The UK government has rejected a call from more than 150 members of Parliament for the suspension and independent review of the controversial loan charge.
Financial Secretary to the Treasury Mel Stride insisted that the charge is not retrospective, telling MPs that “there was never a time” when the payment model used in disguised remuneration schemes was “correct within the tax rules.”
MPs concluded on April 11 a backbench business debate that was suspended on April 4 because of a water leak. A cross-party motion expressed “deep concern and regret” about the “mental and emotional impact” of the loan charge.
My news story for Tax Notes (paywall), April 12: https://www.taxnotes.com/lr/resolve/worldwide-tax-daily/u-k-treasury-dismisses-cross-party-calls-for-loan-charge-delay/29cc
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