Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he has taken to assess the financial effect of the 2019 loan charge on people facing repayment costs during the covid-19 outbreak.

Taxpayers who are liable to pay the Loan Charge have until 30 September 2020 to submit their Self-Assessment return for 2018-19 including details of their Loan Charge liability.

HMRC have made a clear commitment to support all taxpayers who need help to manage their disguised remuneration (DR) liabilities, including those affected by COVID-19. This includes those due to pay the Loan Charge as well as those settling their DR affairs with HMRC. Taxpayers do not have to pay everything in one go. Where a taxpayer cannot pay in full on time, HMRC will seek to agree a payment by instalments with them. The payment plan agreed will be based on what they can afford and there is no upper limit on how long HMRC can potentially spread payments.

HMRC have set up a helpline to support any businesses and self-employed taxpayers concerned about paying their tax, due to COVID-19.