Government announce review into the Loan Charge
In a press release issued on 23 January 2025, the Government announced ‘a new independent review into the Loan Charge’ to be led by Ray McCann. At the same time, HMRC published an operational briefing relating to the review.
According to the press release issued on GOV.UK on 23 January 2025, Minister James Murray has commissioned Ray McCann to lead ‘a new independent review into the Loan Charge’.
The documents published yesterday by HM Treasury include:
- Written ministerial statement
- Letter from the Minister to Ray McCann, the reviewer
- Terms of Reference for the review
In addition, HMRC published a briefing which they say explains the operational activity that HMRC will undertake during the review for those who have used disguised remuneration (DR) tax avoidance arrangements. It states that HMRC will be writing to those who have outstanding amounts relating to their use of disguised remuneration arrangements by mid-March 2025 to assign them a named HMRC contact, set out whether HMRC think the DR arrangements they used will be considered by the review or not, and explain what the next steps are for those individuals.
HMRC’s briefing also confirms that questions about the scope of the review or the terms of reference should be directed to HM Treasury either by email: [email protected] or by phone 020 7270 5000.
Queries about the operation of the review should be directed to the review team: [email protected].
