HMRC announced that it has extended the availability of its contractor loan settlement opportunity which was due to end on 9 January 2015. Taxpayers now have until 30 June 2015 to notify HMRC that they wish to take part.

This particular opportunity covers the years to 5 April 2011 and specifically schemes used before the Disguised Remuneration rules were introduced. Having notified HMRC of an intention to use the opportunity by 30 June, taxpayers must then make an agreement to settle the arrears by 30 September 2015.