I agree with much of your reflections on the loan charge. But I would like to challenge two comments you made. In the meantime, I wish you well as you embark upon your life post-CIOT Presidency.
Comment 1:
“the tax position was sufficiently clear after December 2010 for taxpayers to have been aware of the position and their responsibilities. This is hard to argue with …”
Comment 2:
“if any further relief is to be available to such taxpayers, their campaign needs to shift to focus onto the mis-selling element”
Re comment 1, please explain to me why the position should have been so obvious for self-employed taxpayers. In particular, at the time, HMRC’s arguments in court/tribunals were being constantly rejected and the new legislation unambiguously focused exclusively on employees.
Re comment 2, your suggestion appears to acknowledge that the taxpayers were victims of misselling and ought to have a remedy. Given that relief can be easily made through the tax system and that HMRC were not entirely innocent in this fiasco, why should the campaign focus move?
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