BN66 - Time to fight back: Continued

[helen7]

Since the law has now been changed (or should I say 'clarified'), surely we have to declare the income for 07/08 as taxable?

Previous years tax returns were submitted before the retrospective law change so we could not be expected to know about the law change. However for the 07/08 return we now know the arrangement does not work by law, so I do not see how we can claim exemption under the DTT.

Thoughts?

[TheBarCapBoyz]

However for the 07/08 return we now know the arrangement does not work by law, so I do not see how we can claim exemption under the DTT.

Tony Q at Montp advised me to claim tax relief under the DTA for this year's tax return (2007/2008) exactly as for previous years as they intend to tell HMRC they are ignoring their advice. Or words to that effect.

[BrilloPad]

Since the law has now been changed (or should I say 'clarified'), surely we have to declare the income for 07/08 as taxable?

Previous years tax returns were submitted before the retrospective law change so we could not be expected to know about the law change. However for the 07/08 return we now know the arrangement does not work by law, so I do not see how we can claim exemption under the DTT.

Thoughts?

Cant say I care personally what montp put on there - I will follow their advice.

I have already seen a copy of my 07/08 tax return - if anyone cares they can PM me - sorry for the secret squirrel.....

[poppy01]

I note from the poll we have another 'settler'

why would you do that 2 months before the Judicial Review

[BrilloPad]

I note from the poll we have another 'settler'

why would you do that 2 months before the Judicial Review

I reckon that was atw.......

[AlbionRovers]

I note from the poll we have another 'settler'

why would you do that 2 months before the Judicial Review

Neither settler has come on here and explained themselves why. Yet they have posted enough times to be able to vote (unlike my good self).
I smell brown stuff.

Maybe they both won the lottery?

[iansbud]

Int calculations on Closure notice

Hi - i have seen a mates closure notice (still don't have mine yet) and am very confused as to how HMRC are calculating the interest... evrything I have read here implies it is calculated on a simple basis on the total tax liability, and i thought the rate was at latest check something like 7.5%...??

well on his closure notice, it states ""please note that xxxx in interest has already accrued as of today's date on the additional amount now due, and is accuring at a daily rate of aproximately xxx."

If you multiply the daily rate by 365 to get an annual amount - well this comes out to over 10% simple interest on his outstanding notional tax liability. So how does that work?? anyone else had their closure notice/seen that sentence and worked out how they come up with the daily rate of interest?

thanks - of course i have already emailed Montpelier...

[helen7]

However for the 07/08 return we now know the arrangement does not work by law, so I do not see how we can claim exemption under the DTT.

Tony Q at Montp advised me to claim tax relief under the DTA for this year's tax return (2007/2008) exactly as for previous years as they intend to tell HMRC they are ignoring their advice. Or words to that effect.

Ignoring their advice??? Erm, it is not advice it is LAW. The arrangement no longer works (and never did - according to the current law), so how can we claim relief under it?

I am guessing it could be years before the law is reversed.

[TheBarCapBoyz]

Helen,

I have just dug out the email I got from TQ at Montp. This was actually what he said:

"It is our intention to claim relief as in previous years with a note to say why we are not following HMRC guidance. "


He doesn't say what the note will say.

As you say, it is not "guidance" but the law.

[BrilloPad]

Ignoring their advice??? Erm, it is not advice it is LAW. The arrangement no longer works (and never did - according to the current law), so how can we claim relief under it?

I am guessing it could be years before the law is reversed.

It became LAW from 12/3/08 which left 19 days of the tax year (using 31/3 as year end). Therefore 2007/08 will be under the same argument until the appeals process has been exhausted.

Can I ask you directly why you are deliberately stirring things up on here? I know you claim to be in the scheme - but I still in 2 minds. This is not the first time you have tried to cause trouble and I doubt it will be the last.

I think most on this thread know who I am - and I have helped quite alot of people via PMs etc. I suggest that everyone double checks everything helen7 says.

BP