House of Commons
Sir Amyas Morse's review of the Loan Charge
EDM #296
Tabled 16 March 2020
2019-21 Session
That this House welcomes the publication of Sir Amyas Morse’s Loan Charge review and the announcement that the Government will make some amendments to the relevant legislation; notes that loans made before 2010 will no longer be subject to the Loan Charge and that the self-assessment deadline has been delayed until 30 September 2020; believes that people should pay the tax that they owe, but that HMRC failed to work constructively with those seeking a Loan Charge repayment plan, with concerns that some may face bankruptcy or homelessness; demands HMRC review the implementation of this policy to ensure that nobody seeking to make repayment is treated unfairly with undeliverable financial demands; condemns the tax professionals who advised clients to use such loopholes given the importance of people paying their fair share for public services; and urges the Government to pursue the organisations that facilitated these loans.