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Tax Avoidance

Treasury written question – answered on 30th September 2019.

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Photo of Anne Main Anne Main Conservative, St Albans

To ask the Chancellor of the Exchequer, if he will suspend the 2019 Loan Charge while the review of that charge is ongoing.

Photo of Robert Halfon Robert Halfon Chair, Education Committee

To ask the Chancellor of the Exchequer, what recent progress has been made on the review of the 2019 Loan Charge.

Photo of Robert Halfon Robert Halfon Chair, Education Committee

To ask the Chancellor of the Exchequer, whether he has plans to suspend the 2019 Loan Charge for the duration of the review of that charge.

Photo of Jo Stevens Jo Stevens Labour, Cardiff Central

To ask the Chancellor of the Exchequer, whether he will announce a suspension of all Loan Charge activity whilst his Department's review is ongoing.

Photo of Neil Coyle Neil Coyle Labour, Bermondsey and Old Southwark

To ask the Chancellor of the Exchequer, if he will make it his policy to issue a moratorium 2019 Loan Charge payments for the duration of the independent review of that charge.

Photo of Jesse Norman Jesse Norman Financial Secretary to the Treasury and Paymaster General

The Government remains committed to tackling tax avoidance schemes, but it has listened to concerns about the impact of the Loan Charge on individuals. An independent review is under way to consider the appropriateness of the Loan Charge as a policy response, and its impact on individuals.

The reviewer, Sir Amyas Morse, has been asked to provide recommendations by mid-November so that any individuals affected can have certainty about their next steps in advance of the 31 January 2020 Self - Assessment deadline.

While the Review is under way, it is right that the Loan Charge remains in force, in line with current legislation.

HMRC has made clear it will consider all personal circumstances to agree a manageable and sustainable payment plan wherever possible and there is no maximum limit on how long a customer can be given to pay the charge.

Further information about the Review and guidance for affected taxpayers is available at www.gov.uk/government/publications/disguised-remuneration-independent-loan-charge-review.

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