HMRC has confirmed a further relaxation of its payment arrangements for those wishing to settle liabilities from disguised remuneration schemes on favourable terms before the loan charge comes into effect on 5 April 2019.
Taxpayers with expected 2018/19 taxable income below £30,000 will now be allowed to spread payment over seven years. Those with income above £30,000, but below £50,000, can pay over five years.
These terms are still subject to the proviso that the individuals concerned:
are no longer engaged in tax avoidance; and
settle their disguised remuneration tax affairs or give the information needed to do so before 5 April 2019.
HMRC has confirmed a further relaxation of its payment arrangements for those wishing to settle liabilities from disguised remuneration schemes on favourable terms before the loan charge comes into effect on 5 April 2019.
Taxpayers with expected 2018/19 taxable income below £30,000 will now be allowed to spread payment over seven years. Those with income above £30,000, but below £50,000, can pay over five years.
These terms are still subject to the proviso that the individuals concerned:
are no longer engaged in tax avoidance; and
settle their disguised remuneration tax affairs or give the information needed to do so before 5 April 2019.
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