HMRC Begins Notifying People Subject to ‘Loan Charge’ Review

The UK tax authority started informing people whether the salary they received as “disguised loans” would be subject to a recently launched review of a back tax meant to deter use of the loans.

His Majesty’s Revenue and Customs sent letters to people beginning Feb. 10, along with a question-and-answer document, to inform them whether HMRC believes the loan arrangements they used will be considered by the review, according to a statement from the office Wednesday.

The UK government in January launched an independent review of the so-called “loan charge” and how disputes surrounding it are settled.