December Update from our Chair to the Advisory Panel
1 January 2024

December Update from our Chair to the Advisory Panel

As Christmas and New Year approaches, I would like to provide an end of year update upon behalf of the Investment Fraud All Party Parliamentary Group Advisory Board. It has been an honour and a privilege to co-found this APPG and to be appointed Chair of our esteemed panel of advisors.


Investment Fraud is far from victimless. It is an appalling crime that shatters lives and breaks families apart. Charging rates are shockingly low, there is very little specialist support or financial redress available to victims and many victims are struggling to deal with the financial and psychological consequences of HMRC action against them for tax liabilities emanating from crime.


Fraud is now the UK’s most prevalent crime and we need a system fully equipped to deal with it. Accordingly, we are calling on our Government and every part of the criminal justice system (including His Majesties Revenue and Customs) to come together with priority, conviction, empathy and determination to see justice done in these cases and to better support victims. Otherwise, we are simply letting fraud victims and their families as a society down.

2023 has been a pivotal year for our APPG and seen:


A New Secretariat


1.    Keller Postman Solicitors taking over our secretariat;


A New Panel of Advisors


2.    The formation of a new panel of expert advisors including Rick Muir, Director of the Police Foundation, Adam Richardson, Barrister of 1EB, Margaret Snowdon OBE of the Pensions Scams Industry Group, Andy Agathangelou, Co-founder of the Transparency Taskforce to our board. We also appointed campaigner Sue Flood as our victim representative. Having a strong, knowledgeable panel of expert advisors is vital to the success of our APPG;


Treasury Expertise


3.    The appointment of former Treasury Minister Sir Stephen Timms (Chair of the DWP Select Committee) and Lord John Mann (Former Treasury Select Committee Chair) to our panel. We also welcomed MP Toby Perkins to our APPG. We sought senior parliamentarians with direct experience of treasury matters to help formulate workable and pragmatic recommendations for reform to present to HMRC and The Treasury.


Our First APPG Inquiry


4.     We brought together experts, victims and parliamentarians to Parliament from across the political spectrum to inquire into the tax treatment of investment and pension fraud victims. The evidence provided has contributed to our first inquiry report. 


Recommendations


5.    We researched best practice overseas and held roundtable discussions at Parliament with lawyers, financial advisors, tax experts and investigators amongst others to formulate workable recommendations and a new framework to present to HMRC & The Treasury


Media Outreach & Engagement


6.    We launched new social media channels and hit the news channels. We filmed victim evidence sessions and participated in a fly on the wall documentary.


Letters & Briefings


7.    Our parliamentarians wrote many letters and also held numerous meetings with ministers to seek to highlight the plight of victims and call for reforms.


Submissions to Government Committees


8.     In recent months we have submitted evidence and recommendations to the Home Affairs Committee Inquiry into Fraud and The Public Accounts Committee in response to their call for evidence. Further details will be published in due course.



We are now seeking meetings with government ministers and HMRC to present our evidence and findings and to discuss our proposals for reform. We hope that these proposals will be welcomed and provide an alternative mechanism for dealing with tax liabilities arising from fraud. I fully appreciate this is an uphill battle. But our aim is not simply to criticise. We recognise that HMRC officers have a vital job to do in raising funds for our public services and do so in difficult conditions. Our aim is to help create a more efficient and effective as well as fairer system for both HMRC, the Treasury and for victims. We hope we’ve struck an appropriate balance and that our suggested reforms are a good starting point for government ministers and policy-makers to consider. 


Our calls for reform include :


-   Relief for historic victims;

-   An Independent Inquiry;

-   Legislative & Policy Change;

-   Reform at HMRC;

-   Greater support for Victims.


In 2024 we have an exciting programme of work.


Firstly, our campaign for fair tax treatment for investment and pension fraud victims will continue and we will be marching to Parliament and HMRC to formally present our inquiry findings and to call publicly for reform.


I am also delighted to share that we will be partnering with the Social Market Foundation (https://www.smf.co.uk ), Britain’s leading cross-party think-tank to conduct primary research and develop evidence based policies to present to government. Victims have reported to us that they are being denied justice and that our law enforcement agencies and regulators are failing them. Together with the SMF we will be considering access to justice and how our system compares to other jurisdictions with a particular emphasis on best practice in the US.


We will also be conducting focused inquiries and research into a number of highly targeted groups including sports professionals and music artists, pension savers and military veterans.


I would like to place on record our gratitude to all our cross-party parliamentarians for their continuous dedication to this cause and especially to Caroline Nokes MP and Alex Sobel MP. Caroline and Alex have put party politics aside to chair this APPG so diligently and have lent us the full support of their team, who have tirelessly worked behind the scenes organising correspondence, meetings and our events at Parliament. Thank you.


I would like to thank my fellow panel members who have provided such valuable pro bono expertise and support to our APPG including peer reviewing and helping to formulate our reports and recommendations. A special acknowledgement also to Sue Flood whose dedication and commitment to victims has been fearless and unwavering and to Sir Stephen Timms for his meticulous examination of our proposals and evidence.


I would finally like to thank sincerely the courageous victims who so bravely stepped forward to give evidence and also the numerous expert witnesses (tax advisors, lawyers, financial advisors and investigators amongst others) who participated in our round table discussions to debate our proposed reforms. I would also like to thank students at Oxford University’s Research Consultancy for their pro bono assistance in researching best practice overseas some time ago- which helped inform our recommendations.


I have a vested interest in this issue. I’ve lived through these systemic issues myself. My motivation however, in helping to co-found this APPG is to help safeguard future victims and their families and to support those families currently in crisis and struggling to deal with the aftermath of fraud. The scale of the change needed is significant. It will rely on long-term political will, strong leadership and appropriate scrutiny of our current practices and systems. We know only too well that lives depend on it.


Whilst we made good progress in 2023, it is not the end and we are exploring every avenue to tackle these issues and ensure that our system prevents and punishes this shattering crime, and that investment and pension fraud victims are treated fairly and appropriately and get the support and justice they deserve.


On behalf of everyone at the Investment Fraud APPG I want to end by wishing all our APPG supporters a happy, healthy and peaceful Christmas & New Year. Only together can we succeed and we have much to be proud of. Thank you for your support in 2023. 


Carly Barnes-Short


Click here to view the APPG on Investment Fraud’s First Inquiry Report.

8 August 2025
By Sue Flood When you are fighting injustice and taking on a government agency like HMRC, compassion can be hard to find. For victims of financial abuse, pension scams, and investment fraud, compassion isn’t just a nice-to-have — it’s a lifeline. And I know this because I’ve lived it. I’m one of them. Over the last several years, I’ve had the privilege — and the heartbreak — of walking alongside hundreds of victims who’ve been financially and emotionally devastated by fraud and scams. Together with two incredible women, Carly Barnes-Short and Margaret Snowdon OBE, I’ve fought to make sure these victims are seen, heard, and treated with fairness and dignity. Our campaign is not just about fixing systems. It’s about giving people hope when everything else is being taken from them. Victims from Every Walk of Life This isn’t just a story about pensions or investment schemes — it’s about people. Nurses, firemen, athletes, single mums, retired professionals. People from every walk of life who’ve fallen prey to sophisticated scams or been left high and dry by broken systems. What they share is trauma, confusion, and often shame — and far too many are suffering in silence. One of the hardest truths is that this could happen to anyone. I know that, because it happened to me. When victims come to us, they're often at breaking point — emotionally, financially, and sometimes even physically. I’ve personally taken calls from people on the brink of suicide because of HMRC. Carly has too. And I can honestly say that those late-night calls, those heartbreaking conversations, are what fuel this campaign more than anything else. Carly Barnes-Short: The Strategic Heartbeat It’s a privilege to work alongside Carly. As co-chair of the Investment Fraud Special Advisory Committee, she is the strategic powerhouse behind so much of what we’ve achieved — and one of the most compassionate people I’ve ever met. She was already campaigning tirelessly for victims in the world of sport when she learned about what was happening in the pensions space. Without hesitation, she stepped up to help us too — and has never looked back. Carly is the reason we’ve secured key meetings in Westminster and was the driving force behind the Investment Fraud APPG inquiry. She drafts legislation, leads events, builds relationships, and keeps the pressure on — all while juggling her legal career and family life. She's brought serious figures into the campaign like Lord Mann and Simon Myerson KC. Our MPs respect her. They listen to her. And most importantly, they act because of her. She leads much of the dialogue with government ministers and policymakers, always with empathy and professionalism, and sees every victim as a person first — not a case, not a number, but a human being in need of support and help. She stays up late and works on this with me every day. When things get overwhelming or we hit another wall, Carly finds another way forward. She never stops. Her work often goes unseen, but I see it — and I am endlessly grateful. Carly gives me the strength to keep going, especially on the hardest days. Margaret Snowdon OBE: The Voice of Integrity Margaret brings a level of experience and wisdom that gives our campaign real weight and credibility. She commands respect in every room she enters — not through volume, but through quiet authority and integrity. Margaret has been a consistent and principled voice for pension victims for many years, calling out institutional failure and championing fair treatment long before it was fashionable to do so. Her calm approach is a vital counterbalance to the raw emotion this work often brings. She reminds us that we can change the law — because she’s made it happen before. Margaret doesn’t need to shout to be heard. Her presence says everything. My Own Journey: From Victim to Campaigner I never set out to lead a campaign with Carly and Margaret. Like many others, I found myself here because I had no choice. As a fraud survivor, I’ve felt the devastation firsthand. And I couldn’t walk away knowing others were going through the same — or worse — with no one to turn to. With the help of my daughters, close friends, and an incredible group of volunteers, we’ve built a grassroots engine that powers media outreach, peer support, and public pressure. We’ve faced online abuse, institutional resistance, and days where the emotional toll is crushing. But we carry on — not for ourselves, but for the people counting on us. Behind the Scenes While much of our campaign plays out in public — in Parliament, the media, or out on the streets — so much of the real work happens behind the scenes. And I want to pay tribute to the people who help me and Carly keep this engine running day in and day out: my daughters, their close friends, and the brilliant Barry Lee Parker of Piston Design. This campaign simply wouldn’t function without them. My daughters and a small circle of trusted friends have worked tirelessly on everything from managing our social media, building content, updating the website, and keeping us organised. They’ve done this around full-time jobs, families, and their own lives — often late into the night. Together, this team has helped us not only build our online presence, but also organise vital moments like the parliamentary summit — which was a major milestone for our movement. They juggle logistics, liaise with media, and make sure that the front-line work Carly, Margaret, and I are doing can actually happen. Grassroots campaigns like ours are built on heart, hard work, and human connection. Thank you, from the bottom of my heart. What We've Achieved So Far Together, we have: Launched a parliamentary inquiry into investment fraud and unfair tax treatment Built a cross-party alliance of MPs, legal experts, and financial leaders Supported hundreds of victims with pro bono advice, peer support, and advocacy Organised the “Enough is Enough” march and secured meetings with HMRC and Treasury officials Pushed for reforms that prioritise compassion and affordability over bureaucracy But we’re not done. Despite all our hard work and support, the government isn’t listening — and until they do, we will keep fighting. We won’t stop until the Government, Treasury, and HMRC finally wake up to the reality of what victims are facing. Lives are on the line — and they need to start listening. I will keep fighting until they do. To Our Supporters: Thank You This campaign is nothing without the hundreds of people who’ve stood beside us — from MPs and journalists to volunteers and fellow victims. You’ve shown that compassion is contagious, and that together, we are stronger. Final Thoughts: Why We Keep Going People often ask how we do it. The truth is: we don’t really have a choice. Not when we know lives are at stake. This fight is about justice, yes — but it’s also really about compassion. Compassion for people we’ve never met, but whose stories have become part of us. To Carly and Margaret: thank you. For all your hard work without charge, for giving us hope, and most of all your compassion. You’re helping save lives. And to every victim out there: You are not alone. We see you. We hear you. And we won’t stop fighting for you. We are all in this together, and we have some great people behind us who really care. Compassion is not a weakness — it’s the greatest strength of all, and it means everything to victims. We just need HMRC and the Government to start showing it to our victims now too.
8 August 2025
According to media reports, HMRC is under fire for allegedly inflicting serious harm on vulnerable taxpayers—particularly those who have experienced financial abuse. Tax and business advisory firm Blick Rothenberg has raised urgent concerns over HMRC’s treatment of individuals caught in complex or abusive financial situations. Partner Fiona Fernie highlighted multiple cases where vulnerable taxpayers were subjected to prolonged inquiries, lack of empathy, and crushing penalties—even in situations where individuals were unaware of the income being questioned. It was reported that in one harrowing case, a woman whose husband secretly deposited and removed funds from their joint account was pursued for failing to notify HMRC of the income—despite having no knowledge of it. The severe stress led her to attempt suicide. Yet HMRC reportedly took months to conclude the inquiry and ruled she had "no reasonable excuse," while demanding backdated interest and penalties spanning 20 years.  “HMRC must improve their understanding of financial abuse and mental health conditions,” said Fernie. “They need to act with compassion, not further punish those who are already struggling.” Read the full article here: Dorset Echo – HMRC accused of causing undue harm to vulnerable taxpayers 🔍 Why This Matters to Our Campaign This article strongly reinforces the concerns at the heart of the Investment Fraud HMRC Campaign. Victims of investment and pension fraud are often re-traumatised by HMRC’s aggressive pursuit of tax liabilities, even when they were misled or manipulated into fraudulent schemes. This case shows the issue extends beyond investment scams—highlighting how financial abuse, mental health conditions, and institutional misunderstanding are leading to severe emotional, financial, and even life-threatening consequences for taxpayers. 📣 Our Message to the Government The Government must act now. This is not just about isolated failures—it’s a systemic issue. We are calling for: A clear, compassionate policy for victims of fraud and financial abuse HMRC to stop penalising victims and instead pursue the actual perpetrators Full alignment with the Victims’ Code of Practice Better staff training on financial abuse and vulnerability If you’ve been affected by HMRC’s treatment after being defrauded, we urge you to share your experience with us as we continue to campaign for justice and reform.