In the Budget, the Treasury confirmed that the new review would ‘help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers’.

Further details about the review will be set out ‘in due course’ by the Exchequer secretary at the Treasury, James Murray, who is responsible for tax compliance and HMRC.

In the announcement, the government stated: ‘HMRC will consider what updates need to be made to relevant guidance once the government announces further details about the review and once the review has concluded.

‘The loan charge legislation remains in force. If you have agreed a payment plan with HMRC you should continue to pay the amounts you have agreed to pay while the review is ongoing.’

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