HMRC has extended the settlement deadline for contractors who have used disguised remuneration loan schemes by a further 4 months to 30 September.

HMRC’s settlement scheme opened in November 2017 with a registration and information deadline of 31 May 2018 for taxpayers wishing to settle on favourable terms before the new loan charge comes into effect on 5 April 2019. HMRC advise that those looking to settle their tax affairs should register their interest with HMRC asap and provide all of the required information by 30 September 2018. If they do not receive all the information by 30 September 2018 HMRC may be unable to reach a settlement before the loan charge arises.