28/08 - LCL Update

Updated: Sep 11, 2020

It has been a busy few days for the team at Loan Charge Legal. Since launching on 22nd August we have been inundated with registration requests and the team continues to work incredibly hard to get through these as fast as possible. We would like to thank you all for registering and hope you have had the time to read the information on the site. We have received questions with regards to the case specifics but as you can understand, divulging the detail could jeopardise the case. However, where possible the FAQ section will be updated with any further information or clarifications that can be provided. We especially thank those of you who have donated to the case. As a reminder, 100% of the donations go towards the lawyers and QC. Loan Charge Legal is manned by fellow LC victims volunteering their time and efforts. Even before launching, we engaged with a number of other organisations who have been representing LC victims over the past few years. They have had access not only to the opinion but to the lawyers themselves and have been diligently asking their own questions, so they can inform their clients accordingly. We are pleased to say that WTT Consulting have emailed their clients on this matter and have also offered their technical assistance and we v much thank them for it. In addition, the Loan Charge Settlement Group has come out in support of this action. Again we wholeheartedly thank them for their support. Dave Chaplin of Contractor Calculator, who has been a champion of contractors and small businesses for many years, has posted positively about LCL on LinkedIn and we thank him for such support. Matt Hall of Armadillo Support also confirmed online that our lawyers being used are 'top notch' and the (LCL) ‘intentions are honourable'. Support is growing but we strive to reach out further and wider. The target we are trying to reach is £220,000 and time is VERY limited. If you are still thinking about whether to donate or not then here is a reminder of why we think this case can help us:

  1. Whilst there are other JRs running or planned, this case aims to challenge the LC from a different perspective, that the Morse review was not independent at all.

  2. This case doesn’t detract from or interfere with any other actions being taken. In fact, it is essential that all sensible avenues that could benefit LC victims be explored, to give ourselves the best chance to successfully defeat the Loan Charge.

  3. We will be asking for an Injunctive relief on the Loan Charge itself, which in layman’s terms means HMRC cannot apply the LC for the duration of the case. This not only gives individuals some respite but also gives other JRs time to prepare and proceed. The vast majority of LC victims are not, and have never been, in a position to pay these life-changing amounts of unproven debt.

  4. We believe that taxpayers rights should be protected particularly from retrospective taxation. If the Loan Charge is applied then it is only a matter of time before other retrospective taxation will be introduced.

  5. Appealing to MPs and ministers and using the parliamentary process has not resulted in removing retrospection or the Loan Charge, given the cross party support the APPG had. So now is the time to take the matter in our own hands and force the government into the legal route that they have worked so hard to avoid.

News of the case has already reached the Mainstream Media, and several of the globally recognised outlets have expressed a keen interest to run the story when it reaches court. The significance of this in the overall fight for ALL LC victims can not be overstated. Finally, there is more you can do to help! Please reach out to any other LC victims you may be aware of and let them know of this case. Not all use social media or have a tax advisor/accountant. This is an excellent opportunity for ALL LC victims to help to turn the tide on the Loan Charge. We cannot do this without YOU. We need donations NOW if we are to reach the target to initiate the case. We’ll bring you more as soon as we can. Loan Charge Legal Team

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