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Posted Wed, 14 Aug 2024 16:16:15 GMT by Jack S
I am given small amounts of money from a personal sponsor in the EU to fund a project in the UK. None of the money is repayable and no interest is charged. Do I have to pay any tax in the UK on these monies? Thank you.
Posted Wed, 28 Aug 2024 12:52:55 GMT by HMRC Admin 5 Response
Hi 

This loan may be considered a 'disguised remuneration' and as such is taxable in the UK.  
Please have a look at Tax avoidance loan schemes and the loan charge.

Thank you
Posted Wed, 28 Aug 2024 13:04:08 GMT by Jack S
Thank you for the feedback. Appreciated.

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