Professionals urged to sign loan charge resolution proposal

Professionals from across the tax sector are being urged to sign the loan charge resolution proposal which has been produced and published by a group of independent professionals to resolve the loan charge issue.

The professionals comprised of tax lawyers tax advisers and accountants led by Sarah Gabbai of McDermott Will and Emery and tax barrister Keith Gordon of Temple Tax Chambers  published the proposal online in December 2021 and are renewing their call for fellow professionals – accountants tax advisers tax lawyers and sector commentators – to add their name to push the government to listen and act.

The practical aim of the proposal is to alleviate undue financial hardship for affected taxpayers by persuading HMRC to agree to an affordable amount in full and final settlement of their outstanding tax liabilities as a consequence of...