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PARLIAMENTARY DEBATE
Loan Charge: HMRC Settlement - 1 December 2020 (Commons/Commons Chamber)

Debate Detail

Contributions from Gareth Bacon, are highlighted with a yellow border.
Con
Gareth Bacon
Orpington
How many and what proportion of people who have had settlement discussions with HMRC on the loan charge have reached a settlement.
Jesse Norman
The Financial Secretary to the Treasury
About 11,000 employers and individuals settled their use of disguised remuneration schemes between Budget 2016 and 31 March 2020. As I indicated earlier, HMRC is currently preparing a report to Parliament on the implementation of the recommendations of the independent loan charge review, and that is due imminently. The report will include figures up to the 30 September 2020 deadline for taxpayers who settled their use of disguised remuneration tax avoidance schemes.
Gareth Bacon
I thank my right hon. Friend for his answer. In circumstances where process failings, errors and delays on the part of HMRC effectively denied people the possibility of settling their claims by 30 September, will he commit to offering an extended settlement period to allow individuals the chance to settle their debts?
Jesse Norman
As my hon. Friend will know, the settlement date has already been extended by eight months. That was a very important recognition of the impact of covid and has given individuals the chance to settle their schemes. He should also be aware that we do not merely seek to support those who are settling; we are also taking robust action against promoters and other enablers of tax avoidance schemes.

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