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answer text |
<p>HM Revenue and Customs (HMRC) will not apply the loan charge to a tax year where
an enquiry was closed on the basis of fully disclosed information.</p><p> </p><p>This
applies where an individual has provided details about their use of a disguised remuneration
scheme to HMRC, for example on their tax return, HMRC have opened an enquiry, and
HMRC have subsequently closed their enquiry without making an adjustment to the tax
position in respect of that scheme. In these instances HMRC will not apply the loan
charge to the outstanding loan balance for that year.</p>
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