PARLIAMENTARY WRITTEN QUESTION
Tax Avoidance (19 October 2020)
Question Asked
To ask the Chancellor of the Exchequer, if he will offer a settlement opportunity for people affected by loan charges.
Asked by:
Fleur Anderson (Labour)
Asked by:
Fleur Anderson (Labour)
Answer
In 2017 HMRC offered settlement terms to taxpayers who used disguised remuneration (DR) tax avoidance schemes and who may have been liable to pay the Loan Charge unless they chose to settle with HMRC.
Taxpayers who provided the necessary information to HMRC by 5 April 2019 and worked with HMRC to conclude settlement by 30 September 2020 were able to settle under these 2017 terms, enabling them to keep clear of the Loan Charge.
Later this year, HMRC will publish settlement terms for taxpayers who pay the Loan Charge and still have remaining liabilities, arising from HMRC enquiries into their DR scheme use, which have yet to be resolved.
Answered by:
Jesse Norman (Conservative)
22 October 2020
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