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Disguised remuneration: HMRC revises settlement terms

31/07/2018
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On 1 June 2018, HMRC announced that it will continue to allow taxpayers who took part in a disguised remuneration arrangement to register an interest in settling their tax affairs. The settlement opportunity was originally announced on 7 November 2017, and at that time HMRC set a deadline of 31 May 2018 for taxpayers to register. The 31 May 2018 deadline has now been removed.

HMRC continues to require the provision of all necessary information by 30 September 2018. However, the updated guidance suggests that that deadline is not absolute; HMRC warns taxpayers that if the information is provided after 30 September 2018, it may be too late to agree settlement terms before the loan charge arises on 5 April 2019.

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Caroline Harwood
Caroline Harwood
Partner, Head of Share Schemes and Employment Tax
London