Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the number of people who would remain within scope of the Loan Charge if the recommendations of the Independent Review into the Loan Charge are fully implemented.

The Government published Sir Amyas Morse’s independent review of the Loan Charge on 20 December, alongside the Government’s response to his recommendations.

The Government accepted all but one of Sir Amyas’s recommendations. This means that out of the estimated 50,000 individuals who used a loan scheme between 1999 and 2019 and did not settle with HMRC before March 2016, it is estimated that more than 30,000 people will benefit from the significant package of measures announced, 11,000 of whom will be taken out of scope of the charge altogether.