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Yorkshire Post – Greg Wright:

The author of an independent review into the loan charge has slammed the “reprehensible” behaviour of promoters and professional advisers who are continuing to sell loan schemes, despite knowing they will not deliver the tax benefits promised.

Sir Amyas Morse found that the tactics used by promoters included misrepresenting the DOTAS (disclosure of tax avoidance schemes) system to claim that schemes had been approved by HMRC, or providing opinions from Queen’s Counsel suggesting that HMRC would be unsuccessful if they tried to claim the tax.

…Sir Ed Davey MP, Liberal Democrat MP for Kingston and Surbiton, who was the chairman of the Loan Charge APPG in the previous Parliament, said: “At last we have the news that the draconian Loan Charge legislation is to be significantly amended in Parliament next year.

…“I intend to re-establish the Loan Charge APPG for the new Parliament to examine these proposals in more detail in the New Year and we will seek to work constructively with the Government before and during the passage of the legislation when it comes before Parliament.”