Tax Avoidance

(asked on 21st April 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many people are subject to the Loan Charge as at 21 April 2021.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 29th April 2021

HMRC’s latest estimates of those affected by the Loan Charge are included in their GOV.UK publication titled Independent Loan Charge review: HMRC report on implementation.

As set out in this report, in January 2020, HMRC wrote to more than 55,000 individuals and employers who were identified as potentially affected by the Loan Charge. HMRC estimate the changes to the Loan Charge enacted in Finance Act 2020 took 11,000 people out of paying the charge altogether.

The report goes on to state that 5,600 employers and individuals settled their use of disguised remuneration schemes in the period to 30 September 2020.

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