Find out about the loan charge settlement scheme
RegCanary analysis of a HMRC publication
Why it matters
RegCanary's analysis of what this means for regulated firms.
For compliance teams, this means reviewing historical loan arrangements, particularly those involving trusts or third-party providers, to determine eligibility. The scheme offers a settlement opportunity that may reduce penalties and interest, but requires proactive engagement with HMRC. Key actions include identifying affected loans, calculating potential liabilities, and preparing documentation for settlement negotiations.
Firms should assess the impact on employee tax positions and corporate tax exposures, especially in sectors like wealth management and professional services where such schemes were common. This guidance underscores HMRC's focus on tackling tax avoidance, and non-compliance could lead to escalated enforcement actions. RegCanary recommends immediate review of loan portfolios and consultation with tax advisors to navigate the settlement process efficiently.
Who this affects
Sectors and firm types identified in the analysis.
- Wealth Management
- Professional Conduct
- Accounting
- Legal Services
- Corporate Finance
Source
HMRC
Original publication, 8 October 2026
Read the original publication gov.ukThis is RegCanary's analysis, not the regulator's text. It summarises and interprets the publication above; it is not the HMRC's original wording, and it is not legal advice. Always rely on the original source.