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We summarised the loan charge position and the next actions for clients facing it in last week’s issue (‘Where do I stand?’ 12 September 2019 page 8). It is so controversial that the landscape has changed again. But what does this mean in practice for those with imminent reporting and filing deadlines?
On 4 September 2019 during prime minister’s questions Boris Johnson announced a review into the loan charge after pressure from campaigners.
The prime minister’s words were treated with some scepticism in the accounting profession but true to his word a review independent of HMRC was announced on 11 September.
The Treasury said an independent review would be undertaken by Amyas Morse former chief executive of the National Audit Office. The review commissioned by chancellor of the Exchequer Sajid Javid will consider whether the loan charge is an...
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