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Posted Fri, 06 Sep 2024 14:34:05 GMT by Haydnrs
Hello I held shares in a company which I left in 2023. The value of the shares were loaned to me via an employee notional loan. In 2024 due to financial difficulties the company redistributed the share holding and declared that my share were Nil value. Essentially the company loan and share holding was linked and therefore I believed the loan was cleared with nothing oweing. On my P11d, the loan amount is showing as being written off but I never received the loan as cash etc. now when my accountant is preparing my return the loan amount is showing as a benefit in kind in which a significant tax liability arises. My loan for the shares was over £10k. Can someone please advise how I can report that the loan was not written off with a cost benefit to me. As the loan value and share value was intrinsically linked. This leaves me potentially paying tax on a benefit (loan for shares) neither of which I have had. Thanks in advance
Posted Mon, 16 Sep 2024 14:47:37 GMT by HMRC Admin 19 Response
Hi,
Unfortunately, we are unable to provide specific advice tailored to individual circumstances on this forum. This forum is for general queries only and is intended to help you self-serve. However, your accountant should be able to help you with this. 
Alternatively, you may wish to contact HMRC regarding your individual tax matters using the contact information here: 
Income Tax: general enquiries
Thank you.

 

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