Loan Charge: HMRC Grilled By Lords Economic Committee

Yesterday, HMRC’s Chief Executive Jim Harra was grilled by the House of Lords Economic Affairs Committee during a public evidence session relating to the Loan Charge, a policy which retrospectively charges individuals tax and NICs going back 10 years.  The thousands of affected individuals are being pursued for lifechanging amounts of money, usually 6-figure sums, […]

HMRC Responds to Loan Charge APPG Questions

In February 2021, the Loan Charge APPG wrote to Jim Harra, HMRC’s Chief Executive outlining a number of concerns in relation to contractors’ use of disguised remuneration (DR) schemes whilst they were engaged to undertake work for HMRC.  Harra has now published his response which asserts the following: That HMRC did not withhold information regarding […]

Loan Charge: FOI Suggests No Legal Basis for HMRC’s Policy

A freedom of information (FOI) request has revealed and email in which HMRC’s CEO, Jim Harra, queries the legal basis of the controversial loan charge policy.  The email acknowledges HMRC’s position that these arrangements do not work but “in recent months I have repeatedly tried to obtain legal analysis to understand the strength of our […]