Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has had recent discussions with HM Revenue and Customs on the potential merits of providing additional support to people affected by the loan charge.

The Government recognises that tax burdens including those related to the Loan Charge can add significant pressures.

HMRC has a well-established approach to supporting taxpayers who are struggling to pay their liabilities in full. HMRC offers taxpayers affordable and sustainable instalment arrangements based on their specific circumstances. These Time to Pay arrangements are flexible, have no maximum length and can be amended if the taxpayer’s circumstances change.

HMRC is committed to identifying and supporting taxpayers who need extra help with their tax affairs. HMRC has a dedicated telephone line for those seeking to exit a tax avoidance scheme and a debt helpline, with guidance and training in place for staff on how to identify taxpayers who need extra support.

Where appropriate, HMRC refers taxpayers to outside organisations that can provide further advice and support. In October, HMRC began piloting a new service with Samaritans to provide specialist emotional support via a dedicated helpline number.