Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent estimate he has made of the amount of revenue that will be raised from the Loan Charge.

The Loan Charge was announced at Budget 2016 as part of a package of measures to tackle Disguised Remuneration tax avoidance. The forecast was last revised at Spring Budget 2021, with the latest estimated overall Exchequer yield of £3.3 billion for the entire package, which includes an element of Loan Charge.

In September 2019, the Government commissioned an Independent Review into the Loan Charge, led by Sir Amyas Morse. The changes to the Loan Charge following the independent review were estimated to reduce the yield forecast through Loan Charge. At Budget 2020, the changes were costed as a separate measure, with an estimated reduction to the Exchequer yield of £745 million.