Tax Avoidance: Romford

Treasury written question – answered on 18th March 2020.

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Photo of Andrew Rosindell Andrew Rosindell Conservative, Romford

To ask the Chancellor of the Exchequer, what estimate he has made of the number of people in Romford constituency that will be affected by the 2019 Loan Charge after the Government has implemented recommendations of Sir Amyas Morse's review.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

Of the estimated 50,000 individuals affected by the Loan Charge, the Government currently estimates that about 11,000 will be taken out of the Loan Charge altogether as a result of the changes announced by the Government in December 2019. In addition, individuals who have settled or are settling their tax liability with HMRC will also be out of scope of the charge. There is not yet a firm estimate of the number who will choose to settle and so be out of scope of the Loan Charge. Information is also not currently available at constituency, borough or regional level.

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