The April 2019 loan charge – what now?

Lewin Higgins-Green considers the government’s response to the loan charge review and what affected taxpayers should be doing

In last year’s edition of Employment Taxes Voice we discussed the legislation introduced by the Finance Act (No 2) 2017 to tax the value of any pre-existing disguised remuneration loans dating back to 6 April 1999 – the “loan charge”. HMRC was originally expecting up to 50,000 individuals to be impacted and that the loan charge would raise £3.2 billion in tax revenue (https://tinyurl.com/qng774b).