Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of whether people who previously settled Loan Charge liabilities with HMRC will be offered equivalent terms to those available under the new settlement opportunity following the McCann Review.

At Budget 2024, the Government committed to a new independent review of the loan charge. The purpose of the review was to bring the matter to a close for people who have not settled and paid their Loan Charge liabilities.

The Government has accepted all but one of the Review’s recommendations, and in some areas has gone further. The Government has introduced legislation in the Finance Act to provide for a generous new settlement offer which it hopes maximises the opportunity for individuals to come forward and settle. I am committed to deliver the Government’s ambition to bring this matter to a close for as many customers as possible.

As outlined in the Tax Impact and Information Notice published in November 2025 about the recommendations from the independent loan charge review, there are approximately 32,000 individuals who have an outstanding loan charge liability.

HMRC began contacting customers to notify them of their eligibility for the new settlement opportunity from January 2026. When the new settlement opportunity is enacted, HMRC will contact customers again, in stages, to explain what it means for them based on their specific circumstances.

The Government’s response to the review represents a fair and proportionate attempt to provide a route to resolution for those who have not yet been able to settle with HMRC. In turn, this requires those individuals to now come forward and engage with HMRC in good faith.

Tax avoidance deprives the Exchequer of funds needed to deliver vital public services and it is right that resources are targeted to stop this. There are no plans to apply the review’s recommendations beyond those individuals and employers with outstanding liabilities that were the focus of the review.