BN66 - Time to fight back!!!

[DonkeyRhubarb]

Does anyone know how montpelier have restructured the scheme to get around bn66. In my only correspondence from them (they were talking to existing members primarliy, not me) they stated that payments would continue and they had made the necessary adjustments.

This may stir some people up, but If they've 'fixed' it, I'm seriously considering rejoining as that's the only way I can hope to pay my bill when it comes.

Daft as it sounds, this ain't such a bad idea.

If you shove the extra cash in a CTD then you can use the proceeds of scheme 2 to cover any debt from scheme 1. Of course, you may only be deferring the problem until scheme 2 gets investigated but at least it should buy you a few years to get your finances back on track.

Also, with a bit of luck, Labour will have been booted out before they can take action against scheme 2, and so there may be less risk of retrospective measures with this arrangement. HMRC may still litigate but they would probably be on a hiding to nothing.

[malvolio]

Daft as it sounds, this ain't such a bad idea.

If you shove the extra cash in a CTD then you can use the proceeds of scheme 2 to cover any debt from scheme 1. Of course, you may only be deferring the problem until scheme 2 gets investigated but at least it should buy you a few years to get your finances back on track.

Also, with a bit of luck, Labour will have been booted out before they can take action against scheme 2, and so there may be less risk of retrospective measures with this arrangement. HMRC may still litigate but they would probably be on a hiding to nothing.

Still haven't learned reality, have you...

HMRC don't legislate anything, they merely apply the rules. The Treasury legislates, under the aeigs f the Chancellor and Parliament. If the law is passed then then the next governement will have a rare old time removing it; for something with such a minority impact, they wont even try. Meanwhile, HMRC will continue to apply the law as it stands.

Let's have a change of governement tomorrow (please God!) - but it won't alter your situation one bit.

And using the people who go you into the mess to get you out of it seems just a touch quixotic from over here.

[BrilloPad]

And using the people who go you into the mess to get you out of it seems just a touch quixotic from over here.

The new scheme is the same as provided by several others. IMO this means it will become a target all the sooner.

Nothing wrong with montpelier - they told us the rewards and risks. You take your choice.

[poppy01]

The new scheme is the same as provided by several others. IMO this means it will become a target all the sooner.

Nothing wrong with montpelier - they told us the rewards and risks. You take your choice.

sorry brill, but montpelier never explained the risks to me,it was sold as surefire 100%, with a shelf life of 3 about years, that could only be challenged by a change in the law. I dont think they foresaw this particular change though did they? they also said returns couldnt be reopened beyond the prescribed limits, but that wasnt true either.

mal, yeah I know, but its either that or a lottery win. i'm out of ideas, no-one will lend me the money, my only hope is when hmrc come knocking they'll give me three years to pay, i have no idea how hardline they are. never having been here before...

[BrilloPad]

sorry brill, but montpelier never explained the risks to me,it was sold as surefire 100%, with a shelf life of 3 about years, that could only be challenged by a change in the law. I dont think they foresaw this particular change though did they? they also said returns couldnt be reopened beyond the prescribed limits, but that wasnt true either.

Sounds like different presentation to me! They said they would back it all the way - but there was a risk!

Can I ask if you are one of the people who paid 6% to montpelier with 4% on top when the scheme is cleared? Have you paid the 4%?

BP

[DonkeyRhubarb]

And using the people who go you into the mess to get you out of it seems just a touch quixotic from over here.

The guy is facing bankruptcy/IVA. Have you got any better suggestions?

If he puts all the extra income into a CTD, I can't see how he has got anything to lose.

[poppy01]

Sounds like different presentation to me! They said they would back it all the way - but there was a risk!

Can I ask if you are one of the people who paid 6% to montpelier with 4% on top when the scheme is cleared? Have you paid the 4%?

BP

I paid the 4% for one of the years that subsequently came under investigation oustide the time limit. I figure MP should give me this back but every time I broach the subject I'm met with stony silence. Nor do I think they intend to challenge HMRC on this as a separate issue. It would make quite a difference to my tax bill if that year were taken out of the equation.

[BrilloPad]

I paid the 4% for one of the years that subsequently came under investigation oustide the time limit. I figure MP should give me this back but every time I broach the subject I'm met with stony silence. Nor do I think they intend to challenge HMRC on this as a separate issue. It would make quite a difference to my tax bill if that year were taken out of the equation.

So then montpelier do have a huge incentive to win so they can collect the 4% from you - and loads of others.

Also, if they charge 6% with another 4% when the case is finally closed - does that say therethere is some sort of risk attached? Maybe I am missing something?

I reckon that montpelier will fight HMRC at every level - they have a reputation incentive and a money incentive.

[scott_free]

So then montpelier do have a huge incentive to win so they can collect the 4% from you - and loads of others.

Also, if they charge 6% with another 4% when the case is finally closed - does that say therethere is some sort of risk attached? Maybe I am missing something?

I reckon that montpelier will fight HMRC at every level - they have a reputation incentive and a money incentive.

I guess the people who have already paid the 4% won't get a refund ?

[BrilloPad]

I guess the people who have already paid the 4% won't get a refund ?

They should give a refund? Have we lost then? Am I missing a major news item?

I thought the fight was just beginning...