The Government published a report into disguised remuneration schemes which considered the range of evidence available and can be found online at: www.gov.uk/government/publications/report-on-time-limits-and-the-disguised-remuneration-loan-charge. The Government would encourage anyone who is affected by the charge to contact HM Revenue and Customs (HMRC) and discuss their situation.
HMRC have not made anybody bankrupt as a result of the 2019 Loan Charge. The information requested on how many people have declared themselves bankrupt as a result of the 2019 Loan Charge is not available.
HMRC will work with individuals to reach sustainable and manageable payment plans wherever possible. Anybody who is worried about being able to pay what they owe should get in touch with HMRC.
The Government estimates that up to 50,000 individuals will be affected by the 2019 loan charge. Since the DR loan charge was announced, HMRC have already agreed around 6,000 settlements with employers and individuals, worth over £1 billion.
Information on the number of people affected by the 2019 Loan Charge is not held at constituency, borough or regional level. Since November 2017, HMRC have been writing directly to individuals and employers who may be affected by the Disguised Remuneration (DR) loan charge. A breakdown of recipients by UK parliamentary constituency is available on gov.uk at: www.gov.uk/government/publications/disguised-remuneration-loan-charge-awareness-letters.