UK Begins Review Of Criticized Anti-Avoidance Loan Tax
By Joseph Boris (September 11, 2019, 8:59 PM EDT) -- The U.K. launched an independent review Wednesday of a tax penalty on employers who disguise workers' pay to avoid income tax and national insurance contributions, a penalty that critics say unduly favors the nation's tax authority.
In an official notice, HM Treasury said Amyas Morse, a former head of Britain's National Audit Office, will lead the review of the penalty, known as a loan charge. The review, commissioned by Chancellor of the Exchequer Sajid Javid, will consider whether the charge is "an appropriate way" of dealing with disguised remuneration loan schemes used by individuals who entered directly into such arrangements to...
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