Loan Charge

Debate between Sammy Wilson and Tanmanjeet Singh Dhesi

Thursday 18th January 2024 Commons Chamber

[Sammy Wilson]

Indeed, it is, and I will come to the issue of HMRC chasing the individuals, rather than the promoters.

[Mr Tanmanjeet Singh Dhesi (Slough) (Lab)]

Will the right hon. Member give way?

--- Later in debate ---

[Sammy Wilson]

Let me just make this point: it seems that HMRC is going after those whom it regards as easy targets. The promoters of the scheme have not paid one penny, despite the fact that they have made hundreds of millions of pounds from the schemes, have mis-sold them and have disappeared when there is any attempt to get at them. The promoters are not being pursued and, indeed, HMRC has admitted that it does not intend to chase after the promoters, and yet individuals are being harassed to the point where many of them have taken their own lives.

[Mr Dhesi]

I congratulate the right hon. Member on having secured today’s debate, especially given that at least 10 people have sadly committed suicide. It is of course essential that disguised remuneration schemes are dealt with fairly and effectively, but why does he think the Government and HMRC have not actively pursued the architects and promoters of the scheme, rather than the victims who have been led into the schemes?

[Sammy Wilson]

The answer is easy: the victims are easy targets. They are the ones who are easy to chase. The promoters of the schemes have all kinds of means of defence. Many disappeared when they realised that they may well be pursued. This is the baffling thing, and maybe the Minister can explain it: if these schemes are designed as contrived ways of avoiding tax, why is HMRC not pursuing even some of the new promoters who are establishing themselves today and who will have disappeared by tomorrow, once it is seen that their schemes are being challenged?