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<p>The Government published Sir Amyas Morse’s independent review of the Loan Charge
on 20 December, alongside the Government’s response to his recommendations. The Government
welcomes Sir Amyas’ recognition that disguised remuneration schemes are a form of
tax avoidance and that action was needed to tackle their use. However, the Government
recognises concerns raised by the Review about the design of the Loan Charge and the
impact on those liable to pay it and is therefore accepting all but one of the Review’s
recommendations. The Government will ensure taxpayers have sufficient time to consider
the impact of these changes on their tax position and individuals can now defer submitting
their tax return and paying their Loan Charge liability until 30 September 2020, without
incurring any penalties or interest.</p><p> </p><p> </p>
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