Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many individuals in (a) the Chichester constituency and (b) the UK have been issued tax demands under the Loan Charge policy; and what estimate she has made of the total value of those demands.

Information on the number of individuals subject to the Loan Charge is not held at constituency, borough or regional level.

HMRC’s estimate of the number of individuals that are affected by the Loan Charge policy is around 45,000. Some of these individuals have already settled with HMRC.

The Government commissioned an independent review of the Loan Charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge.

The Government accepted the review’s conclusion that the Loan Charge was an extraordinary piece of Government policy which necessitated an exceptional response, and is now legislating a new settlement opportunity that will assist those who have not yet settled to do so.

The Government’s response to the review represents a fair and proportionate attempt to provide a route to resolution for those who have not yet been able to settle with HMRC. In turn, this requires those individuals to now come forward and engage with HMRC.