Parliamentarians call for a resolution to the ‘loan charge scandal’

More than 100 MPs have signed an open letter to the prime minister and chancellor urging a resolution to ‘the loan charge scandal’.

The letter states: ‘If the government does not act to instruct HMRC to change course we are fearful of what the consequences will be as thousands of people simply cannot pay the huge sums being demanded.’ It refers to the survey conducted by the loan charge and taxpayer fairness all-party parliamentary group (APPG) in spring 2021 that showed that there is a real risk of more suicides as well as many families facing hardship as a result of the loan charge and associated HMRC activity.

The missive points out that a resolution is in everyone’s interests and also refers to the central injustice - that those who have been mis-sold schemes are being hit with huge bills while those who recommended...