In brief: 21 February 2019

Royal assent

The Finance (No 3) Bill 2017-19 received royal assent on 12 February to become the Finance Act 2019.

tinyurl.com/finact2019

Employer Bulletin

HMRC’s latest Employer Bulletin includes articles on end of year reporting student loan notices postgraduate loans starter checklist and payrolling benefits.

tinyurl.com/ebfeb19

Loan charge

HMRC has updated Issue briefing: disguised remuneration charge on loans. It emphasises that those affected will not be forced to sell their main home and HMRC will consider insolvency only when scheme users are at risk of accruing further debt or actively avoid paying. It confirms that taxpayers who registered to settle before 30 September should receive a calculation by the end of February. HMRC has also set up a dedicated helpline 03000 534 226.

tinyurl.com/hmrc-loancharge

Inheritance tax

In Spotlight 48 HMRC confirms it will not demand a deed of release or exclusion in respect of inheritance tax before agreeing a contractor loan charge settlement. But...