Disguised remuneration: independent loan charge review

The independent review of the disguised remuneration loan charge has now concluded and the government has published its response.



In September 2019, the Chancellor commissioned Sir Amyas Morse to lead an independent review into the disguised remuneration loan charge. Sir Amyas was asked to consider whether the policy is an appropriate response to the tax avoidance behaviour in question, and whether the changes the government has announced to support individuals to meet their tax liabilities have addressed any legitimate concerns raised.

The review has concluded and the government has published its response. HMRC has published guidance setting out what this means for those affected.

In December 2020 HMRC published their report on actions they have taken to implement all of the nineteen accepted recommendations of the Independent Loan Charge Review. This report fulfils recommendation 14 of the Independent Loan Charge Review which specifically asked that HMRC report to Parliament on its implementation of the Loan Charge before the end of 2020.

Published 11 September 2019
Last updated 4 March 2021 + show all updates
  1. The loan charge helpline phone number has been changed from 03000 599110 to 0300 322 9494.

  2. The information about making a late election to spread your outstanding loan balance has been updated.

  3. Page updated with links to 'Independent Loan Charge review: HMRC report on implementation' and HMRC's 'Interest rate review'.

  4. Added information on applying for a late election to the disguised remuneration guidance.

  5. We have updated the guidance with information on what customers affected by the loan charge should do now the 30 September 2020 deadline has passed.

  6. We have updated the guidance and included information about the voluntary restitution refunds.

  7. Published 'Independent loan charge review: HMRC’s review of future policy on interest rates within the tax system'.

  8. The page was updated on 27 February with new information about what employers should do following the outcome of the Review.

  9. Guidance following the outcome of the independent loan charge review has been updated to include information about accelerated payment notices, Inheritance Tax and disclosure. It includes more information about filing Self Assessment tax returns, late payment interest and payments on accounts.

  10. Updated with review document, government response document, and updated guidance.

  11. Updated with 'Letter from the FST to Sir Amyas Morse'.

  12. Updated text under 'contacting the review and providing supporting evidence'

  13. The page has been updated to add the contact details for the review, explain that people can send it evidence, clarify who has published the supporting documents on the page, and shorten the description of the review. Also updated document title for 'Disguised remuneration: Loan charge review'

  14. First published.