The CIOT has explained that HMRC are sending letters to some taxpayers affected by the loan charge provisions in relation to the tax year 2018-19.
The CIOT has provided a copy of the draft letter and accompanying schedule relating to the charge under ITEPA 2003, s. 222.
Related content from Claritax Books
This detailed, technical book on Disguised Remuneration and the Loan Charge, by tax barrister David Pett, is aimed squarely at professional advisers. The work explains the practical application of a body of tax legislation that was first enacted in 2011, and that has been amended or re-enacted in most subsequent years.