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Finance Act 2020 Notes: Section 15: loan charge not to apply to loans or quasi-loans made before 9 December 2010; Section 16: election for loan charge to be split over three tax years; Schedule 2: the loan charge: consequential amendments; Section 17: loan charge reduced where underlying liability disclosed but unenforceable; Section 18: relief from interest on tax payable by a person subject to the loan charge; Section 19: minor amendments relating to the loan charge; Section 20: repaying sums paid to HMRC under agreements relating to certain loans etc; Section 21: operation of the scheme

Blackwell, Michael (2020) Finance Act 2020 Notes: Section 15: loan charge not to apply to loans or quasi-loans made before 9 December 2010; Section 16: election for loan charge to be split over three tax years; Schedule 2: the loan charge: consequential amendments; Section 17: loan charge reduced where underlying liability disclosed but unenforceable; Section 18: relief from interest on tax payable by a person subject to the loan charge; Section 19: minor amendments relating to the loan charge; Section 20: repaying sums paid to HMRC under agreements relating to certain loans etc; Section 21: operation of the scheme. British Tax Review, 2020 (4). 414 - 427. ISSN 0007-1870

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Abstract

Notes amendments made by the Finance Act 2020 ss.15-21 and Sch.2 to the loan charge rules introduced to combat tax avoidance through disguised remuneration. Details the legislative background to the loan charge, the impact of cases such as R. (on the application of Cartref Care Home Ltd) v Revenue and Customs Commissioners (Admin), and whether the recommendations of the December 2019 Morse Review of the loan charge are reflected by the 2020 Act.

Item Type: Article
Official URL: https://uk.westlaw.com/WestlawUk/Journals/Publicat...
Additional Information: © 2021 Thomson Reuters
Divisions: Law
Subjects: K Law > KD England and Wales
H Social Sciences > HJ Public Finance
Date Deposited: 01 Sep 2020 11:45
Last Modified: 20 Sep 2021 02:18
URI: http://eprints.lse.ac.uk/id/eprint/106278

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