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1341868

registered interest
date	29/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bankruptcy: Tax Avoidance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the number of people who will declare bankruptcy as a result of the Loan Charge in 2021.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	24276
answer	answer is ministerial correction date of answer 06/07/2021 answer text <p>I refer the Honourable Member to the answer given on 23 June 2021 to UIN 16066.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 06/07/2021 16:23:31 answering member 3991 label Biography information for Jesse Norman
tabling member	4482 label Biography information for Owen Thompson

1341869

registered interest
date	29/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bankruptcy: Tax Avoidance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will take steps to ensure that HMRC does not enforce payment of the Charge or settlement sums by people facing bankruptcy as a result of the Loan Charge.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	24277
answer	answer is ministerial correction date of answer 06/07/2021 answer text <p>There are many reasons why someone might be facing bankruptcy, including as a result of a non-HMRC debt. Some individuals may choose to enter insolvency themselves based on their overall financial position. HMRC are therefore unable to determine if an individual is facing bankruptcy as a result of the Loan Charge specifically. However, HMRC only ever consider enforcement action as a last resort and will always attempt to engage in discussion with a taxpayer regarding payment, and where appropriate, agree a manageable payment arrangement based on individual circumstances. In addition, HMRC will only ever consider pursuing bankruptcy as a last resort, for example where the taxpayer is refusing to pay but has the ability to do so.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 06/07/2021 16:25:18 answering member 3991 label Biography information for Jesse Norman
tabling member	4482 label Biography information for Owen Thompson

1271618

registered interest
date	16/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bankruptcy: Tax Avoidance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, What estimate he has made of the number of people subject to the Loan Charge who have been declared bankrupt.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	130647
answer	answer is ministerial correction date of answer 11/01/2021 answer text <p>No estimate of the number of individual bankruptcies has been made, although the original impact assessment acknowledges that there are likely to be some. The impact assessment can be found here: <a href="https://www.gov.uk/government/publications/disguised-remuneration-further-update/disguised-remuneration-further-update" target="_blank">https://www.gov.uk/government/publications/disguised-remuneration-further-update/disguised-remuneration-further-update</a>.</p><p> </p><p>HMRC cannot provide an estimate for the number of people subject to the Loan Charge who have been declared bankrupt, as they could have been declared bankrupt for many reasons and not necessarily as a direct result of a Loan Charge liability. HMRC are not always the only creditor and some people may be 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 encourage people to contact them 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 03000 599110.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 11/01/2021 14:58:11 answering member 3991 label Biography information for Jesse Norman
tabling member	1409 label Biography information for Mr Gregory Campbell