Last week we heard the tragic news that there has been another suicide believed to be linked to the loan charge. Financial Secretary to the Treasury Lucy Frazer confirmed that HMRC has referred nine cases to the Independent Office for Police Conduct where a taxpayer has taken their own life and used a “disguised remuneration” scheme.
We have thought long and hard about including this as an article on IWORK’s website because we don’t want to be grabbing headlines from something so awful. But equally ignoring it feels wrong and disingenuous to everyone affected. People need to know that this is the horrific reality of the loan charge.
Very sadly we have long been aware that people have taken their own life due to the pressure of the Loan Charge, and that many affected currently feel similar desperation. Evidence of the devastating reality of the disastrous Loan Charge policy has been consistently submitted to HMRC, HM Treasury and various Financial Secretary’s over the years, yet it seems to fall on deaf ears.
On the off-chance that anyone from HMRC or HM Treasury is reading this, please do everything in your power to get the loan charge policy reviewed. The suffering caused is real and we should not be turning a blind eye to it. It is truly appalling and urgent action is needed.