Tax Avoidance

Treasury written question – answered on 4th December 2020.

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Photo of Layla Moran Layla Moran Liberal Democrat Spokesperson (International Development), Liberal Democrat Spokesperson (Foreign and Commonwealth Affairs)

To ask the Chancellor of the Exchequer, how many people have been affected by mis-selling schemes which are now subject to the Loan Charge in (a) Oxford West and Abingdon constituency and (b) the UK.

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

While the Government empathises with anyone who believes they were misled into using a disguised remuneration (DR) scheme, it is an individual’s responsibility to ensure the accuracy of their tax return and to understand the consequences of their decisions. It remains right that the Government takes action to tackle tax avoidance which is unfair to the vast majority of taxpayers who pay the correct tax.

The Government estimates that about 50,000 individuals are affected by the Loan Charge. The number who may feel they have been affected by mis-selling is not available.

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