Tax Avoidance
(asked on 8th December 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to update to the List of named tax avoidance schemes, promoters, enables and suppliers of 1 December 2023, what recent assessment he has made of the potential impact of changes to the loan charge that came into effect on 5 April 2019 on the financial wellbeing of freelancers.
This question was answered on 15th December 2023
The Loan Charge was independently reviewed by Lord Morse, who considered the impacts of the policy on individuals. The Government accepted 19 of his 20 recommendations. These changes, such as removing loans made before 9 December 2010 from the scope of the Loan Charge, reduced the impact of the policy and removed aspects which were of wider concern.
The Loan Charge was independently reviewed by Lord Morse, who considered the impacts of the policy on individuals. The Government accepted 19 of his 20 recommendations. These changes, such as removing loans made before 9 December 2010 from the scope of the Loan Charge, reduced the impact of the policy and removed aspects which were of wider concern.
HMRC puts support for those affected at the core of its work to collect the Loan Charge and bring cases to settlement.
HMRC can agree an affordable and sustainable instalment plan based on taxpayers’ specific circumstances and for as long as they need. HMRC can also refer taxpayers for free debt advice that is independent from HMRC.