Topical Questions

Part of Oral Answers to Questions — Treasury – in the House of Commons on 29th January 2019.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

As the hon. Lady may know, the way the loan charge works is that those who have been involved in this form of tax avoidance have until April to settle their affairs, in which case no penalty will be applied at all. We have also said that those earning £50,000 or less will automatically qualify for a five-year minimum repayment term. My message, as always in these circumstances, is that those who are involved in these schemes should come forward, speak to HMRC and sensibly sort out their arrangements.