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Tax Avoidance

Question for Treasury

UIN 65394, tabled on 28 October 2021

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of a further independent review of the Loan Charge since Lord Morse's 2019 Review.

Answered on

3 November 2021

A comprehensive independent review of the Loan Charge has already taken place. In September 2019, the Government commissioned Lord Morse to lead this Review. There are no plans for a further review of the Loan Charge.

Lord Morse’s report was published in December 2019 and concluded that it was right for the Government to collect the tax due, but also recommended changes to how the Loan Charge works.

The Government accepted all but one of the Review’s 20 recommendations, which is estimated to benefit over 30,000 individuals, removing 11,000 from the Loan Charge entirely.

These changes have improved how the Loan Charge operates, which ensures that individuals pay the right amount of tax and ensures fairness for all taxpayers and the wider public.

Answered by

Treasury