New All-Party Parliamentary Group Committee on Investment Fraud Launched to Support Victims and Drive Reform
20 March 2025

A new All-Party Parliamentary Group (APPG) Committee on Investment Fraud has been launched this week, spearheaded by a cross-party group of MPs and led by expert victim campaigner and lawyer Carly Barnes-Short.


The rise of investment and pension fraud is rapidly becoming one of the most pressing issues facing UK investors and pension savers. Victims often find themselves fighting against powerful financial institutions and complex tax liabilities, with little recourse for justice or financial redress. This APPG Committee aims to put an end to this by amplifying the voices of victims and pushing for much-needed reforms.


Carly Barnes-Short, a leading campaigner for victims of financial fraud and an experienced lawyer, has been at the forefront of driving the initiative. Speaking on the launch, she said:


“I am very proud to be co-chairing this vital new APPG. For too long, victims of investment and pension fraud have been left in the shadows, struggling against a broken system. Our mission is to ensure these victims receive the support, recognition, and protections they deserve. We will challenge systemic failures in law enforcement, taxation, regulation, and government responses to fraud, while pushing for reforms that will better safeguard investors and pension savers.”


The APPG Committee is made up of MPs, experts, and victim advocates committed to addressing the growing threat of investment fraud. Its primary goals include:


  • Supporting victims of investment and pension fraud in their fight for justice.
  • Challenging the role of law enforcement, HMRC, and financial institutions in failing to adequately protect victims.
  • Advocating for stronger regulations to prevent fraudulent schemes and financial abuse.
  • Investigating long-standing fraud issues and heavily targeted sectors to create lasting reforms.


The group will also work closely with the wider Investment Fraud & Financial Services APPG to promote transparency and accountability in the financial services sector.


Commenting on the launch, one of the founding MPs said:


“We are witnessing an alarming increase in investment fraud cases, which devastate the lives of ordinary people. This APPG provides a platform for those affected to have their voices heard in Westminster and work towards a financial system that is both fair and secure. I’m proud to be part of a group that is focused on much needed reform.”


The new APPG Committee will be operating with a focus on creating systemic change. It will provide a vital channel for expert briefings, parliamentary seminars, and campaigns, ensuring victims’ voices are central in shaping future policy.



This important initiative is expected to drive significant reforms in the UK’s approach to financial crime and fraud, delivering justice and better support and protection for thousands of victims across the country.

“Another Post Office Scandal?”: Parliament to Host Landmark Summit on Investment Fraud and HMRC Injustice

7 May 2025
Westminster – 12 May 2025 This event marks the official launch of the Investment Fraud Committee—a new initiative sitting within the APPG on Investment Fraud and Fairer Financial Services. At the centre of the summit is the launch of the committee’s first national initiative: ‘Fair Tax for Fraud Victims’ —a campaign calling for urgent policy change to stop the double victimisation of historic victims who were deceived by third party professional advisors, only to be penalised by HMRC with unfair tax demands, interest, and penalties. Pension Savers and Professional Athletes in the Spotlight The IFC will place a particular focus on two of the groups most heavily impacted: pension savers and professional athletes, who have been aggressively targeted by unscrupulous advisors and scheme promoters and are now facing devastating financial and mental health consequences. The campaign will challenge the system that has allowed perpetrators to walk free while innocent victims are left bankrupt and traumatised. Summit Goals: • Launch the Investment Fraud Committee and its ‘Fair Tax for Fraud Victims ’campaign • Demand an immediate inquiry into HMRC’s treatment of fraud victims • Challenge the false narrative that paints victims as “tax avoiders” rather than victims of fraud • Call for a fair settlement scheme, urgent safeguards, and the creation of an appropriate tax framework • Oppose the expansion of HMRC’s powers without new protections for victims • Raise national awareness of the mounting toll—financial, legal, and psychological—facing victims Confirmed Speakers Include (in alphabetical order): • Andy Agathangelou, Founder, Transparency Task Force • Carly Barnes-Short, Co-Chair, Investment Fraud Committee • Sarah Bool MP, Co-Chair, Investment Fraud Committee • Andy Cole, Former England & Manchester United Footballer • Jeremy Cornford, Financial Advisor & Victim Advocate • Brian Deane, Premier League Footballer & Victim Advocate • Sue Flood and Kim Goldsmith, Victim Representatives appearing alongside numerous victims • Professor Nigel Harper, Former HMRC Official • Lord Mann, Former Treasury Select Committee Chair • Simon Myerson KC, Leading Tax and Fraud Barrister • Danny Murphy, Former England & Premier League Footballer • Baroness Newlove, Victims ’Commissioner • Margaret Snowdon OBE, Chair, Pension Scams Industry Group • Anthony Stansfeld, Former Police & Crime Commissioner • Michael Thomas, Former Professional Footballer Many of the victims—particularly those in the pension and sports sectors—were deceived into complex investment schemes and so called pension liberation schemes by rogue advisors. Decades later, they find themselves under investigation by HMRC, facing unaffordable tax bills including disproportionate interest and penalties. As in the Post Office Horizon and Loan Charge scandals, this summit will reveal how government inertia, flawed systems, and institutional denial have created another national injustice. Event Details: • Title: Another Post Office Scandal? Ten Years of Injustice for Investment Fraud Victims vs HMRC • Date: Monday, 12 May 2025 • Time: 16:00–19:00 • Location: UK Parliament – House of Commons Committee Room CR20 • Hosted by: The Investment Fraud Committee (APPG on Investment Fraud & Fairer Financial Services) • Supported by: The Transparency Task Force Media interviews and photography available from 18:30 onwards. Media Contact: Sue Flood Victim & Media Representative The Investment Fraud Committee sue.flood58@gmail.com  Social Media: @investfraudcom

Committee Co-Chair Carly Barnes-Short Contributes to TaxWatch Report on the Regulation of the Tax Advisory Market

31 March 2025
Westminster, April 2025– Carly Barnes-Short, co-chair of The Investment Fraud Committee, was recently interviewed by TaxWatch for their recent report, Regulation of the Tax Advisory Market: The Effect of Non-Regulation and the Case for Change. The report highlights the serious risks posed by the minimal regulation in the UK tax advisory market, revealing how this lack of oversight can lead to significant economic harm, including investment fraud and misleading advice to taxpayers. One of the key findings of the report is the alarming impact that unregulated or poorly regulated tax advisers can have on taxpayers. Specifically, fraudulent tax advisers have caused widespread financial damage to individuals and businesses, particularly in the realm of research and development (R&D) tax relief claims, where one-quarter of claims were found to be erroneous or fraudulent in 2020-21, costing the UK economy over £1 billion in lost tax revenue. In her interview with TaxWatch, Carly emphasised the need for stronger regulation to protect taxpayers from investment fraud Carly said:  "Investment fraud victims often face not only the financial burden of fraudulent advice but also the emotional and psychological toll of feeling betrayed by trusted professionals. In the current tax advisory market, individuals are exposed to substantial risks when tax advisers operate outside of a regulatory framework. This creates a situation where fraudsters and can exploit a lack of oversight to mislead and defraud taxpayers, resulting in devastating financial losses. A more regulated, transparent system would better protect investors and ensure the integrity of the market." The TaxWatch report calls for a new independent regulatory body for tax advisers in the UK, ensuring that all practitioners are properly qualified and monitored. This would address the gaps in consumer protection, prevent misleading tax claims, and reduce the significant economic harm caused by fraudulent or erroneous advice. Carly further explained:  "Without strong oversight, we leave the door open for unethical advisers to exploit vulnerable taxpayers. A new regulatory system would help prevent such exploitation by providing clear standards for tax advisers, better protecting investors, and enhancing consumer confidence. This is not just about protecting individual taxpayers; it's about safeguarding the UK’s economy from billions of pounds in lost tax revenues." The report highlights a tax advice market that operates like a regulatory Wild West, leaving individuals and businesses vulnerable to poor or exploitative advice.The TaxWatch report also draws on international models, including Australia’s robust regulatory approach, which combines mandatory registration, effective enforcement, and real-time data sharing, as a blueprint for potential reforms in the UK. Based on its findings, TaxWatch recommends the creation of an independent regulatory body with appropriate statutory powers that would: Require registration and minimum qualification standards for all tax advisers Implement robust monitoring of compliance with professional standards Enable effective data sharing with HMRC to identify emerging risks Include proportionate enforcement powers Enhance consumer protection through accessible complaints processes and improved safeguards The report concludes that these reforms would create a regulatory environment that better protects taxpayers while supporting qualified tax advisers in their practice. Effective regulation could help reduce economic impacts on individuals and businesses resulting from poor advice, while also addressing aspects of the tax gap related to non-compliance. TaxWatch urges the government to prioritise these reforms, noting that the billions lost to non-compliance facilitated by unregulated advisers represent a significant opportunity to strengthen public finances while protecting vulnerable taxpayers from exploitation and getting into ruinous tax debt with HMRC.