BN66 - Time to fight back!!!

[expat]

A relation of mine had a tax charge of £40k put on them and HMRC didn't give a damn how he got the money, they just wanted it there and then. They saw that he owned a reasonable house and even had a small investment property - so their view was that he could sell any of it to pay them the money NOW. There was no discussion, no negotiation, end of.

HMRC don't care about your personal circumstances - they are the most evil of Labour's horde.

What, they're all love and peace under Tory governments??

[ChimpMaster]

Smalldog, no it didn't go to court. I guess they just wanted it over and done with.

I sincerely hope you don't have to go to court either.

[BrilloPad]

Montpelier discussed the submission of the partnership accounts and have confirmed that they will have all the accounts in by the end of July. at that point the IR will start to issue assessments to people under enquiry for the outstanding amounts of tax due. These assessments will be appealed against and postponement requested. The appeal will be on the basis that the demand will be contrary to Human Rights.

Meanwhile the Judicial Review will still go ahead but montpelier thinks that the finance bill will still go through because there is no chance the judicial review will happen before the finance bill becomes law.

These are both possible - but the courts should be quicker.

HMRC confirmed they have not been approached by Tim Warr and no settlement or otherwise has been discussed.

[smalldog]

and if all that doesnt yield any fruit they will then have to take individuals to court. Blimey are they really prepared to go thru all that!!

[malvolio]

and if all that doesnt yield any fruit they will then have to take individuals to court. Blimey are they really prepared to go thru all that!!

They spent £750k pursuing Arctic for a shade over £7000 of back tax, so yes, I think they probably are.

[smalldog]

doesnt make a lot of sense really does it....hey ho...

[DonkeyRhubarb]

More info from MontP

Just to pick up on a couple of points Brillo made...

I have just go off the phone with MontP and the reason they are still pressing ahead with the JR, even though it won't stop the finance bill, is because this will be a quicker way of getting into court than just going through the appeals process which would involve General/Special commissioners hearings and could take many months. In effect, appealing against the tax assessments is just a formality to postpone the issuing of tax demands.

MontP are conscious that people are getting very worried and impatient, and that is why they want to get this in front of a court as soon as possible, but this still takes time. The JR will be held at the High Court, and their best estimate is that this will happen within 2-3 months.

My own view on this is that it is worth waiting for the JR. However, I plan to protect myself from further interest penalties by making a tax deposit with the CTD scheme.

[ContractIn]

Just to pick up on a couple of points Brillo made...

I have just go off the phone with MontP and the reason they are still pressing ahead with the JR, even though it won't stop the finance bill, is because this will be a quicker way of getting into court than just going through the appeals process which would involve General/Special commissioners hearings and could take many months. In effect, appealing against the tax assessments is just a formality to postpone the issuing of tax demands.

MontP are conscious that people are getting very worried and impatient, and that is why they want to get this in front of a court as soon as possible, but this still takes time. The JR will be held at the High Court, and their best estimate is that this will happen within 2-3 months.

My own view on this is that it is worth waiting for the JR. However, I plan to protect myself from further interest penalties by making a tax deposit with the CTD scheme.

Thanks Donkey and Brillo for the update.

On a couple of points

1 I know difficult to assess but how confident are MontP in getting a result via the JR? How will other companies be challenging this? Surely there cannot be multiple JRs on the same issue, so will they join forces?

2 CTD - What is the best way to assess what your liability is for the amount to cover, I have previously posted 38%. As a precautionary measure will MontP be advising existing and past members what our liability would be?


Thanks

[smalldog]

surely if the assessments get postponed it stops the clock on interest as its in dispute?

PS - Im not paying them a bean or getting a CTD til I have been thru the courts in person if it comes to it....each to their own of course...

The reason Im not getting a CTD just yet is this, I'd have to borrow about £100k to make any difference from a finance company:

£100,000 60months @ 7.9% = monthly repayment £ 2,011.79

and if MontP win I would have to give all the money back with an early loan repayment penalty so not a lot of options....

[portseven]

Just joining this thread to say that I am watching with interest.

I am with another IOM scheme that was recommended to be by my agency. Have not had any letters from HMRC yet, except the one saying that they know I am on the scheme.

Have been with the scheme since Sept 2006.

The scheme have given me the wording to put in my SATR and essentially it is the same as last year except for a sentence saying they are aware of BN66 and they think it isn't valid because of a clause in the Human Right's act.

My view is that I am going to sit tight while I am on this gig, then once I get another I am moving off the IOM scheme (probably go Ltd). Unless HMRC push me sooner. Don't really want to move things mid-contract.

Is anyone aware of any statements by the IOM government on BN66?