In the UK, once you take a loan against an unrealised gain, you just realised the gain. Otherwise, it would quite easily be used as a disguised remuneration package, specifically used to avoid tax. This is standard practice is countries who haven’t had their tax laws completely and utterly perverted by billionaires. Ours is “only” mostly.

To me, they’re lying to push a narrative. No one’s turning down a payrise because of that. Only stupid people who have never been offered that kind of money would ever make that kind of claim. So, I agree They’re idiots. Just in a slightly different way.