New FST Brings Hope To Loan Charge Victims?

With the newly elected Prime Minister Liz Truss has come some new ministerial appointments, including Andrew Griffith MP who became Financial Secretary to the Treasury yesterday (7 September 2022).

It’s possible that the appointment will bring some much-needed light to the end of the tunnel for loan charge victims as Andrew Griffith is a member of Loan Charge and Taxpayer Fairness All Party Parliamentary Group (APPG).  Being part of the APPG means that Griffith has concerns about the nature and impact of the Loan Charge, the fairness of tax legislation, and HMRC’s conduct in enforcing it.

A qualified accountant, prior to becoming an MP Griffith spent 27 years in business, most recently as chief operating officer at Sky.  His political career has included being the Prime Minister’s chief business advisor, and more recently he was parliamentary under secretary of state for the Department for International Trade.

In his new role as Financial Secretary to the Treasury, Griffith be responsible for HMRC policy and will be in the perfect position to push for justice for loan charge victims.  The disastrous policy was brought in 2019 and has resulted in lifechanging financial consequences for victims, to such an extent that very sadly nine suicides have been linked to the loan charge.  Let’s hope he uses the opportunity to bring about meaningful change and force the government to finally take notice of their impact on innocent people.

About the author

Share this post

Sign up to our Newsletter

Follow IWORK on social

Subscribe to our Podcast

Latest Articles

Don't forget to sign up to our newsletter

Subscribe to Podcast Series

Subscribe to our Podcasts through Apple Podcasts by following the links below:

All About Self Employment

Empowering Agency Workers

Sign up to our weekly updates by giving us your details below

Submit Review