The Employment and Trading Income etc. (Loan Charge Settlement Scheme) Regulations 2026
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3 Interpretation: loan charge amount
(1) In these Regulations, “loan charge amount” has the meaning given by section 25(7) of FA 2026 supplemented by the descriptions given in the following paragraphs. (2) Loan charge amounts which arise (in any tax year, or in any other period of time) in connection with a Schedule 11 or Schedule 12 to the F(No. 2)A 2017 loan or quasi-loan are— (a) any amount of income tax under an enactment; (b) any amount of national insurance contributions under an enactment; (c) any amount of late payment interest under section 101 of FA 2009 or under a contract settlement on amounts in paragraph (a) or (b). (3) Amounts of income tax and national insurance contributions include amounts self-assessed by a person under section 9(1) of TMA 1970, whether or not that assessment is final. (4) In this regulation, amounts of national insurance contributions are (within the meanings given by section 1(2) of SSCBA 1992 and section 1(2) of SSCB(NI)A 1992)— (a) primary Class 1 contributions, and (b) Class 2 and Class 4 contributions.
3 Interpretation: loan charge amount
(1) In these Regulations, “loan charge amount” has the meaning given by section 25(7) of FA 2026 supplemented by the descriptions given in the following paragraphs. (2) Loan charge amounts which arise (in any tax year, or in any other period of time) in connection with a Schedule 11 or Schedule 12 to the F(No. 2)A 2017 loan or quasi-loan are— (a) any amount of income tax under an enactment; (b) any amount of national insurance contributions under an enactment; (c) any amount of late payment interest under section 101 of FA 2009 or under a contract settlement on amounts in paragraph (a) or (b). (3) Amounts of income tax and national insurance contributions include amounts self-assessed by a person under section 9(1) of TMA 1970, whether or not that assessment is final. (4) In this regulation, amounts of national insurance contributions are (within the meanings given by section 1(2) of SSCBA 1992 and section 1(2) of SSCB(NI)A 1992)— (a) primary Class 1 contributions, and (b) Class 2 and Class 4 contributions.
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