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<p>In the 2019 Independent Loan Charge Review, Lord Morse recommended that the Loan
Charge should only apply to loans made on or after 9 December 2010. The Government
accepted this recommendation.</p><p> </p><p>Lord Morse was also clear that, for years
before this date, where there is an open enquiry or assessment under appeal, HM Revenue
and Customs (HMRC) should still have the ability to pursue the tax due under the existing
rules. HMRC has proceeded on this basis and it is its policy to collect tax where
it has the ability to do so.</p><p> </p><p>As part of its overall compliance processes
and its commitment to update taxpayers at least annually, all of these taxpayers should
have received correspondence from HMRC in the last 12 months.</p><p> </p><p>When HMRC
opens an enquiry, the information sheet provided includes information about a taxpayer’s
right to apply to the First Tier Tribunal for the enquiry to be closed. One of the
grounds for making such an application is where there has been an excessive delay
during which a taxpayer has not received any communication from HMRC.</p>
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