Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will (a) suspend and (b) undertake a review of the 2019 Loan Charge.

This question was answered on 9th September 2019
Our sympathies are with the family and friends of anyone who has taken their own life.

The Government has recognised the need to support those affected by the disguised remuneration loan charge and has put extra resources in place. In particular, HM Revenue and Customs (HMRC) have opened a disguised remuneration helpline so people affected by the loan charge can discuss their affairs with a specialist team. The team can also offer additional support where needed and direct people to organisations including Samaritans and Mind.

The Government published a tax information and impact note (TIIN) for this policy, in common with all new tax legislation. This provided a clear explanation of the policy objective together with details of the effect on the Exchequer, the economy, individuals, businesses, civil society organisations, as well as any equality or other specific area of impact.

The Prime Minister on 4 September 2019 announced that the Government will undertake a thorough review of the loan charge, and the Government will set out further details shortly.