Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the Loan Charge on the mental health of those affected; and if she will take steps to prevent such harm.

The Government 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 will respond by Autumn Budget 2025.

The independent review was led by Ray McCann whose name was suggested by one of the Loan Charge campaigners. The terms of reference made it clear that he would be supported by a team of officials based outside of HM Treasury and HMRC, none of whom had previously worked on this policy area. Mr McCann was responsible for deciding how to conduct the review and will also have the final say on what is included in his report.

HMRC has guidance and training in place for customer advisors on identifying people who need extra support and providing reasonable adjustments to meet their needs. HMRC can offer support to individuals with disguised remuneration liabilities through manageable payment plans and its well-established Extra Support Service.

Where appropriate, HMRC will signpost people to relevant voluntary and community organisations and where needed, to a dedicated Samaritans helpline for specialist emotional support where people can talk though any concerns or worries.