Tax Avoidance

Treasury written question – answered on 3rd July 2018.

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Photo of Peter Aldous Peter Aldous Conservative, Waveney

What assessment his Department has made of the effect of the 2019 Loan Charge on people affected by that charge.

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

This government is committed to tackling tax avoidance and evasion to ensure that everyone pays the right amount of tax at the right time.

Disguised Remuneration schemes are an aggressive form of tax avoidance costing the exchequer hundreds of millions of pounds each year.

People who use these schemes receive income in the form of a loan, which they claim is not taxable. However, the loan is, in fact, never repaid. This is wrong and is unfair on those who pay their fair share.

The Disguised Remuneration loan charge will apply so the tax due from these schemes is paid.

HMRC have published an impact assessment and are able to help those who are in genuine financial difficulty, for example, by arranging for more time to pay or for payment by instalments.

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