Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the finding of the Independent Loan Charge Review that loans made pre-December 2010 were made before the law was clear, for what reason HMRC has pursued tax from people with pre-2010 open years.

The Independent Loan Charge Review set out that the loan charge should only apply to loans made on, or after, 9 December 2010. However, it also made clear that, for years before this, where there is an enquiry or assessment, HMRC still had the ability to pursue the tax due under the existing rules.

Where there are open enquiries for periods before 9 December 2010, HMRC will resolve these in line with the HMRC Litigation and Settlement Strategy. Closing open enquiries for less than the amount of tax due under the law is not within this Strategy, nor would it be fair to those who have already settled with HMRC on the basis of their full liability, or fair to taxpayers more generally.