Speech in Commons Chamber - Tue 01 Dec 2020
Oral Answers to Questions
" How many and what proportion of people who have had settlement discussions with HMRC on the loan charge have reached a settlement. ..."Gareth Bacon - View Speech
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Speech in Commons Chamber - Tue 01 Dec 2020
Oral Answers to Questions
"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 …..."Gareth Bacon - View Speech
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Speech in Commons Chamber - Tue 20 Oct 2020
Black History Month
"As has become traditional in opening, I congratulate the hon. Member for Erith and Thamesmead (Abena Oppong-Asare) and those who sponsored her application on securing today’s debate. As a member of the Backbench Business Committee, I commend her on the way in which she put her application together and pitched …..."Gareth Bacon - View Speech
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Speech in Commons Chamber - Wed 08 Jul 2020
Economic Update
"My right hon. Friend’s support for business and workers has safeguarded the livelihoods of thousands of my constituents in Orpington. Now more than ever, it is vital that we stick to sound economic principles to help our nation’s recovery. Will my right hon. Friend therefore reject the Leader of the …..."Gareth Bacon - View Speech
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Speech in Commons Chamber - Tue 07 Jul 2020
Oral Answers to Questions
" What fiscal steps he is taking to support local authorities during the covid-19 outbreak. ..."Gareth Bacon - View Speech
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Speech in Commons Chamber - Tue 07 Jul 2020
Oral Answers to Questions
"Fears have been expressed that the Government will fully bail out financially poorly managed local authorities, while better managed local authorities, such as the London Borough of Bromley, may have to meet covid-19 shortfalls through their reserves. Will my right hon. Friend offer reassurances on that point? If covid-19 funding …..."Gareth Bacon - View Speech
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Written Question
Tuesday 5th May 2020
Asked by:
Gareth Bacon (Conservative - Orpington)
Question
to the HM Treasury:
To ask the Chancellor of the Exchequer, if his Department will make an assessment of the potential merits of reviewing HMRC’s agreement with debtors that monies already paid cannot be reclaimed, in the event that the Loan Charge is suspended or revoked.
Answered by Jesse Norman
- Shadow Leader of the House of Commons
The Government accepted all but one of the 20 recommendations made by Sir Amyas Morse in December 2019 following his Independent Review of the Loan Charge policy.
The Independent Review assessed the impact of the policy on affected taxpayers and found that it was right for the Government to try to ensure that the tax was collected and that the Loan Charge should remain in force.
There was no recommendation to suspend or revoke the policy and the Government agrees it should remain in force.
The Government has included legislation required to implement the recommendations in the Finance Bill.
Implementing these recommendations is estimated to benefit more than 30,000 people subject to the Loan Charge, including about 11,000 people who will be taken out of paying it altogether.
Written Question
Tuesday 5th May 2020
Asked by:
Gareth Bacon (Conservative - Orpington)
Question
to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the compatibility of the 2019 Loan Charge with the Rees rules on tax retrospectivity.
Answered by Jesse Norman
- Shadow Leader of the House of Commons
Sir Amyas Morse conducted an independent review of the Loan Charge. His report was published in December 2019 and the Government welcomed his finding that the Loan Charge was a justified policy to draw a line under use of disguised remuneration tax avoidance.
The Government accepted all but one of the Review’s 20 recommendations. This included a recommendation that the Loan Charge should only apply to disguised remuneration loans which were entered into after 9 December 2010, the date from which Sir Amyas considered that the law as to the tax treatment of loan schemes was clear.
The 2019 Loan Charge is not retrospective. It is a new charge on disguised remuneration loan balances outstanding at 5 April 2019 and was announced three years before the legislation took effect.
The Rees Rules have no bearing on the Loan Charge.
Speech in Commons Chamber - Tue 25 Feb 2020
Tax Avoidance and Evasion
"There have been some very thoughtful speeches on both sides of the House today, but I must open by particularly commending the excellent maiden speeches from my hon. Friends the Members for West Bromwich East (Nicola Richards) and for Stourbridge (Suzanne Webb).
The central contention of the Opposition motion is …..."Gareth Bacon - View Speech
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