2019 Loan Charge — [Mr Charles Walker in the Chair]

Part of the debate – in Westminster Hall at 2:30 pm on 20th November 2018.

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Photo of Steven Baker Steven Baker Conservative, Wycombe 2:30 pm, 20th November 2018

The Minister will have heard my hon. Friend’s point, which I endorse.

The loan charge should apply from Royal Assent onwards. In other words, it should be prospective—a case I have made many times—not retroactive or retrospective. HMRC should be more proactive in advising that such schemes are likely to end in tax charges in the future, and perhaps far into the future. More steps should be taken against promoters and introducers of such schemes. They are the ones profiting from this misery. Finally, the issue of employment status and IR35 requires action at last, to bring the uncertainty to an end.