 on Loan Charge & settlement terms offered to large companies & individuals.

Ask your MP to sign it! 📝⬇️

There must be a #LoanChargeInquiry

#LoanChargeScandal

https://t.co/bmW5R6zcd8

[Loan Charge Impact @LC_Impact]

I was contacted by no less than 17 umbrella companies in my first week all offering 80-85% take home, simple payroll solutions without the hassle of running a company

I was mis-sold these schemes as legally and tax compliant

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

I've also sent HMRC copied of my due diligence emails to them before joining the scheme and again once new legislation was introduced. Both times, they confirmed the legitimacy of the scheme...

@LCAG_2019
@loanchargeAPPG
#LoanChargeScandal

[Loan Charge Impact @LC_Impact]

My life feels like it's on hold as I without knowing how much more I may be liable for as a result of the Loan Charge means I cannot feel secure

@LCAG_2019 @loanchargeAPPG #LoanChargeScandal