BN66 - Time to fight back: Continued

[SantaClaus]

Was that from your local office? Do you think head office knows?

Will you reply in yellow?

Dont forget to forward to NW or TQ (as if you would!)

It was from the local office Brillo. I dont think its particularly secret. I guess they are just doing what was asked by Montpelier.

PM me (or call me!) if you think this is important.

[BrilloPad]

It was from the local office Brillo. I dont think its particularly secret. I guess they are just doing what was asked by Montpelier.

PM me (or call me!) if you think this is important.

Its not important - except passing copy of letter onto montp!

Just interesting that local tax offices not doing what the main one tells them!

[SantaClaus]

Its not important - except passing copy of letter onto montp!

Just interesting that local tax offices not doing what the main one tells them!

Montpelier got the letter. HMRC thoughtfully sent a copy to me.

[DonkeyRhubarb]

HMRC are not applying penalties on the CNs so are clearly admitting that the law arising from FA 2008 did not exist prior to BN66.

If you use the scheme now and state your reliance on it on your tax return HMRC can take you to the Commissioners and challenge your treatment of the income, with the taxpayer effectively challenging the new legislation. (Didn't happen prior to BN66 of course ). It is still not criminal and if the Commissioners found in favour of HMRC there may not even be any penalties since you have declared all your income and are only disagreeing with Hector as to how it should be treated.

So what you are saying is that it is not criminal (evasion) so long as you include all your income on your tax return, even if the way in which you are trying to avoid paying tax is in flagrant breach of the law?

Is there no limit on how far you can take the p*ss?

[Emigre]

So what you are saying is that it is not criminal (evasion) so long as you include all your income on your tax return, even if the way in which you are trying to avoid paying tax is in flagrant breach of the law?

Is there no limit on how far you can take the p*ss?

Consider our situation. Our trust income has been shown on the face of each of our SARs for each year together with the statement that we are relying on the IOM DTA. SARs also include the scheme reference.

If you or I had good reason to believe that the new laws in FA 2008 do not in fact close the loophole what would be different to what we have been doing for the last x years? Absolutely nothing.

The reality is that you'd get a letter from HMRC saying that the scheme does not work because of FA 2008 and invite you to amend your return accordingly. Not doing so would mean a trip to the Comissioners.

Evasion is the concealment of income or overstatement of expenses. The fact that the trust income was shown on the face of the tax return was one of the key attractions to me of the MP scheme. By showing the income you could not be caught in the evasion corner.

[Ratican]

hehe someone mentioning criminal proceedings got me thinking...

Just like they're talking about special prisons for muslims they might need
special prisons for contractors. This so that ordinary contractors don't become "radicalised".

According to press reports, there are a large number of British born contractors who are being recruited in to extremist tax avoidance organisations like Montpelier and DMS.

Training camps have been discovered in the City and at Canary Wharf.

Anti-contractor hit squads led by Major General Alan Brannigan have been sent in to the camps and arrests are expected. Brannigan refused to deny that British tax inspectors would not use torture methods to extract tax information from contractors. "We will do whatever it takes to root out this evil, " said the General.

Meanwhile, the head of HMRC has warned the public to be on their guard. "The threat to this country of fundamentalist tax regimes has never been higher and we would ask the public to remain vigilant."

[BrilloPad]

Could I just remind everyone that the police were unhappy about names appearing on this thread. Please lets not get anyone banned. We have plenty
of issues without another sideshow.

[BolshieBastard]

HMRC are not applying penalties on the CNs so are clearly admitting that the law arising from FA 2008 did not exist prior to BN66.

So does this mean there is now no longer a need to purchase a CTD?

[BrilloPad]

I saw a piece in evening standard today - HMRC reducing their interest rate to 6.5% from 7.5%.

[DonkeyRhubarb]

So does this mean there is now no longer a need to purchase a CTD?

We are still being stung for interest. Penalties are a different thing altogether.

I still think it's worth considering a CTD if you've got the cash but it depends on personal circumstances and how you rate our chances of winning.