Today we’re talking to a victim of the loan charge, and it is essential to get this heard by as many people as possible so that others do not have to suffer the same awful experience. There are a lot of misunderstandings about the people who fall victim to the loan charge, with some suggestion that it is the victim’s fault for not spotting the tax avoidance scheme. If that’s your view, then listen to this conversation and hear directly from Wolf about how he was duped into this arrangement. Wolf’s dignity and honesty in telling his story is humbling, and the real-life impact on him and his family is devastating.
If you have no idea what the loan charge is, you can read about it here
Whether or not those affected by the loan charge are wealthy individuals deliberately avoiding tax, or innocent people caught up in a scam, the fact remains that the loan charge amounts due are life changing and eye-wateringly high for most people. This has led to severe mental distress for some people who have very real concerns about possibly losing their house or other assets in order to pay their debt.
If you are affected by the loan charge, we recommend that you check out the Loan Charge Action Group (LCAG) which exists to provide information, raise awareness, and support affected people, visit their website: www.hmrcloancharge.info