A proud moment. Delighted to retain my title as Nations and Regions Journalist of the Year at the @Headlinemoney_ awards! Thank you to my great friend and colleague Chris Burn (who was also shortlisted) for picking up the trophy. @yorkshirepost@JayMitchinson 1)
@charlotte_giff HMT worried that Ex-HMRC official who introduced Accelerated (no challenge) Payment Notices, then saw them used way beyond the original limited and appropriate scope promised to Parliament - especially with #LoanCharge, might have a conflict of interest as Review Lead, much?
An FOI shared with the Telegraph shows Treasury officials raised concerns that appointing Ray McCann to lead the loan charge review could be a "perceived conflict of interest"
Treasury Minister @Dan4Barnet says the Government wants to resolve the #LoanChargeScandal but their approach leaves THOUSANDS of cases unresolved. He continues to call the #McCannReview ‘independent’ but the latest FOI revelations shatter that pretence ⬇️
https://t.co/oRTa8VgTpS
@loanchargeAPPG@AndrewRosindell And what about those facing loan recalls?
20% to Promoters
30% to HMRC (because they deem it was wages and NOT loans)
100% back to Promoters (as HMRC say it WAS a loan)
..so I worked for 3 years to earn nothing and pay tax on the money other people received for my efforts!!!
The number of tragic suicides linked with #loancharge stands at 11. And as latest @loanchargeAPPG letter states, 'it is wrong that the only party being pursued is the group Chancellor called victims of mis-selling'. #LoanChargeScandal
Thank you @charlotte_giff . Bizarre response from Gov Spokesman who seems to think that a conflict of interest is a suitable qualification. #LoanChargeScandal
The loan schemes were sold as HMRC-compliant. Many contractors have since settled their tax with HMRC. Now they're being told to repay the loans as well.
Let that sink in.
These were loans that, by design, were never meant to be repaid. They were sold to contractors as a legitimate, HMRC-compliant way to be paid. The entire pitch was that the money was a "loan," not income, so it sat outside income tax.
Now contractors are being hit from both directions over the very same arrangement:
• First by HMRC, via the loan charge, taxed as if it were income.
• Now by a third party, demanding repayment as if it were a genuine loan.
How can the same money be income and a loan at once? It can't, but contractors are being pursued as if it is: taxed by HMRC as income, then chased by a firm that bought up the old loan book. HMRC calls it a "rare occurrence." One law firm contesting the claims already has 650 clients.
Full breakdown of what HMRC actually says, the key court case, and where to get help.
https://t.co/JbssCmuoiy
Staggering ineptitude HMRC highlighted at @CommonsPAC by @sarahjolney1 & @SarahGreenLD.
£186m to collect £44m from 800 #LoanChargeScandal victims over 6 years. What cost to pursue remaining 37k victims?
Misleading answers from CEO Jean-Paul Marks.
Thank you for questions.
@gregwrightYP@yorkshirepost@CommonsPAC@loanchargeAPPG The fact HMRC have achieved 800 settlements for 50K+ cases outstanding (!) and spent £186m clawing back £44m is indeniable proof they are squandering taxpayer money unchecked trying to draw blood from a stone. And as those 800 were the "low hanging fruit, good luck with the rest.
Absolutely 💯 agree. We need a proper inquiry into the #HMRC #LoanCharge by the @CommonsPAC. For a background into the failed @UK@UKLabourabour #McCannReview read Trevor Price article.
The Labour Government’s McCann Review of the Loan Charge – and Why Critics Say It Falls Short
https://t.co/qhfx5fzoHQ