The Employment and Trading Income etc. (Loan Charge Settlement Scheme) Regulations 2026
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Change 1
4 Interpretation: loan charge gross liability
(1) In these Regulations, “loan charge gross liability” has the meaning given by section 25(7) of FA 2026 supplemented by this regulation. (2) When ascertaining P’s total loan charge amounts for the purpose of determining P’s loan charge gross liability, the Commissioners must— (a) remove any double taxation of income tax or national insurance contributions in connection with a Schedule 11 or 12 to F(No. 2)A 2017 loan or quasi-loan, (b) determine a just and reasonable amount they consider that they would seek to recover from P in respect of loan charge amounts if P were not to accept a settlement offer made under the Scheme, and (c) assume, for the purposes of this regulation, that P has, or will have, the means to pay the amount they determine.
4 Interpretation: loan charge gross liability
(1) In these Regulations, “loan charge gross liability” has the meaning given by section 25(7) of FA 2026 supplemented by this regulation. (2) When ascertaining P’s total loan charge amounts for the purpose of determining P’s loan charge gross liability, the Commissioners must— (a) remove any double taxation of income tax or national insurance contributions in connection with a Schedule 11 or 12 to F(No. 2)A 2017 loan or quasi-loan, (b) determine a just and reasonable amount they consider that they would seek to recover from P in respect of loan charge amounts if P were not to accept a settlement offer made under the Scheme, and (c) assume, for the purposes of this regulation, that P has, or will have, the means to pay the amount they determine.
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