,
6 tweets,
2 min read
Read on Twitter
1/6 I cautiously welcome the announcement of Sir Amyas Morse as the individual to lead the review into the loan charge. As a chartered accountant and former head of the NAO, he certainly has the skills to look at this topic.
2/6 It is understandable why the review has been given such a short timetable, but this will leave many people wondering whether there is sufficient time to allow the review to be as thorough as it needs to be.
3/6 I hope that, if at any time in the next two months Sir Amyas considers that more time will be needed, he will feel able to request an extension and require all enforcement activity related to the loan charge to be suspended in the meantime.
4/6 I am also a little concerned that the review will be staffed by HMRC and HMT civil servants. Whilst this ensures that the cost is to be borne by the Exchequer, there'll be a perceived conflict of interests given that HMRC and HMT are likely to come in for a lot of criticism.
5/6 As the Rt Hon Iain Duncan Smith (@MPIainDS ) has already pointed out, the review must include a call for evidence.
6/6 If anything has already been learned from the past 24 months, it is that HMRC and HMT officials are able and willing to manipulate facts in order to justify their actions in respect of the loan charge. Accordingly, external evidence is essential.
