Following on from our recent podcast chat with a loan charge victim, we have an exclusive interview with Steve Packham, Founder of the Loan Charge Action Group (LCAG). We created this extra episode to bring you an overview of many peoples experience of the loan charge, and to dispel the myth that it is somehow the victims’ fault for not spotting they are involved in a tax avoidance scheme. It is disappointing that this inaccurate rhetoric continues to present loan charge victims as tax avoiders, so we wanted to bring you the truth, directly from the Loan Charge Action Group, as they have an informed view.
So join us for this conversation in which we discuss everything including how the legislation came about, the early day motion, the Loan Charge All Party Parliamentary Group, their alternative settlement proposal and of course the devastating impact on victims of the loan charge. If you are in any doubt as to the facts, you need to listen to this podcast.
If you have no idea what the loan charge is, you can read about it here
Whatever your view about the legislation, the fact remains that the monies being sought by HMRC are life changing and impossible to pay for most people. This has led to severe mental distress for some people who have no option but to consider bankruptcy, 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