A number of individuals are under criminal investigation by HMRC for offences linked to DR (disguised remuneration) schemes subject to the loan charge, the chief executive of HMRC has told MPs.
Jim Harra, chief executive and first permanent secretary of HMRC, said that, while there have been no prosecutions of individuals for the promotion and operation of schemes subject to the loan charge, one individual involved in selling these schemes has been convicted for a related offence. The Treasury Committee has published correspondence from HMRC related to the loan charge and the department’s approach to tackling disguised remuneration tax avoidance schemes.
In the letter, Mr Harra states: “In May 2022, we estimated around 40,000 individuals and 5,000 employers were affected by the loan charge and were yet to settle with HMRC, including those who had settled some but not all of their liabilities. We cannot provide data on how much tax these taxpayers owe because we do not have complete records of the DR loans they had outstanding. In most cases, this is because they have not provided the information needed to settle their affairs.
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