PEOPLE in Oxfordshire could be left bankrupt and without their homes if Boris Johnson doesn’t ‘act fast’, says Layla Moran.

In a letter to the PM the Oxford West and Abingdon MP explained that ‘urgent action’ needs to be taken on the new 2019 Loan Charge.

The Loan Charge affects those who have taken out a disguised remuneration (DR) scheme – a tax avoidance initiative.

The Oxford Times:

People signed up to the scheme to avoid paying income tax or contribute to national insurance.

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Under the scheme they are paid their normal income in the form of a non-repayable loan.

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The Government website said: “So they are no different to a normal income and are taxable.”

But the MP said the charge on the scheme was ‘unfair in its retrospection’.

She added: “Time is fast running out for my constituents and others to avoid long-term hardship, bankruptcy, losing their homes and the inevitable repercussions for themselves.”