LITRG has expressed concern over the
challenges faced by those attempting to agree loan charge settlements which
resulted in them failing to meet the 30 September 2020 deadline. Some of
the issues included delays in HMRC sending out settlement offers which resulted
in individuals having ‘little time to agree them or seek advice’,
misunderstandings about the administrative formalities required in agreeing a
settlement, and unexpected final figures from HMRC.
Although HMRC is extending the 30 September 2020 deadline where
someone was unable to reach a settlement agreement due to exceptional reasons
beyond their control, LITRG believes HMRC’s approach to what constitutes
exceptional reasons is ‘too narrow’. LITRG calls for HMRC to be sensible and
pragmatic regarding the missed loan charge deadline and to take a wide view of
what constitutes exceptional reasons, particularly where those affected had
tried to comply with their obligations
LITRG has expressed concern over the
challenges faced by those attempting to agree loan charge settlements which
resulted in them failing to meet the 30 September 2020 deadline. Some of
the issues included delays in HMRC sending out settlement offers which resulted
in individuals having ‘little time to agree them or seek advice’,
misunderstandings about the administrative formalities required in agreeing a
settlement, and unexpected final figures from HMRC.
Although HMRC is extending the 30 September 2020 deadline where
someone was unable to reach a settlement agreement due to exceptional reasons
beyond their control, LITRG believes HMRC’s approach to what constitutes
exceptional reasons is ‘too narrow’. LITRG calls for HMRC to be sensible and
pragmatic regarding the missed loan charge deadline and to take a wide view of
what constitutes exceptional reasons, particularly where those affected had
tried to comply with their obligations
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