Following the recent undertaking by the Prime Minister for an independent review of the loan charge, the Chancellor has now commissioned Sir Amyas Morse to complete the review in advance of the 2018/19 tax return deadline.

The ‘loan charge’ applies to all outstanding third party disguised remuneration loans  made since 1999 which, if they had been made on 5 April 2019, would have fallen within the disguised remuneration rules

Sir Morse is the former Comptroller and Auditor General and Chief Executive of the National Audit Office and in conducting the review he will be supported by a team from HM Treasury and HMRC. His report is due by mid-November. The review will consider:

HMRC have issued additional guidance on the review advising taxpayers affected that:


The message from HMRC is clear: despite the review, those who have outstanding loans from disguised remuneration schemes and are not in the settlement process (if they have not already settled) must meet the 30 September deadline for reporting their loans to HMRC or face penalties.

Links to our guides:

Loan charge & disguised remuneration? Start here...

Disguised remuneration loan charge (subscriber guide)

FAQs for Disguised Remuneration Settlements

External link:

Disguised remuneration: Independent loan charge review