The Employment and Trading Income etc. (Loan Charge Settlement Scheme) Regulations 2026
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Change 1
11 Settlement offers: calculation of settlement amounts (alternative method: corporate employers)
(1) Where a settlement offer is made to a corporate employer under regulation 9(3), the settlement amount is calculated in accordance with the following method. Step 1 For each tax year, identify each employee (the “relevant employee”) who— is a party to a relevant arrangement or where that arrangement otherwise (wholly or partly) covers or relates to them, and in respect of whom P is liable to pay relevant loan charge amounts in connection with the use of that arrangement. Step 2 For each relevant employee, determine the amounts included in steps 1 and 3 of the primary method for each tax year in relation to the relevant arrangement (interpreting those steps as if they refer to that employee). Step 3 Add together the amounts determined by step 2 to produce an amount for each tax year (the “employer year amount”). Step 4 Divide the employer year amount by the total amount that would be attributable to each tax year in respect of the relevant employee under steps 1 and 3 of the primary method, to produce a percentage for each tax year (the “first percentage”). Step 5 For each tax year, apply the first percentage to the starting amount that would be produced by step 5 of the primary method in respect of the relevant employee to produce an amount for each year (the “starting portion”). Step 6 Add together the starting portion for each tax year to produce an amount (the “employer total amount”). Step 7 Divide the employer total amount by the total that would be produced by step 7 of the primary method in respect of the relevant employee, to produce a percentage (the “second percentage”). Step 8 Apply the second percentage to the settlement amount that would be produced by step 10 or 11 of the primary method in respect of the relevant employee (whichever applies to them), to produce an amount (the “employer’s portion”). Step 9 The employer’s portion is P’s settlement amount if at step 1 only one relevant employee is identified. Step 10 If more than one employee is identified at step 1, add together the employer’s portion in respect of each relevant employee to produce P’s settlement amount. (2) In this regulation— “the primary method” means the method of calculation in regulation 10(1); “relevant arrangement” has the same meaning as it has in section 554A(1) of ITEPA 2003.
11 Settlement offers: calculation of settlement amounts (alternative method: corporate employers)
(1) Where a settlement offer is made to a corporate employer under regulation 9(3), the settlement amount is calculated in accordance with the following method. Step 1 For each tax year, identify each employee (the “relevant employee”) who— is a party to a relevant arrangement or where that arrangement otherwise (wholly or partly) covers or relates to them, and in respect of whom P is liable to pay relevant loan charge amounts in connection with the use of that arrangement. Step 2 For each relevant employee, determine the amounts included in steps 1 and 3 of the primary method for each tax year in relation to the relevant arrangement (interpreting those steps as if they refer to that employee). Step 3 Add together the amounts determined by step 2 to produce an amount for each tax year (the “employer year amount”). Step 4 Divide the employer year amount by the total amount that would be attributable to each tax year in respect of the relevant employee under steps 1 and 3 of the primary method, to produce a percentage for each tax year (the “first percentage”). Step 5 For each tax year, apply the first percentage to the starting amount that would be produced by step 5 of the primary method in respect of the relevant employee to produce an amount for each year (the “starting portion”). Step 6 Add together the starting portion for each tax year to produce an amount (the “employer total amount”). Step 7 Divide the employer total amount by the total that would be produced by step 7 of the primary method in respect of the relevant employee, to produce a percentage (the “second percentage”). Step 8 Apply the second percentage to the settlement amount that would be produced by step 10 or 11 of the primary method in respect of the relevant employee (whichever applies to them), to produce an amount (the “employer’s portion”). Step 9 The employer’s portion is P’s settlement amount if at step 1 only one relevant employee is identified. Step 10 If more than one employee is identified at step 1, add together the employer’s portion in respect of each relevant employee to produce P’s settlement amount. (2) In this regulation— “the primary method” means the method of calculation in regulation 10(1); “relevant arrangement” has the same meaning as it has in section 554A(1) of ITEPA 2003.
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