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  1. #1

    Contractor Among Contractors


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    Default Wherea are the missing 30,000?

    The 2019 retrospective tax charge is said to be applicable to 40,000 people (HMRC figure).

    It has to be assumed that this is the count of those who have not so far settled.

    We have done a quick calculation of how many clients each of the known agents still active in this sector might have.

    Being generous, we count around 10,000.

    That leaves 30,000 people who either:
    • have no idea what is coming (perhaps HMRC has forgotten them)
    • know what is coming but are prepared to tough it out
    • cannot afford representation

    Worryingly, HMRC calculate that the tax at stake averages around 50k per person.

    Our client base is showing an average considerably more than that.

    If the 30,000 are all at less tax at stake than the average that may explain why they have no agent (cost being a key feature).

    However I fear that there is going to be significant blood spilt here which HMRC will carefully step around claiming that it's nothing to do with them.

  2. #2

    Nervous Newbie


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    Default

    I would guess that the vast majority are burying their heads in the sand and understand nothing or very little of their predicament. i know from my own experience that unless you make an effort to particularly follow this topic it's actually pretty easy to remain ignorant. Plenty of people were just told by their accountants/clients to use these schemes so were really not clued up on the details, just trusting that they had been given sound advice by professionals.

    In a way, those who have been contacted with enquiries are the lucky ones, as it has forced many too take notice of the changes and at least prepare them for what is to come.

    I can well imagine that if I had not got the dreaded brown envelope, I might well have remained in blissful ignorance, and i'm sure there are many in the same situation.

  3. #3

    Still gathering requirements...


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    Hi.

    Are you saying you have had a letter regarding the 2019 loan charge? If yes, did it have any estimates/figures?

  4. #4

    Nervous Newbie


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    Quote Originally Posted by demby View Post
    Hi.

    Are you saying you have had a letter regarding the 2019 loan charge? If yes, did it have any estimates/figures?
    No, but it was what made me realise there were going to be issues down the line.

  5. #5

    Nervous Newbie


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    Default

    Quote Originally Posted by webberg View Post
    • have no idea what is coming (perhaps HMRC has forgotten them)
    I'll cast a vote for that - I might be one of the missing 30,000.

    I used Sanzar in 08/09. I'm genuinely hazy on the details (my recollection doesn't match what bit of paperwork I can track down). However, it was all properly disclosed in the tax returns.

    Seven years later - last week, in fact - my accountant gets a letter. It's not a letter announcing an investigation or anything. It's a letter suggesting to the firm what advice they might give to their serially-tax-avoiding-clients. When the firm asked HMRC who these clients are, they named me. I'm quite confident that the only scheme i used was that one, for three months max, and it was seven years ago.

    So far as I know, I'm not being investigated. If it turns out that I am then it will be news.

    Perhaps the other 30,000 are in the same boat?

    Cheers
    Dozy

  6. #6

    TripleIronDad

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    HMRC have lied. They did it with the double taxation scheme. Then they can go to parliament, mislead them, and do as they wish.
    Give me ambiguity or give me something else.

  7. #7

    Contractor Among Contractors

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    Default

    Quote Originally Posted by BrilloPad View Post
    HMRC have lied. They did it with the double taxation scheme. Then they can go to parliament, mislead them, and do as they wish.
    ^^^^^^^^^
    Absolutely this
    .
    Any doubters need to understand that the person behing this anti-contractor vendetta is, to put it bluntly, a textbook psychopath.
    Psychotpaths do not have any qualms using whatever means enabling them to get their way. Lying is to psychopaths as breathing is to the general population.
    So expect reality to be twisted utterly beyond recognition....and plan accordingly.


    Gauke performs magic trick, transforms 847 responses into 20 (and lies to Parliament in the process?)

    How often does your Government lie to you?

    Duplicity

    Etc etc.

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