Advisors Urged To Submit Loan Charge Evidence

MPs request evidence from advisors who represent loan charge victims to give an overview of their clients’ situation and experiences of dealing with HMRC.  Their insights will build on the harrowing evidence already gathered from those directly affected by the disastrous policy, so that HMRC and Treasury cannot continue to ignore the situation.

The previous call for evidence has revealed a deeply worrying reality with many facing bankruptcy, relationship and mental breakdown and 15% of people reporting suicidal thoughts or intent.

Commenting, Sammy Wilson MP, Co-Chair of the Loan Charge APPG (DUP) said:

“The evidence sent to us so far from individuals is compelling and also harrowing, with a shocking number of people reporting serious problems including marital breakdown, mental health issues and with a very worrying 15% of people saying they have had suicidal thoughts or actual intent”.

“We now wish to hear from advisers, many of whom work extremely hard doing all they can to support clients, often in the face of communication issues with HMRC. So we believe their insight will also be very valuable in demonstrating the reality of the situation, something that is alas ignored and denied by HMRC and the Treasury”.

Greg Smith MP, Co-Chair of the Loan Charge and Taxpayer Fairness APPG (Conservative):

“The Loan Charge and Taxpayer Fairness APPG remains deeply concerned about the impact of the Loan Charge and tens of thousands of individuals and their families.

“It is clear from the evidence received so far that the situation is very serious and that without change from the Treasury and HMRC, there will be devastating consequences. We now wish to hear from advisers about the situation they face dealing with HMRC and supporting clients and we hope this will further add to the picture, which is becoming increasingly difficult for Ministers to continue to ignore”.

Baroness Susan Kramer, Vice-Chair of the Loan Charge and Taxpayer Fairness APPG (Liberal Democrat):

“Throughout the Loan Charge Scandal, HMRC and the Treasury have failed to give straight answers to questions and have brushed the reality of the Loan Charge under the carpet. With it being so hard to get any accurate information, the Loan Charge and Taxpayer APPG will continue to do all we can to get concrete evidence that shows the reality, as opposed to the propaganda, of this dangerous policy, one that has already cost lives”

Advisors who have clients affected by the loan charge should complete a submission using the PDF form for advisors on the APPG website.

The deadline for submissions is Friday 15th July 2022.

 

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