Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps HMRC is taking to ensure the timely processing of settlements arising from the implementation of the Independent Review of the Loan Charge.

The new Loan Charge Settlement Opportunity (LCSO) is currently being legislated for and 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 taxpayers to now come forward and engage with HMRC in good faith.

When the new settlement opportunity is enacted, HMRC will contact customers again, in stages, to explain what it means for them based on their specific circumstances.