Loan charge discovery assessments – 2018/19

HMRC are issuing discovery assessments to people who they believe should have submitted a 2018/19 tax return containing the loan charge and who either did not include it on their return, or did not include it fully. A news article with further information about these assessments, and what to do if you receive one, can be found on the CIOT’s Low Incomes Tax Reform Group’s website. 

Sample copies of the notice of assessment and accompanying covering letters are provided below.

Notice of assessment – 2018/19
Disguised remuneration loan charge covering letter to taxpayers employed by an employer  – discovery 2018/19
Disguised remuneration loan charge covering letter to self employed taxpayers – discovery 2018/19