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HM Treasury defends loan charge amid sustained criticism

HM Revenue & Customs is committed to supporting taxpayers affected by the imminent loan charge, but does not accept claims made in some of the testimonies shared by members of Parliament, according to HM Treasury …

The government’s approach has attracted fierce criticism from a cross-party group of MPs, as well as the House of Lords Economic Affairs Committee. Tax barrister Keith Gordon of Temple Tax Chambers called last October for the loan charge to be repealed, arguing that HMRC was using the charge as a way to cover up its own failure to take action “over the last 15 years.”

My news story for Tax Notes (paywall), March 27: U.K. Treasury Defends Loan Charge Amid Sustained Criticism