Settlement terms for users of Contractor Loans schemes and other Disguised Remuneration tax avoidance schemes
15 December 2017
HMRC has conducted a review of its settlement terms across the range of disguised remuneration tax avoidance schemes. As a result of this review, it is standardising its acceptable terms across the range of these schemes.
These terms, along with details on how to register to settle and by when, have been published on GOV.UK.
Contractor Loans Schemes
For the vast majority of Contractor Loans schemes, HMRC will now settle on the net basis, that is to say, the tax liability will be based on the loan amount, instead of the gross basis (loan amount plus scheme costs).
Please be aware that the published terms may no longer be available once your client’s appeal has been referred to the Tribunal. Participants of any Contractor Loan schemes or other disguised remuneration schemes are therefore strongly advised to contact HMRC and settle their cases without delay.
HMRC has recently updated guidance on disguised remuneration schemes to reflect updated email addresses for contacting HMRC to discuss settlement - HMRC guidance: Tackling disguised remuneration updated.
Register for digital meeting
Experts involved in settling disguised remuneration cases will be attending the following digital meetings.
Disguised Remuneration: How to settle your tax affairs if you are an employer.
Tuesday 30 January 2018 - midday to 1pm Register now
Disguised Remuneration: How to settle your tax affairs if you are in a contractor loans scheme.
Tuesday 6 February 2018 - midday to 1pm Register now