Contractor UK Bulletin Board - View Single Post - BN66

DonkeyRhubarb · 1st May 2008, 09:24

What Im curious about is the term used in the BN66 "property companies". Property doesnt come into the equation so who is the target?

My suspicion is that this is a smokescreen, and that Treasury/HMRC are trying to obscure the extent to which they have known about the alleged DTA abuse. If they mentioned the contractor scheme then they would have to admit that they have known about it since early 2003 (over 5 years).

If you read the Treasury Committee Ninth Report, Treasury officials are claiming that they didn't become aware of the abuse until after the disclosure rules were introduced in Budget 2004 ie. the first tax returns they would have seen would have been Jan 2005.

This probably does affect other groups like the property industry, as MTM and others offer various schemes. However, I know HMRC intend to use BN66 to target our "ir35 scheme" because I've got a letter from them stating precisely that.

1st May 2008, 09:24	#43
DonkeyRhubarb Fingers like lightning Join Date: Mar 2008 Posts: 634	For neilawuk What Im curious about is the term used in the BN66 "property companies". Property doesnt come into the equation so who is the target? My suspicion is that this is a smokescreen, and that Treasury/HMRC are trying to obscure the extent to which they have known about the alleged DTA abuse. If they mentioned the contractor scheme then they would have to admit that they have known about it since early 2003 (over 5 years). If you read the Treasury Committee Ninth Report, Treasury officials are claiming that they didn't become aware of the abuse until after the disclosure rules were introduced in Budget 2004 ie. the first tax returns they would have seen would have been Jan 2005. This probably does affect other groups like the property industry, as MTM and others offer various schemes. However, I know HMRC intend to use BN66 to target our "ir35 scheme" because I've got a letter from them stating precisely that.