Here is a statement from HMRC. None of our clients have entered in such a scheme but if you do know someone who has please mention this to them. This does not just effect big business. Unfortunately a lot of agency staff where conned into these schemes including nurses. They received payslips with the words tax on them but it was actually a commission. The earlier HMRC are contacted the better.
Here is HMRC’s recent statement:
If a scheme user is already speaking to someone in HMRC about their use of a disguised remuneration scheme, they should inform them they want to settle their disguised remuneration tax affairs.
If they’re not already speaking to someone at HMRC, they can contact us by emailing:
There is full guidance for people who want to settle their tax affairs on GOV.UK, including information about what information they need to send us by 5 April 2019, and how they can pay what they owe.
Difficulty paying what they owe
People don’t need to pay the full settlement amount in one go or on 5 April.
If anyone has difficulty paying what they owe, we can help by spreading payments across a number of years. There is no maximum time period for payment arrangements. HMRC will not force anyone to sell their main home to pay their disguised remuneration debts.
Even if scheme users feel they cannot pay what they owe, they should still call us as soon as possible.
HMRC’s message to anyone affected by the loan charge is to come and talk to us, and do so before the 5 April.