For the initial round of legal action we have raised nearly £300,000; far in excess of what we hoped to get.
Over 25% of this has come from a few generous donators who have contributed large amounts.
Costs have been a little more expensive than hoped, at £240,000, partly due to the greater than expected costs in Scotland.
The £240,000 has been paid out to the solicitors.
A substantial portion of the amount is held by the solicitors to cover HMRC's potential costs.
The remaining money will be set aside for legal costs, such as FTT action with regard to open years and rebuttal of any HMRC action or used for the next round of legal action.
These figures give us some idea of what future costs will be. Given the circumstances around COVID-19 people have been generous much beyond expectation.
Thank you for supporting the best remaining chance that we have of defeating the Loan Charge - let's make everyone's contribution count!
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Any donations are used to pay legal costs only.
All funds for the initial round of the action have now been committed.