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 finally resolve the ‘Loan Charge Scandal’ and end the nightmare for thousands of UK families.
The group 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, have published the proposal online and are inviting fellow professionals – accountants, tax advisers, tax lawyers and sector commentators – to add their name to push the Government to listen and act.
In essence, the proposal is a settlement opportunity for those facing the Loan Charge paying a genuinely affordable proportion of the tax that HMRC believes is owed. The proportion would also reflect the fact that people were victims of mis-selling and also the unfairness of pursuing individual taxpayers rather than the promoters and advisers who recommended schemes, who profited significantly from duping their victims.
It is clear that action is needed to make the government see sense that there is no point hounding people for money that they simply don’t have. If you are an advisor reading this, please add your name to the list and let’s finally end the suffering.
