HMRC is working to deliver a new settlement opportunity quickly, enabling individuals with Loan Charge liabilities to finalise them and move forward, the government confirmed, with the first offer letters from the tax authority due to go out in the new year.

Legislation will be introduced immediately in the Finance Bill, and ‘HMRC will begin contacting eligible customers from January 2026’.

A government spokesperson told Business & Accountancy Daily: ‘The government is accepting the vast majority of recommendations from the independent review, and going further in some areas.

‘A new settlement opportunity will help those with outstanding liabilities resolve their affairs with HMRC.’

The McCann review was published at the Budget earlier this week, and followed an extensive investigation into the payment problems with the loan charge, and detailed evidence about the sale of the disguised remuneration packages by promotors, as well as the breakdown in communications between HMRC and taxpayers who owed the loan charge.

The government launched the review, led by Ray McCann, to ‘help bring this matter to a close for those affected whilst ensuring fairness to all taxpayers’.

Anyone wishing to discuss settlement does not need to wait for HMRC to make contact - they can reach out to their named caseworker for support, the Treasury stressed.

The government said it ‘hopes this review offers a clear path to resolution, allowing those affected to finally put this matter behind them’.

Treasury confirms loan charge settlement will cost £365m | 27 Nov 2025

McCann loan charge review calls for HMRC to offer settlement opportunity | 26 Nov 2025