Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Remuneration definition

What does Remuneration mean? Remuneration is the pay an individual receives for work, typically basic salary and, depending on context, variable elements such as bonuses, commission, overtime and allowances. It is a descriptive expression used across employment, company and tax law, with its precise scope set by the relevant statute, contract, policy or scheme rules rather than by a single universal legal definition. In pensions practice—particularly defined benefit schemes—the pension accrued is usually linked to pensionable remuneration (often called pensionable salary or pay). Whether remuneration includes or excludes bonuses, commission, overtime, car or location allowances, shift premia and other fluctuating emoluments is determined by the...

Self‑employed disguised remuneration (UK): rules, Conditions A–E, loan charge, FA 2020 changes and the new settlement scheme (Finance Bill 2026)

Published by a LexisNexis Tax expert

Practice notes

FORTHCOMING CHANGE:

Following the Autumn Budget 2024, the government instructed an independent examination of the loan charge, commissioning a review. Announced on 23 January 2025, its remit was to identify the barriers preventing people within the scope of the loan charge who have not already settled and paid their tax liabilities in full from reaching a final resolution with HMRC, and to outline recommendations on how they might be encouraged to settle with HMRC (see News Analysis: Autumn Budget 2024—Independent review of the loan charge). To support the review process, a call for evidence, targeted at those still subject to the loan charge (and their advisers), was issued on 28 March 2025. The Final Report of the review, together with the government response, was released at Budget 2025 on 26 November 2025. It concluded that the loan charge had failed as a mechanism to resolve the tax affairs of affected taxpayers, largely because it was not coupled with a settlement strategy that was proportionate to the extraordinary legislation enacted, and equitable when judged against the actions of promoters and the (in)action of HMRC. Consequently, the Final Report proposed a new settlement approach that, subject to conditions, would suspend part of...

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Stephen Downie

Francis Wilks & Jones

Stephen is a dual qualified solicitor and ACCA accountant, and is a partner at Francis Wilks & Jones acting for tax advisors, private clients and Insolvency Practitioners.Stephen works with FWJ’s tax disputes team dealing with Code 8 and Code 9 enquiries, direct and indirect tax investigations and tribunal proceedings; Stephen’s particular specialism in this area comprises the evolving legal position surrounding tax avoidance schemes in respect of both live and insolvent companies.Stephen’s person experience over the course of the last 20 years also extends to insolvency, restructuring and contentious insolvency claims, acting on both sides for both liquidators/administrators and defending SMEs, individuals and directors....

Web page updated on 21/05/2026

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