Loan charge guidance – the fog clears (a bit)

Loan charge guidance – the fog clears (a bit)

by | Aug 14, 2020 | Update

HMRC have now published guidance on the implications of the Finance Act 2020 changes for ongoing disputes and settlement discussions. As ever, there are a few steps forward and a few steps back. There’s also lots to do before the (now absolutely fixed) 30 September...
HMRC coming out of lockdown – 6 things to look out for

HMRC coming out of lockdown – 6 things to look out for

by | Jun 17, 2020 | Update

Now that HMRC are recommencing compliance activity, there are six key issues which I think they’ll be focussing on over the coming months. These are: Employee Benefit Trusts and EFRBS Dispute Resolution and ADR The Finance Act 2017 Corporate Criminal Offence CJRS...
Disguised Remuneration Loan Charge – is it time to act?

Disguised Remuneration Loan Charge – is it time to act?

by | May 29, 2020 | Update

HMRC’s ‘pause’ on compliance activity now appears to have ceased. One of the consequence of this is that a number of my clients have received letters offering settlement terms in respect of EBT’s and EFRBS. Discussions had previously been paused until the...
Bella Figura, advice and carelessness

Bella Figura, advice and carelessness

by | May 12, 2020 | Update

Establishing reasonable excuse and reasonable care in cases where clients have taken advice can be tricky and HMRC can be resistant. The recent decision of the Upper Tribunal in Bella Figura should help. HMRC officers seem increasingly reluctant to accept that clients...
Loan charge draft legislation and guidance

Loan charge draft legislation and guidance

by | Mar 24, 2020 | Update

The draft legislation and some associated guidance following the Morse report were published as part of the budget package. The guidance and legislation which has been published is (unsurprisingly for those who have been following this closely) complicated. At a high...
Confusion continues on loan charge changes

Confusion continues on loan charge changes

by | May 21, 2019 | Update

A high degree of uncertainty remains for Individuals who have received loans from EBT’s despite most of the recommendation of the loan charge review led by Sir Amyas Morse being accepted. The central plank of the recommendations was that loans made before 9 December...