BN66 - Time to fight back!!!

[DonkeyRhubarb]

malvolio,

So do I. But if you do win (by no means certain), look for a proper corrective measure to be in next year's Finance Bill. OK, you can't be done for back tax, but it would kill the scheme off.

The scheme is already dead going forward. The Finance Bill contained 2 separate measures, one to "clarify" the rules retrospectively and the other to stop further abuse from March 2008.

I suspect that they did this to hedge their bets just in case the retrospective clause got thrown out.

I am no longer with Montpelier so I can't comment on what they are doing now.

[BrilloPad]

I believe that Montpelier scheme has changed - but I am still awaiting full details.

I still reckon the retrospective bit will not succeed.

[zippo]

Dare I hope

I've been in contact with someone from the BN66 site recently (yes TW) and he is in the process of coming up with a scheme to come clean with Hector, pay up on account, with the possibilty of a 'discount' (details not yet clarified)... what do you folks think, shall I hang fire and see how it turns out, or risk paying up?

Poppy01

It seems as though I'm in the same boat as you, "do I or don't I". Would be very interested in the response you get from the people negotiating with Hector. I don't really know who you mean by TW but I presume it's someone from the http://www.bn66.co.uk web site.

Any body else have any thoughts on this ?

[DonkeyRhubarb]

I've been in contact with someone from the BN66 site recently (yes TW) and he is in the process of coming up with a scheme to come clean with Hector, pay up on account, with the possibilty of a 'discount' (details not yet clarified)... what do you folks think, shall I hang fire and see how it turns out, or risk paying up?

Poppy01

It seems as though I'm in the same boat as you, "do I or don't I". Would be very interested in the response you get from the people negotiating with Hector. I don't really know who you mean by TW but I presume it's someone from the http://www.bn66.co.uk web site.

Any body else have any thoughts on this ?

TW is Tim Warr. Just so you are aware, he is an associate of Alan Jones and Giles Morris who were behind the www.ir35amnesty.com web site. Jones and Morris worked for MTM in the beginning but then fell out with Gittins & Co, and left to form the rival Suo Motu scheme. They shut the scheme down after about a year, leaving all the contractors high and dry, and I believe it was Tim Warr who was involved in negotiating the final settlement with the Revenue.

Because of Warr's association with Jones & Morris, I'm not sure I would entirely trust his motives. These guys have been involved in some very sharp practise over the past few years.

In the end, it's your decision. But ask yourself this. Why would Hector offer you a discount now when he's just a matter of weeks away from getting his retrospective legislation passed?

My guess is that in return for the discount, you will be made to surrender your appeal, which means even if Hector loses the case you would not be able to get your money back.

Before you make any decision, I would urge you to speak to Montpelier.

[BrilloPad]

he is in the process of coming up with a scheme to come clean with Hector, pay up on account, with the possibilty of a 'discount' (details not yet clarified)... what do you folks think, shall I hang fire and see how it turns out, or risk paying up?

personally I intend to hang fire - but if you decide otherwise please keep us updated.

[poppy01]

TW is Tim Warr. Just so you are aware, he is an associate of Alan Jones and Giles Morris who were behind the www.ir35amnesty.com web site. Jones and Morris worked for MTM in the beginning but then fell out with Gittins & Co, and left to form the rival Suo Motu scheme. They shut the scheme down after about a year, leaving all the contractors high and dry, and I believe it was Tim Warr who was involved in negotiating the final settlement with the Revenue.

Because of Warr's association with Jones & Morris, I'm not sure I would entirely trust his motives. These guys have been involved in some very sharp practise over the past few years.

In the end, it's your decision. But ask yourself this. Why would Hector offer you a discount now when he's just a matter of weeks away from getting his retrospective legislation passed?

My guess is that in return for the discount, you will be made to surrender your appeal, which means even if Hector loses the case you would not be able to get your money back.

Before you make any decision, I would urge you to speak to Montpelier.

The reason seems to be that in most cases the amounts involved will bankrupt people, and a negotiated iva of 50% (or possibily less) of the tax owed is better than nothing. I know TW was involved in the early stages but my gut feeling is he's on our side and wants the best possible outcome for us.

but.... what if the retrospective law gets thrown out ... and what seriously are the chances?

[DonkeyRhubarb]

The reason seems to be that in most cases the amounts involved will bankrupt people, and a negotiated iva of 50% (or possibily less) of the tax owed is better than nothing. I know TW was involved in the early stages but my gut feeling is he's on our side and wants the best possible outcome for us.

but.... what if the retrospective law gets thrown out ... and what seriously are the chances?

If you read the worked example on the website, you wouldn't think he was on our side. Is he saying that this deal is only on the table if you sign up before the legislation gets approved?

I would say that the chances of the retrospective clause being thrown out are looking pretty good.

But if you think about it logically, even if the legislation goes through, Montpelier should be be in a much stronger position to negotiate a favourable deal since they would be representing around 1500 people not just a handful.

Why not have a chat with Montpelier if you are concerned?

[zippo]

Thanks for the heads up guy's !!

It's all a bit of a gamble both ways at the moment. I do wonder how many people are holding out and how many have negotiated.

Another thing is MTM would probably be calculating and negotiating the tax owed once the retrospective decision has been made (favourable or not to us).

Also if the revenue give a discount to any individual would they not have to give the same discount to everyone on a similar scheme.

Do you guy's know the actual date the final decision will be made for the retrospective portion of the law.

Cheers

[BrilloPad]

My gut feeling is that TW is on his own side. He feeds off and adds to negatives and untruths.

[IR35 Avoider]

Why would Hector offer you a discount now when he's just a matter of weeks away from getting his retrospective legislation passed?

My guess is that in return for the discount, you will be made to surrender your appeal, which means even if Hector loses the case you would not be able to get your money back.

The discount will probably be minimal, a few percentage points off the total bill HMRC want you to pay. They give this in return for the admin costs saved by not having to deal with contractors individually.

You will indeed have to sign an agreement that says the payment settles the matter and neither party is allowed to try and re-adjust things in their favour at a later date. i.e. if the scheme was legal and the retrospective legislation is tossed out then you will not be able to get back what you've paid.