To ask the Chancellor of the Exchequer, what steps he is taking to work with his international counterparts to investigate companies and agents who were promoting loan charge schemes.
7 July 2020
The UK has one of the world’s largest networks of tax treaties and exchange agreements which HMRC regularly utilise to exchange information with other countries’ tax authorities. This includes asking, where appropriate, for information that will assist investigations into tax avoidance schemes including those caught by the loan charge and the companies and agents who promote these schemes.
The UK via HMRC is also a leading member of the Joint International Taskforce on Shared Intelligence and Collaboration (JITSIC), a network of 42 national tax administrations. The core purpose of JITSIC is to facilitate the sharing of information and collaboration between tax authorities in order to identify and close down abusive tax arrangements.