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1336573

registered interest
date	15/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Equitable Life Assurance Society
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with Cabinet colleagues on compensation and support for those affected by the Equitable Life scandal.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	16065
answer	answer is ministerial correction date of answer 21/06/2021 answer text <p>The Equitable Life Payment Scheme closed to claims in 2015 and there are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/06/2021 11:47:17 answering member 4051 label Biography information for John Glen
tabling member	3960 label Biography information for Henry Smith

1336624

registered interest
date	15/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Avoidance: Bankruptcy
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his most recent estimate is of the number of people subject to Loan Charge repayments who have been made bankrupt.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	16066
answer	answer is ministerial correction date of answer 23/06/2021 answer text <p>No estimate can be provided for the number of people who have fallen into debt, or who have been declared bankrupt, and are subject to the loan charge.</p><p> </p><p>Where debts arise, HMRC are not always the only creditor. Some individuals may fall into debt or are declared bankrupt as a result of a non-HMRC debt and some individuals may choose to enter insolvency themselves based on their overall financial position.</p><p> </p><p>HMRC only ever consider insolvency as a last resort and they encourage taxpayers to get in contact to agree the best way to settle their tax debts. Anyone who is worried about being able to pay what they owe is encouraged to get in touch with HMRC as soon as possible on 0300 322 9494. Where a taxpayer is unable to pay their debt in full HMRC will work with them to agree an instalment arrangement based on their individual financial circumstances, and there is no maximum length.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 23/06/2021 07:24:38 answering member 3991 label Biography information for Jesse Norman
tabling member	3960 label Biography information for Henry Smith