Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the adequacy of the Independent Review of the Loan Charge.

The Government has commissioned an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers.

The Government does not think it is right for people affected by the Loan Charge to have to wait years for any progress on bringing this matter to a close for them. The Government has therefore ensured that the review has a focused remit, allowing it to report by this summer. The Government will respond by Autumn Budget 2025.

Alongside the review, the Government is committed to tackling promoters of tax avoidance and will consult on measures to tackle promoters of marketed tax avoidance, including new powers focused on those who own or control promoter organisations and options to tackle legal professionals behind avoidance schemes.