An estimate of the cost of amending the loan charge to remove loans made before 2017 is not available. The loan charge was legislated in the Finance (No.2) Act 2017 and is part of a package which was estimated to yield £3.2 billion over five years.
HMRC have written directly to scheme users identified through their compliance work, IT records and tax return data. This includes individual scheme users, employers and company directors.
In addition, HMRC have actively encouraged DR scheme users to come forward through their regular contact with taxpayers, and seek to increase awareness through their series of Spotlight publications, social media activity, and webinars.
HMRC are not aware of any individuals affected whom they have not yet contacted.