Loan Charge

Debate between Nigel Huddleston and Jacob Rees-Mogg

Thursday 18th January 2024 Commons Chamber

[Nigel Huddleston]

I will take a couple more interventions, but I fear that colleagues will ask about the very things I am about to come to, so I may then resist further interventions.

[Sir Jacob Rees-Mogg]

My hon. Friend refers to the 2017 Supreme Court judgment. As I understand it, that judgment decided that responsibility for the use of an employee benefit trust for tax fell unequivocally on the employer, so it does not necessarily support him in the way he may think.

[Nigel Huddleston]

There has been debate and disagreement on that, particularly as it relates to section 44 of the Income Tax (Earnings and Pensions) Act 2003 and so on. HMRC has outlined the policy stance on this. Although I understand that there is disagreement, the line is quite clear at the moment.