10 things you should know about Contractor Loan Scheme’s straight from the horses mouth…

HMRC Guidance
Published 5 February 2016
Contents

The loans are taxable
HMRC never approves schemes
HMRC challenges undisclosed tax schemes too
Our success rate in litigation means that you should get out of avoidance
You may receive an accelerated payment notice (APN)
You might have to pay Inheritance Tax too
You may end up damaging your working relationships
We may need to contact your mortgage provider and other creditors
The risk is all your own
Don’t be tempted by any new types of schemes

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