Dedicated phone line for users to settle loan schemes

Guidance on disguised remuneration schemes has been published by HMRC ahead of the loan charge to be introduced next year. It states the Revenue has opened ‘tens of thousands of enquiries since these schemes started. As a result thousands of users have paid what they owed and have stopped using avoidance schemes.’

HMRC says: ‘So far over 24 000 scheme users have registered an interest to settle their tax affairs. HMRC has set up dedicated email and phone lines to help users settle and is working hard to bring all live cases to an appropriate conclusion.’

The department says taxpayers who may be affected by the loan charge should contact HMRC and send the information as soon as possible. This will ‘provide the best chance of reaching a settlement before the charge arises on 5 April 2019’. It asserts that it ‘wants to make it simple for people and...