Disguised remuneration Loan Charge – 20th September 2020 deadline

PAYadvice (as an AML HMRC regulated agent) can assist with the filing of the Loan Charge form on your behalf. If you need our assistance please make contact stating ‘Loan Charge’ within your contact message.

HMRC have confirmed that any outstanding disguised remuneration loans that are subject to the Loan Charge must report the details by 30‌‌ September 2020.

This can be completed by using the:

Loan charge
online form

Updated to allow an election to spread any outstanding loan balance evenly across 3 tax years (2018-19, 2019-20 and 2020-21).

The deadline to make an election is 30‌‌ September 2020. Once an election is made it cannot be withdrawn. The form should be complete and accurate to the best of your knowledge.

It is used to:

  • report an outstanding loan balance for the first time
  • resubmit information to correct inaccuracies in a previous form
  • make an election to spread the Loan Charge balance.

If a form has already been submitted and the information provided was complete and accurate, the have statutory obligation has been met. You do not need to submit another form, even if the outstanding balance has changed following the Loan Charge review. However, the form must be used to make an election to spread a loan balance. The form allows an individual to make an election without the need to resubmit information previously provided.

If you do not wish to elect to spread their Loan Charge balance, but the balance subject to the Loan Charge has now changed following the review, the new form can be used to provide the updated loan balance.

If you need a paper copy of the form, you can call 03000 599110 to ask for one.

Further help and support   

HMRC encourages anyone who thinks they may have difficulties paying to get in touch. They will help by considering individual circumstances and working to agree an affordable payment plan.

Anyone with concerns can call HMRC on 03000 599110 or email ca.loancharge@hmrc.gov.uk.

PAYadvice.UK 20/5/2020

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