Please enter both an email address and a password.

Account login

Need to reset your password?  Enter the email address which you used to register on this site (or your membership/contact number) and we'll email you a link to reset it. You must complete the process within 2hrs of receiving the link.

We've sent you an email

An email has been sent to Simply follow the link provided in the email to reset your password. If you can't find the email please check your junk or spam folder and add to your address book.

Members advised to seek independent tax advice on loan charge

10 Apr 2019

The RCS has been made aware that some members have been unexpectedly affected by the new loan charge effective 5 April 2019. 

HMRC are taking action against certain loan arrangements (‘disguised remuneration’ schemes) that were considered legal tax planning by users and disclosed on tax returns. Now however, many face potentially huge bills to pay as from 5 April 2019 any outstanding loans will be added together with their income and taxed in a single year often pushing them into the higher tax band.

We would advise members to look at past tax arrangements to ensure they are not caught by the loan charge. Those most likely to be affected will have been employed through agencies or operating through personal service companies. This retrospective legislation goes back 20 years and will impact both retired and working members who still have loans outstanding from the arrangements as of 5 April 2019.

Many agency or locum workers may have had little choice to participate in such schemes if they wanted to work and others were sold the arrangements through their accountants in mass marketed arrangements known as Employee Benefit Trusts. 

The RCS is advising members who think they are affected or have received loan charge letters to seek urgent independent tax advice with regard to their position on the loan charge and in contacting HMRC.

Information & Support:

Independent Health Professionals Association

Loan Charge Action Group



Share this page: