BN66 - Time to fight back!!!

[BrilloPad]

Going to ignore gooner...jeez..arsenal supporters for ya!

Dont feed the troll!

[poppy01]

This wasn't intended as a dig at you. I just don't appreciate being labeled as an "arrogant twat" when I quit the scheme many years ago and my motivation for joining wasn't to pay f*ckall tax but to avoid IR35. Actually I am surprised these schemes have carried on for so long when Ltd Co seems a much safer bet these days.

I also quite the scheme a long time ago, 5 years to be precise.
I also dont like to be called an 'arrogant twat'.

speaking of which, nice to have you back Gooner old boy......

[malvolio]

I also quite the scheme a long time ago, 5 years to be precise.
I also dont like to be called an 'arrogant twat'.

speaking of which, nice to have you back Gooner old boy......

Lets just nail this for a moment. I didn't call you one, I said that's how you were being peceived: "arrogant" for thinking you had some sort of special exemption from UK Taxation law, both in principle and in practice, and "twat" for listening to snake-oil salesmen who don't even tell you what they're up to on your behalf.

The fact that many people (well, roughly 0.003% of those who could, if we want to be precise) are continuing to use these kinds of schemes when it's actually fairly safe to step around IR35 these days would rather tend to reinforce that view. However I'm not going to argue it any more either way.

[Maddog]

Cut the crap and lets get back to the real issues !

Initially this forum was a great source of information and collective thought ,on what is a significant issue for a number of people, who rightly or wrongly, have used schemes like MTM,and now face an uncertain financial future.

Is there any chance those who just want to casue arguments and score point against each other could F off and stop filling it with crap ?

For anyone left, I am seeking advise from an indepenent tax advisor that sits on the "general commission of income tax" with the HMRC and is well versed with defending clients and companies in tax investigations. This individual has come highly recommended.

I have got together with 6 other former MTM scheme users to help with the fees (which are v.high). I have an initial 2 hour meeting with this individual and to ensure I get the most benefit from this, plan to provide him a set of questions ahead of the meeting. Not being a tax expert or truely versed in the workings of the revenue, anyone want to advise me the key questions I should be asking ?

Fundamentally I want his opinion on whether MontP have a good case, or if we are banged to rights. If its the latter, I will be asking best approach to minimise the damage.

I am not interested in my spelling mistakes or the rights or wrongs of my approach so if thats all you got, don't waste your keyboard in responding.

Just sensible suggestion to assist in sorting this mess out !

[DonkeyRhubarb]

fairly safe to step around IR35 these days

Exactly my point. But I think you will agree that 7 years ago the climate was very different.

I'm not contracting any more but if I was I would use a Ltd Co OR if I couldn't operate safely outside IR35 I would pay as much as I could into a pension to claw some of the tax back.

I know you think fighting Clause 55 is a waste of time but what would you do if you were in our position? Even if a few of us in this forum paid up on account, it is not going to stop MTM pursuing this through the courts on behalf of the other 1500+. As I mentioned previously, they stand to collect £2M in loan repayments if they win so they are hardly likely to give up now. Furthermore, their core business is based around tax planning, so a good scrap with the Revenue in the courts will be great PR for them.

If you have a look at their web site, you will see the extent of their global operation. I can't see there is any way that they are not going to fight this to the bitter end.
http://www.montpeliergroup.com/

[helen7]

It is worth noting that Monpellier have NEVER lost a case in the 20 or so years they have been operating. That gives some confidence in their ability to fight these things.

The Inland Revenue have also attacked scheme's used by a lot of the city traders so I think they will have a lot of money backing them to win.

[DonkeyRhubarb]

The Inland Revenue have also attacked scheme's used by a lot of the city traders so I think they will have a lot of money backing them to win.

You say attacked, but did the Revenue win and recover back tax? Or did they just close these arrangements down? I don't remember reading that anyone had to pay money back.

[smalldog]

I agree, Montp arent just about to roll-over, this isnt some tin pot company who exist purely because of this scheme, they are global tax planning accountants. Their entire business would be in serious jeopardy if they lost this, they know it, people would leave them in droves..

And what would u do Mal?

[smalldog]

The Inland Revenue have also attacked scheme's used by a lot of the city traders so I think they will have a lot of money backing them to win.

You say attacked, but did the Revenue win and recover back tax? Or did they just close these arrangements down? I don't remember reading that anyone had to pay money back.

Donkey I think HMRC are setting the bar as high as they can in anticipation that they will be knocked down to a position where they are shut prospectively..

[malvolio]

...

And what would u do Mal?

Laugh like a drain, probably.

What you still haven't twigged is that most of Monpelier's schemes are tricky and complex but entirely legal and clearly defensible. The IOM DTT-based one isn't, is (and always was) clearly against the intent of the law and has been closed off. Of course they'll fight it, but this one they may not actually expect to win