The Employment and Trading Income etc. (Loan Charge Settlement Scheme) Regulations 2026
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Change 1
12 Settlement offers: conditions
(1) The Commissioners may make it a condition of a settlement offer that— (a) P agrees to pay additional qualifying amounts, on such terms as the Commissioners may propose; (b) P agrees to the withdrawal, on such terms as the Commissioners may propose, of any proceedings brought in any court or tribunal relating to relevant amounts or to additional qualifying amounts which are the subject of the offer, where those proceedings have not been finally determined; (c) P agrees to forbear from commencing or making a claim in any proceedings against HMRC in a court or tribunal in respect of relevant amounts or additional qualifying amounts which are the subject of the offer; (d) P agrees to forgo any claim for a repayment of tax or relevant national insurance contributions; (e) where the amount P is required to pay by the offer (including any additional qualifying amount) is nil, P executes the settlement agreement as a deed; (f) P agrees that a contract settlement entered into before the date of the settlement offer which relates to relevant loan charge amounts— (i) is discharged, (ii) the proposed settlement agreement is substituted for that contract settlement, and (iii) the agreement provides instead for the discharge of every relevant loan charge amount; (g) where (prior to the day that P enters into a settlement agreement) P has entered into an agreement with the Commissioners to make payments towards liabilities to HMRC which include loan charge amounts, P agrees to the re-allocation of such payments to liabilities other than loan charge amounts. (2) In paragraph (1)(a), “additional qualifying amounts” are amounts specified in paragraph (3) which are payable, or become payable in the future, to HMRC and have not yet been paid. (3) The amounts referred to in paragraph (2) are— (a) amounts under paragraph 1 of Schedule 24 to FA 2007, where the inaccuracy is deliberate and concealed (within the meaning of paragraph 3(1)(c) of that Schedule) and relates to a Schedule 11 or 12 to a F(No. 2)A 2017 loan or quasi-loan; (b) amounts under an enactment— (i) that are not loan charge amounts, and (ii) which satisfy the timing condition. (4) The timing condition in paragraph (3) is that— (a) the amounts arose and were assessed by HMRC on or before 26th November 2025, or (b) an officer of Revenue and Customs opened an enquiry into a return under section 9A or 12AC of TMA 1970 or paragraph 24 of Schedule 18 to the Finance Act 1998 in respect of those amounts on or before that day. (5) In paragraph (1)(b),the Commissioners may not make it a condition that P pays the Commissioners’ legal costs in any proceedings commenced by the Commissioners against P (but they may in respect of any appeal or other application brought by the Commissioners in any proceedings commenced by P). (6) In paragraph (1)(d), “relevant national insurance contributions” means any class of contribution listed in section 1(2) of SSCBA 1992 or section 1(2) of SSCB(NI)A 1992.
12 Settlement offers: conditions
(1) The Commissioners may make it a condition of a settlement offer that— (a) P agrees to pay additional qualifying amounts, on such terms as the Commissioners may propose; (b) P agrees to the withdrawal, on such terms as the Commissioners may propose, of any proceedings brought in any court or tribunal relating to relevant amounts or to additional qualifying amounts which are the subject of the offer, where those proceedings have not been finally determined; (c) P agrees to forbear from commencing or making a claim in any proceedings against HMRC in a court or tribunal in respect of relevant amounts or additional qualifying amounts which are the subject of the offer; (d) P agrees to forgo any claim for a repayment of tax or relevant national insurance contributions; (e) where the amount P is required to pay by the offer (including any additional qualifying amount) is nil, P executes the settlement agreement as a deed; (f) P agrees that a contract settlement entered into before the date of the settlement offer which relates to relevant loan charge amounts— (i) is discharged, (ii) the proposed settlement agreement is substituted for that contract settlement, and (iii) the agreement provides instead for the discharge of every relevant loan charge amount; (g) where (prior to the day that P enters into a settlement agreement) P has entered into an agreement with the Commissioners to make payments towards liabilities to HMRC which include loan charge amounts, P agrees to the re-allocation of such payments to liabilities other than loan charge amounts. (2) In paragraph (1)(a), “additional qualifying amounts” are amounts specified in paragraph (3) which are payable, or become payable in the future, to HMRC and have not yet been paid. (3) The amounts referred to in paragraph (2) are— (a) amounts under paragraph 1 of Schedule 24 to FA 2007, where the inaccuracy is deliberate and concealed (within the meaning of paragraph 3(1)(c) of that Schedule) and relates to a Schedule 11 or 12 to a F(No. 2)A 2017 loan or quasi-loan; (b) amounts under an enactment— (i) that are not loan charge amounts, and (ii) which satisfy the timing condition. (4) The timing condition in paragraph (3) is that— (a) the amounts arose and were assessed by HMRC on or before 26th November 2025, or (b) an officer of Revenue and Customs opened an enquiry into a return under section 9A or 12AC of TMA 1970 or paragraph 24 of Schedule 18 to the Finance Act 1998 in respect of those amounts on or before that day. (5) In paragraph (1)(b),the Commissioners may not make it a condition that P pays the Commissioners’ legal costs in any proceedings commenced by the Commissioners against P (but they may in respect of any appeal or other application brought by the Commissioners in any proceedings commenced by P). (6) In paragraph (1)(d), “relevant national insurance contributions” means any class of contribution listed in section 1(2) of SSCBA 1992 or section 1(2) of SSCB(NI)A 1992.
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