⚠️ We are currently updating our 2021/22 tax guidance across the website


Loan charge reporting form

Updated on 26 September 2020


For those affected by the loan charge, 30 September 2020 is the date by which they must report the loan amounts if they have not done so already via the on-line loan charge reporting form. A paper version of the form for those that cannot access the online version is available to download here.

Image of a clipboard with a loan reporting form attached and a pen next to it
(c) Shutterstock / Jane Kelly

This form needs to be completed and submitted to HMRC by 30 September 2020, otherwise penalties may be levied. This is particularly important if you want to make the irrevocable spreading election, as this form is the method by which you legally do that.

⚠️ Note: spreading is not necessarily beneficial for everyone – we look at some of the considerations here.

If you do not want to spread your loan balance, you must still complete the form if you haven’t already reported your loan amounts. Those who have previously completed the loan charge reporting form do not need to amend it even though their loan charge liability may have now changed, unless they want to make the spreading election.

If you need help in understanding how to answer the rest of the questions on the form, please see our previous news item, Loan charge – additional information form FAQs (please note this was written before the form/the deadline were altered, following the outcome of the Morse review).

Given we are so close to the 30 September 2020 deadline, we suggest that you print a copy, complete it by hand, scan it and attach it to an email. This should be sent to HMRC at ca.loancharge@hmrc.gov.uk. If you don’t have a scanner, but you do have a smartphone, you could take a photo of the completed form on your phone and attach that to an email. We also understand that HMRC may accept an emailed copy of the Word document completed with a typed signature.

If you want to send the form in by post, then this should be sent to:

Counter Avoidance,

Given how close we are to the deadline, and the fact that there may be delays with HMRC processing post at the moment due to the coronavirus (CV19) situation, we do not recommend this. However, if you wish to do so anyway, it is vital that you send the form in by special delivery or something similar to ensure it arrives by 30 September 2020.

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