Glyn Fullelove, editor-in-chief of Croner-i Tax Weekly, says the focus on removing the barriers to resolving outstanding tax liabilities is the right one in the McCann review, but warns the loan charge is a disproportionate tool
I was pleased to see the announcement by HM Treasury on 23 January of the terms of reference of the latest review of the 2017 Loan Charge legislation and its effects. Tax Weekly’s special issue in October 2022 covered the question of disguised remuneration and the Loan Charge in depth, and at the time we called for a further look at the ongoing impact. The latest review will be led by Ray McCann, a former president of the Chartered Institute of Taxation (CIOT) and I cannot think of a better person for this role.
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