Use the online form to spread the charge

The online form to report disguised remuneration loans has been updated so that taxpayers can make an election to spread their outstanding loan balance evenly across three years – 2018-19  2019-20 and 2020-21. The deadline to make an election to spread any outstanding disguised remuneration loan balances is 30 September 2020. 

HMRC states that the form can be used to report an outstanding loan balance for the first time resubmit information to correct inaccuracies in a previous form as well as to make an election to spread the balance.

If a form has already been submitted on behalf of a client and the information provided at the time was complete and accurate to the best of their knowledge they have met their statutory obligation and they do not need to submit another form.

If a client does not wish to elect to spread their loan charge balance...