Loan Charge Causes "Widespread Anxiety and Distrust"

John Mann, Treasury sub-committee chair, speaking about the loan charge said:

“Setting aside the policy, HMRC’s administrative approach to the payment of large unexpected tax bills has been sensible. The delay, however, in clarifying payment terms for those wanting to settle their past use of such schemes has caused widespread anxiety and distrust.”

An HMRC spokesman said:

“We know that some people are facing large tax bills, often as a result of using tax-avoiding loan schemes over a number of years, so we have responded by providing affordable payment arrangements and enhanced practical support.”

In other words HMRC will not change their approach, until parliament steps in and eliminates the retrospective element of this issue.

Tax does have to be taxing.

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