Disguised remuneration repayment interest

The Finance Act 2009, Sections 101 and 102 (Disguised Remuneration Repayment Scheme) (Appointed Day and Consequential Amendment) Order, SI 2020/979, will enable HMRC to pay repayment interest on payments made under the 2020 disguised remuneration repayment scheme, which was published pursuant to FA 2020 s 20.

The repayment scheme gives effect to a recommendation from the independent loan charge review that certain voluntary amounts paid to HMRC to settle liabilities arising from the use of disguised remuneration schemes should be refunded. The order brings these repayments within the harmonised interest regime contained in FA 2009 s 101 and s 102 with effect from 5 October 2020.