IRRV Alert - week ending 4th December 2020
News
Consultations
Reports
Disguised remuneration: independent loan charge review (3 December 2020)
Guidance
Disguised remuneration: independent loan charge review
The independent review of the disguised remuneration loan charge has now concluded and the government has published its response.
Published 11 September 2019
Last updated 3 December 2020 — see all updates
From:
HM Treasury and HM Revenue & Customs
Documents
Disguised remuneration: guidance following the outcome of the independent loan charge review
HTML
Independent Loan Charge Review: terms of reference
PDF, 158KB, 2 pages
Letter from the FST to Sir Amyas Morse
PDF, 132KB, 1 page
Independent Loan Charge Review: report
PDF, 1.13MB, 83 pages
The Government’s Response to the Independent Loan Charge Review
PDF, 303KB, 19 pages
Independent loan charge review: HMRC’s review of future policy on interest rates within the tax system
HTML
Independent Loan Charge review: HMRC report on implementation
https://www.gov.uk/government/publications/independent-loan-charge-review-hmrc-report-on-implementation
Interest rate review
https://www.gov.uk/government/publications/interest-rate-review
Details
In September 2019, the Chancellor commissioned Sir Amyas Morse to lead an independent review into the disguised remuneration loan charge. Sir Amyas was asked to consider whether the policy is an appropriate response to the tax avoidance behaviour in question, and whether the changes the government has announced to support individuals to meet their tax liabilities have addressed any legitimate concerns raised.
The review has concluded and the government has published its response. HMRC has published guidance setting out what this means for those affected.
In December 2020 HMRC published their report on actions they have taken to implement all of the nineteen accepted recommendations of the Independent Loan Charge Review. This report fulfils recommendation 14 of the Independent Loan Charge Review which specifically asked that HMRC report to Parliament on its implementation of the Loan Charge before the end of 2020.
Published 11 September 2019
Last updated 3 December 2020 + show all updates