More than 200 MPs have called for a suspension and independent review of a controversial tax policy.
The government has been urged by the daughter of a man who took his life to stop the controversial tax policy which she says played a part in his death.More than 200 MPs have also called for a suspension and independent review of the policy, which seeks to recover large sums from freelancers paid via a loan from an offshore trust."Our sympathies are with the family and friends of the individual.
If they fail to do so, they have been told they will have to add up all the loans they have had in the last 20 years and pay a"loan charge" at tax rates of up to 45% by the end of January - a sum that often far exceeds their annual incomes.In total, 151 MPs have joined an All-Party Parliamentary Group on the loan charge which highlights their concerns about the effects of HMRC pressure on constituents' mental health and family lives.
Asked how she could be sure the loan charge played a role in his death, Gayle, a 35-year-old mother of four, said he had been preoccupied for months with trying to resolve the loan charge and made it clear in his letter to the family. The Treasury has said it is too late to go after the promoters of the schemes, many of whom made large profits, or the accountants who recommended them.
They were required to add up all their loans from trusts going back to 1999, declare them and make an offer to HMRC to settle the underpaid tax. Others had no choice because their employers, including many public sector employers, insisted on trust-loan arrangements as a condition of employment.
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