You don't have to be an entity.I’m a bit confused though. Me and my husband are not an enterprise or entity
Ok, got it.You don't have to be an entity.
Take a farmer for example. He's a person. If he borrows to buy farmland, the loan is for a business purpose. Therefore SME code applies. But if he borrows for home improvements then CPC applies.
The loan you've described is a classic business loan, so UB have obviously classed you as a business customer, for that loan.
What are the chances of the taxman ever knowing about this ? Even if they did it they would have to accept that it was something you didn't know about and would be very harsh to seek penalties and interest. I'm sure the pedants here will have a different view though.If it turns out that I overclaimed interest is say 2013 on my tax return, does that mean I'm liable for penalties and interest to revenue? And if yes, is it not the bank that should have to pay this.