Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he has taken in Q4 2020 against promoters and operators of schemes that are now subject to the Loan Charge.

The Government and HM Revenue and Customs (HMRC) are determined to continue to tackle promoters and operators of tax avoidance schemes. This includes challenging the entities and individuals who promote disguised remuneration loan schemes.

On 19 March 2020, HMRC published their strategy for tackling promoters of tax avoidance schemes. The strategy sets out HMRC’s work to date and outlines how HMRC will continue to take robust actions against promoters of tax avoidance. The Promoter Strategy is available on GOV.UK. HMRC consulted on a package of measures to tackle promoters of tax avoidance schemes over Summer 2020. On 12 November 2020, the Government announced further proposals to tackle promoters, on which it will consult in Spring.

On 26 November 2020 HMRC and the Advertising Standards Authority issued a joint Notice, setting out what promoters must and must not include on their websites to ensure their advertising is not misleading.