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<p>Following Lord Morse’s Independent Loan Charge Review, the Government introduced
legislation requiring HMRC to establish a scheme to repay relevant Voluntary Restitution
elements of disguised remuneration settlements.</p><p>These amounts were voluntary
payments that taxpayers had agreed to make as part of settlements concluded before
changes were made to the scope of the Loan Charge. Individuals and employers had until
30 September 2021 to apply to HMRC for a refund or waiver.</p><p>HMRC repays amounts
that were paid in disguised remuneration scheme settlements, and/or waives amounts
of instalments due that have not yet been paid if certain conditions are met.</p><p>As
of 17 December 2021, HMRC had processed approximately 1330 applications, of which
approximately 925 had received either a repayment, a waiver, or both. Approximately
405 of the applications processed at that date were either invalid or ineligible.</p>
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