Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what proportion of people subject to the loan charge have had their settlement offers accepted.

HMRC are currently compiling, analysing and assuring the relevant settlement data.

At the time of the independent review of the Loan Charge, about 12,000 employers and individuals still had the opportunity to keep clear of the Loan Charge by concluding settlement, having provided all the relevant information to HMRC by 5 April 2019. Early indications are that as at 2 October about 60% of these have either settled, informed HMRC that they had instead decided to report and pay the Loan Charge, or have been taken out of scope of the Loan Charge following the Government’s changes in response to the independent review.

HMRC are continuing settlement discussions with a relatively small number of taxpayers who were prevented from meeting the 30 September deadline by circumstances beyond their control.