Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether people participating in the Share Fisherman Scheme will be able to continue to participate in the scheme for the length of their working lives.

The current voluntary payment scheme for share fishermen was introduced to help customers with an uncertain earning pattern to save towards their income tax liability, which is accounted for and paid via the annual self-assessment (SA) process. The scheme is supported by Barclays, operating special bank accounts, from which HMRC can periodically withdraw funds.

These arrangements no longer meet banking regulations. There has also been very low take-up of the voluntary payment scheme, so HMRC are working with Barclays to review what services can be offered to share fishermen in future, taking into account developments in the income tax self-assessment process and wider tax administration as well as the payment options available to other taxpayers.