No To Retro Tax - Ongoing battle against S58 FA2008

[Basher]

The first is just to remind everyone to make sure their profile on the website is up to date.

This will be followed next week by the main newsletter with full details of TAA (the agency argument/George).

Excellent news !! and just in time to offset any bad-news brown letters that will no doubt be sent to arrive just before the long weekend.

Go Go No to Retro !!

[Ninja]

Same old, same old....

From yesterday's Hansard

Pamela Nash (Labour, Airdrie and Shotts) 25th March 2015
To ask Mr Chancellor of the Exchequer, how many BN66 cases brought to tribunal led to (a) prosecution, (b) acquittal and (c) out of court settlements in each of the last five years.

Andrea Leadsom (The Economic Secretary to the Treasury 25th March 2015)

UK residents are taxable on their worldwide income wherever it arises including situations where it arises by way of foreign partnerships. Budget Note 66 (BN66) did not change this position, but announced new legislation to put this position beyond doubt and to close down a wholly artificial tax avoidance scheme. This scheme involved foreign partnerships comprised of foreign trustees that sought to exploit a perceived loophole.

As section 58 of the Finance Act 2008, the legislation announced by BN66, retrospectively clarified existing legislation its introduction had no effect on any taxpayer’s tax position.

The information is not available to answer Question 225153. HMRC records are not collated so as to aggregate all enforcement actions taken in respect of all taxpayers.

The information is not available to answer Question 225154. HMRC systems do not separately identify cases with status issues from the generality of Section 58 cases.

Tax Avoidance: 25 Mar 2015: Hansard Written Answers - TheyWorkForYou

[TAF4]

From yesterday's Hansard

Pamela Nash (Labour, Airdrie and Shotts) 25th March 2015
[I]To ask Mr Chancellor of the Exchequer, how many BN66 cases brought to tribunal led to (a) prosecution, (b) acquittal and (c) out of court settlements in each of the last five years.

Para-phrasing the answer 'We don't know!'


Does anyone know what prompted a Scottish Labour MP to ask this question at this time? Is she trying to impress a constituent that she cares? (Oh yes, she really does).

[screwthis]

Para-phrasing the answer 'We don't know!'

More like "Go f yourself!"

[nevergiveup]

More like "Go f yourself!"

Isn't all this irrelevant now anyway thanks to George?

[PlaneSailing]

hypocrite

From yesterday's Hansard

Pamela Nash (Labour, Airdrie and Shotts) 25th March 2015
To ask Mr Chancellor of the Exchequer, how many BN66 cases brought to tribunal led to (a) prosecution, (b) acquittal and (c) out of court settlements in each of the last five years.

Andrea Leadsom (The Economic Secretary to the Treasury 25th March 2015)

UK residents are taxable on their worldwide income wherever it arises including situations where it arises by way of foreign partnerships. Budget Note 66 (BN66) did not change this position, but announced new legislation to put this position beyond doubt and to close down a wholly artificial tax avoidance scheme. This scheme involved foreign partnerships comprised of foreign trustees that sought to exploit a perceived loophole.

As section 58 of the Finance Act 2008, the legislation announced by BN66, retrospectively clarified existing legislation its introduction had no effect on any taxpayer’s tax position.

The information is not available to answer Question 225153. HMRC records are not collated so as to aggregate all enforcement actions taken in respect of all taxpayers.

The information is not available to answer Question 225154. HMRC systems do not separately identify cases with status issues from the generality of Section 58 cases.

Tax Avoidance: 25 Mar 2015: Hansard Written Answers - TheyWorkForYou

Do as I say, not as I do.

Revealed: how City minister Andrea Leadsom used controversial trusts to reduce her potential inheritance-tax bill - UK Politics - UK - The Independent

[DonkeyRhubarb]

Isn't all this irrelevant now anyway thanks to George?

Yes. And what a dumb ass question anyway. Since when do tribunals prosecute or acquit people.

[Scotty15]

Whether she care or not is irrelevant, but the Scottish Government (Scottish HMRC) will be responsible for collecting taxes from Scottish Citizens from April 2016, a question which I have asked my own MSP, "who do we pay (if we have too) Scottish HMRC or English HMRC?"

Para-phrasing the answer 'We don't know!'


Does anyone know what prompted a Scottish Labour MP to ask this question at this time? Is she trying to impress a constituent that she cares? (Oh yes, she really does).

[SantaClaus]

Do as I say, not as I do.

Revealed: how City minister Andrea Leadsom used controversial trusts to reduce her potential inheritance-tax bill - UK Politics - UK - The Independent

Maybe that's the question Pamela Nash should have asked the "right honourable" lady.

[travellingknob]

That's 50% more than I have.

Yes but its about total net worth versus bankruptcy rather than lack of savings.