Originally posted by AtW
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2019 tax charge - consultation preparation
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Originally posted by Whysoserious View PostNot one single loan scheme has failed to date.
Pending appeal at the Supreme Court of course, but it was deemed to fail at a lower court.Comment
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Originally posted by centurian View PostMurray Group...
Pending appeal at the Supreme Court of course, but it was deemed to fail at a lower court.Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
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OK firstly to quote directly from the published judgement on the case..
"with the result that the obligation to deduct tax under the PAYE system fell on the employer who made such a payment.”
If the Murray decision remains unchanged, the tax liability therefore falls on the employer, not the employee.
Secondly, three QCs in this area have gone on record pulling apart the decision to award in favour of HMRC. One of them commented that the decision was largely based on New Zealand Tax Law, not UK Tax Law. To name only one of the many holes found in the judgement.
It is therefore generally accepted that the decision will be overturned in favour of Murray at the Supreme Court.
HMRC know this, hence the distinct lack of celebration from the 'victory' at the Court of Session.Comment
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Originally posted by Whysoserious View PostIt is therefore generally accepted that the decision will be overturned in favour of Murray at the Supreme Court.Comment
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Originally posted by Iliketax View PostI struggle big time on your 'generally accepted' point. Many of those who've commented have a vested interest in maintaining that view. After the Supreme Court's judgement on UBS, I would say that the odds of Murray Group winning are small. Not vanishingly small but small nonetheless.Comment
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Originally posted by Whysoserious View PostNot one single loan scheme has failed to date.
Specifically HMRC will get loan users with new tax and lets not forget APNs and years of anxiety, divirces, bankrupcies - how can you say loan schemes did not fail for the buyers???Last edited by AtW; 11 May 2016, 23:26.Comment
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Originally posted by Whysoserious View PostI struggle to see how the UBS case has any correlation to EBT and loan schemes.
So turning to loans, I struggle to see how paying someone via a trust and loan (as opposed to paying them with normal a normal salary/bonus) has any business or commercial purpose. In other words, getting cash to individual clearly has a business purpose. But doing it via a trust and a loan?
And the FTT is already applying the UBS decision in a completely different context to a bonus scheme, for example:
Originally posted by FTT128 In our judgment, these authoritative comments are of general application to the construction of tax legislation where (as in this appeal) avoidance of tax is sought to be achieved by the use of a provision apparently providing for a tax exemption, by its application to ‘transactions having no connection to the real world of business’ such as we find the transactions by which the Partnership arranged to receive the Helios dividends to have been.Originally posted by Whysoserious View PostIWe shall just have to wait and see who is right and who is wrong.Comment
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Originally posted by EBTContractor View PostWhen is the Murray vs HMRC decision due?Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k.Comment
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