The All-Party Parliamentary Group on the Loan Charge have today published a comprehensive report which exposes the fundamental flaw in the Government commissioned Morse Review into the Loan Charge. The APPG report follows two witness sessions and written evidence, as well as the APPG contacting and seeking views from all the experts listed in the Morse Review report. Most experts contacted confirmed that they did not agree with the Morse Review conclusion that the “law was clear” after December 2010, which then unravels the key Morse Review recommendation, to leave the Loan Charge in place from this date.
The APPG report exposes how the Treasury commissioned Morse Review came to a flawed and unjustified conclusion which still leaves an estimated 35,000 – 40,000 people facing Loan Charge demands, that they cannot legally challenge, despite it not having been legally proven that the tax is due.
The main conclusion of the Morse Review was that the “law was clear” after December 2010. This is simply not the case in terms of the legislation itself, HMRC’s lack of action or court rulings. What is more, the Review stated that experts agreed on this point, something that has now been exposed as simply not being the case.
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