HMRC has updated its briefing paper on settling disguised remuneration scheme use and paying the loan charge, to cover payment support options and to add further explanation about return filing arrangements. The section on settling with HMRC has been updated to remind taxpayers who want to spread their loan balance over three tax years to make an election by 30 September 2020 to avoid any late filing or late payment penalties or interest for the period from 1 February 2020 to 30 September 2020. HMRC has also set up a loan charge helpline for independent debt advice.
HMRC has updated its briefing paper on settling disguised remuneration scheme use and paying the loan charge, to cover payment support options and to add further explanation about return filing arrangements. The section on settling with HMRC has been updated to remind taxpayers who want to spread their loan balance over three tax years to make an election by 30 September 2020 to avoid any late filing or late payment penalties or interest for the period from 1 February 2020 to 30 September 2020. HMRC has also set up a loan charge helpline for independent debt advice.
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