Tax Avoidance
(asked on 10th October 2022) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the potential impact of the Loan Charge on (a) staff, (b) administration, (c) legal advice and (d) consultancy costs for businesses since the implementation of that scheme.
This question was answered on 18th October 2022
The impact of the Loan Charge on businesses was considered as part of the 22 November 2017 Tax Information and Impact Note (TIIN).
The TIIN assessed that the Loan Charge would only affect businesses engaging in avoidance schemes and would have no impact on the administrative burdens of compliant businesses undertaking normal commercial transactions.