Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what his most recent estimate is of the number of people subject to Loan Charge repayments who have been made bankrupt.

No estimate can be provided for the number of people who have fallen into debt, or who have been declared bankrupt, and are subject to the loan charge.

Where debts arise, HMRC are not always the only creditor. Some individuals may fall into debt or are declared bankrupt as a result of a non-HMRC debt and some individuals may choose to enter insolvency themselves based on their overall financial position.

HMRC only ever consider insolvency as a last resort and they encourage taxpayers to get in contact to agree the best way to settle their tax debts. Anyone who is worried about being able to pay what they owe is encouraged to get in touch with HMRC as soon as possible on 0300 322 9494. Where a taxpayer is unable to pay their debt in full HMRC will work with them to agree an instalment arrangement based on their individual financial circumstances, and there is no maximum length.