MPs demand a review of the loan charge

The loan charge all-party parliamentary group (APPG) has written to the chancellor asking for an independent inquiry into the loan charge and HMRC’s treatment of taxpayers. The letter comes after the news that a ninth person had taken their own life after facing demands for repayments of tax related to disguised remuneration schemes.

The APPG’s letter states: ‘We have warned successive chancellors and Treasury ministers of the serious suicide risk from the loan charge and the overall current approach of the government and HMRC to people who were mis-sold these schemes by professional advisers including chartered accountants and tax advisers. We have recently undertaken a call for evidence and are deeply concerned at how many respondents – 15% of all who responded – who have reported suicidal thoughts or intent.’

The APPG is urging the chancellor to review the loan charge and ‘to show some leadership...