[UK] Independent Loan Charge Review to Report to new Government

In September 2019, Chancellor of the Exchequer, Sajid Javid commissioned an independent review of the Disguised Remuneration Loan Charge.  The independent review is being led by Sir Amyas Morse, former Chief Executive and Comptroller and Auditor General of the National Audit Office. The review is focused on the impact of the Loan Charge on individuals who have directly entered into disguised remuneration schemes in line with the published terms of reference.

 The review period was open until the 20^th of September 2019 and should have concluded mid-November (as per the terms of reference).  By this time, a report and independent recommendations should have been made to the Financial Secretary to the Treasury and Chancellor. 

On the 5^th of November 2019, Financial Secretary to the Treasury Jesse Norman wrote to Sir Amyas advising that the report should be submitted to the new government when it is formed mid-December 2019.  The reason given is that Cabinet Office guidance on the pre-election period is clear about decisions that can be made in this time.  

In short, whilst the original deadline could have stood, nothing would have been done with the report anyway until a new government is in place.

In September 2019, Chancellor of the Exchequer, Sajid Javid commissioned an independent review of the Disguised Remuneration Loan Charge.  The independent review is being led by Sir Amyas Morse, former Chief Executive and Comptroller and Auditor General of the National Audit Office. The review is focused on the impact of the Loan Charge on individuals who have directly entered into disguised remuneration schemes in line with the published terms of reference.

 The review period was open until the 20^th of September 2019 and should have concluded mid-November (as per the terms of reference).  By this time, a report and independent recommendations should have been made to the Financial Secretary to the Treasury and Chancellor. 

On the 5^th of November 2019, Financial Secretary to the Treasury Jesse Norman wrote to Sir Amyas advising that the report should be submitted to the new government when it is formed mid-December 2019.  The reason given is that Cabinet Office guidance on the pre-election period is clear about decisions that can be made in this time.  

In short, whilst the original deadline could have stood, nothing would have been done with the report anyway until a new government is in place.