Asked by: Joshua Reynolds (Liberal Democrat - Maidenhead)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many people HMRC has identified as being liable for the Loan Charge who have not yet (a) paid and (b) settled to avoid it (i) in total and (ii) by Parliamentary constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
HMRC has previously estimated that around 40,000 individuals and 5,000 employers were liable to the Loan Charge and were yet to settle with HMRC, including those who had settled some but not all of their liabilities. This information is not available at parliamentary constituency level.
Between Budget 2016 and 31 March 2024, HMRC agreed just over 25,000 settlements with employers and individuals of their disguised remuneration schemes, bringing into charge around £4.2 billion in revenue.
Asked by: Joshua Reynolds (Liberal Democrat - Maidenhead)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make it her policy to pay additional compensation to people impacted by the collapse of Equitable Life.
Answered by Tulip Siddiq
The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.