Tax Avoidance:Written question - 146978

Q
Asked by Faisal Rashid
(Warrington South)
[N]
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Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 22 May 2018
Treasury
Tax Avoidance
Commons
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect on the (a) economy and (b) NHS of the 2019 Loan Charge.
A
Answered by: Mel Stride
Answered on: 04 June 2018

The 2019 loan charge is targeted at artificial schemes where earnings were paid in the form of non-repayable loans made by an offshore third party.

It is unfair to ordinary taxpayers to let anybody benefit from contrived tax avoidance of this sort, and that is why this government has taken action to ensure that everybody pays the taxes they owe.

Given the specific targeting of these contrived tax avoidance schemes, the 2019 loan charge is not expected to have significant effects on the economy or the NHS.

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