Tax Avoidance:Written question - 906213

Asked by Peter Aldous

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: 03 July 2018
Tax Avoidance
What assessment his Department has made of the effect of the 2019 Loan Charge on people affected by that charge.
Answered by: Mel Stride
Answered on: 03 July 2018

This government is committed to tackling tax avoidance and evasion to ensure that everyone pays the right amount of tax at the right time.

Disguised Remuneration schemes are an aggressive form of tax avoidance costing the exchequer hundreds of millions of pounds each year.

People who use these schemes receive income in the form of a loan, which they claim is not taxable. However, the loan is, in fact, never repaid. This is wrong and is unfair on those who pay their fair share.

The Disguised Remuneration loan charge will apply so the tax due from these schemes is paid.

HMRC have published an impact assessment and are able to help those who are in genuine financial difficulty, for example, by arranging for more time to pay or for payment by instalments.

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