Loan Charge

Part of Brunei – in the House of Commons at 12:57 pm on 4th April 2019.

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Photo of Neil Parish Neil Parish Chair, Environment, Food and Rural Affairs Committee 12:57 pm, 4th April 2019

I thank the hon. Gentleman for giving way, and I very much agree with him. The biggest problem is the loan charge’s retrospective nature, because the tax situation, the way in which we pay tax and the attitude towards tax have changed so much over the years. Many people entered into these loan arrangements in good faith and, of course, they were brought on by the employer, not the employee. As my hon. Friend Joseph Johnson said, a tax judge needs to look at this because it is wrong to ask people to pay massive amounts of money retrospectively.