The #loancharge was punitively retroactive, and retrospective in its effect. Never should have happened. It's significantly undermined trust in the tax system, undermined certainty, and the rule of law.
An independent inquiry is needed to understand how the policy process failed, resulting in such catastrophic consequences.
Loan Charge Action Group [LCAG]@LCAG_2019
The Treasury is having private discussions about the #McCannReview recommendations, on top of the significant restrictions on it. We’ve written to Ray McCann urging him to disown the whole review if he’s not allowed to resolve the #LoanChargeScandal. hmrcloancharge.info/wp-content/upl…
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