HMRC release briefing detailing the settlement of disguised remuneration schemes
11 April 2022
Her Majesty’s Revenue and Customs (HMRC) has released a policy paper detailing the settlement of disguised renumeration schemes and/or paying the loan charge. The briefing explains what disguised renumeration and the loan charge are, what customers need to do now and what action HMRC may take.
Customers who wish to settle outstanding tax on disguised renumeration loans may do so by contacting HMRC. Doing so now will mean the individual will settle under the 2020 settlement terms.
Where individuals do not engage directly with HMRC, action may be taken within their debt enforcement powers. The briefing provides further detail on HMRC’s approach and next steps for recovery of debts owed to them.
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