BN66 - Time to fight back (Chapter 3)

[nevergoingtopay]

fantastic stuff!!!! interesting there is no press release about S58 from HMRC, as you say maybe they are actually starting to feel ashamed..

oh and just to make my life even more interesting my contract finishes next week, unexpectedly due to project cancellation caused by the current climate, so will be out of work reallll soon...nice Gordon, my only assets have lost almost half their value, im out of work next week due to the crunch and youve sent me a bill for around £100k....LOLOL...

can u bankrupt someone who is on the dole?

Yes my mate was made bankrupt while on the dole....

He was signed out of bankruptcy in 9 months in 2007, now has 2 houses and is working again. Debt free plus never paid HMRC the 120k in VAT they wanted.

[u9k82]

Loan schemes

Hi ,

I've been following this thread for some time now . I have been unfortunate enough to have taken part in a guernsey based loans scheme . From my reading i can only assume that Montpelier now operate a loan scheme.

The revenue are on the verge of challenging the scheme i was involved in for 14 months. Initial opinion is that the scheme is doomed to fail.

Any advice ?

a) grab a ctd a ride it out ?
b) attempt negotiation (dont laugh)

Thanks

[BrilloPad]

Hi ,

I've been following this thread for some time now . I have been unfortunate enough to have taken part in a guernsey based loans scheme . From my reading i can only assume that Montpelier now operate a loan scheme.

The revenue are on the verge of challenging the scheme i was involved in for 14 months. Initial opinion is that the scheme is doomed to fail.

Any advice ?

a) grab a ctd a ride it out ?
b) attempt negotiation (dont laugh)

Thanks

Montp now operate a loan scheme. A few loan schemes have come under attack (Redding?).

If you can get a CTD then do so.

Try to negotiate : it would be very interesting to see the results. If they so no mention suo motu.

please keep us updated.

[poppy01]

See Point 6 of Timms' response...

http://www.publications.parliament.u.../313/31303.htm

The text of the original complaint:

http://www.parliament.the-stationery.../313/31304.htm

seriously, are you telling me that the complete upheaval in my families life that has been ongoing since 2001, was so Steven f****ing Tims consultancy could gain a competitive advantage....

[sal626]

Hi ,

I've been following this thread for some time now . I have been unfortunate enough to have taken part in a guernsey based loans scheme . From my reading i can only assume that Montpelier now operate a loan scheme.

The revenue are on the verge of challenging the scheme i was involved in for 14 months. Initial opinion is that the scheme is doomed to fail.

Any advice ?

a) grab a ctd a ride it out ?
b) attempt negotiation (dont laugh)

Thanks

Whose initial opinion?
Are the scheme providers backing it, i.e. are they in talks with HMRC to defend thier scheme?
What does being "challenged" mean exactly?

I was also in a loan based scheme, which is being "enquired" into - different to being "challenged"...

In my case the scheme providers are backing it and handling all communications with HMRC. They have employed leading tax advisors, who went and met with HMRC, and are now chasing HMRC to progress the enquiry, and HMRC are the ones who are delaying.

My point is, speak to the scheme advisors and see what thier thoughts are. If they are not willing to defend the scheme, then consider the other options that you have mentioned....

[smalldog]

seriously, are you telling me that the complete upheaval in my families life that has been ongoing since 2001, was so Steven f****ing Tims consultancy could gain a competitive advantage....

yep thats about it....he's also good buddies with the big 4 from what I know...and they obviously hate us more than anything

[Emigre]

seriously, are you telling me that the complete upheaval in my families life that has been ongoing since 2001, was so Steven f****ing Tims consultancy could gain a competitive advantage....

When you set out your stall in public life its a good idea to not only be white but to be SEEN to be white.

This makes the guy trying to stiff us a distinctly murky shade of grey. Its interesting that he and his missus gave 80% (perhaps £8m value?) to a charitable trust. Whilst there is a commitment that neither of them would be trustees who ARE the trustees? Who have been the beneficiaries? Do we really believe in his apparent philanthropy?

I know where my beliefs lie on this and white doesn't get a look in.

[patbikeruk]

Reply from MP

Sent letter to MP on Monday got reply today in post, very impressed.

"Dear Mr xxx

Thank you for yesterday's letter which I read with considerable sympathy not least because I have already made representations to the relevant Treasury Minister on behalf of another constituent who is being discriminated against by Section 58 of the Finance Act 2008

I will make sure that you see a copy of the response as soon as it is to hand.

With Best Wishes
Yours Sincerely
Andrew MacKay"

I will follow up with the forum when I have the response.

Thanks for all of the good work.

[phileds]

Yet another multi-millionaire MP telling us how to behave.

Hypocritical MPs behaviour, like Timms', the execrable treatment of Equitable Life members (I am one), along of course with IR35, are the very reasons I went with MTM in the first place.

I think it was in 1999 that the Ministerial Code of Conduct was amended to require ministers to declare their offshore holdings (perhaps even to offload them). Or put another way, ministers were filling their boots for decades via tax avoidance schemes, until the heat got too much.

[u9k82]

Whose initial opinion?
Are the scheme providers backing it, i.e. are they in talks with HMRC to defend thier scheme?
What does being "challenged" mean exactly?

I was also in a loan based scheme, which is being "enquired" into - different to being "challenged"...

In my case the scheme providers are backing it and handling all communications with HMRC. They have employed leading tax advisors, who went and met with HMRC, and are now chasing HMRC to progress the enquiry, and HMRC are the ones who are delaying.

My point is, speak to the scheme advisors and see what thier thoughts are. If they are not willing to defend the scheme, then consider the other options that you have mentioned....

OK maybe challenged was the wrong word , they have sent out probing letters , so enquiries would be a better term

The scheme provider is apparently helping the HMRC with their enquiries , however the tax advisors employed by the scheme provider dont think there is a strong case for the scheme holding up ,especially now the scheme provider converted the loans into a weak foreign and renderred the loans worthless ?!