BN66 - Time to fight back (Chapter 3)

[silver_lining]

signatures...

Given the Law Society, ICA etc..... do not endorse the retrospection, surely they as individuals would have no problem supporting the petition....?

How can we get the organizations and respective members to sign?

at a minimum we all or have or did have accountants... get them to sign??

... but seriously take it to the next level...

Lets see if people actually have the balls to follow up on their respective bodies sentiment.

[DonkeyRhubarb]

CIOT, ICAEW, Law Society

Given the Law Society, ICA etc..... do not endorse the retrospection, surely they as individuals would have no problem supporting the petition....?

How can we get the organizations and respective members to sign?

I emailed them a week or so ago but got no response. However, if enough people did the same they might be persuaded.

Chartered Institute of Taxation
President - Nick Goulding
[email protected]

Institute of Chartered Accountants in England and Wales
Chief Executive - Michael Izza
[email protected]

Law Society
President – Paul Marsh
[email protected]

Mention that their organisation opposed Section 58 Finance Act 2008, and also that Vince Cable has signed it.

Don't forget to include the link:
http://petitions.number10.gov.uk/RepealSection58

[BrilloPad]

I sent them all an email. And I have emailed the MD of the PCG.

[Little'Old Me]

I emailed them a week or so ago but got no response. However, if enough people did the same they might be persuaded.

Chartered Institute of Taxation
President - Nick Goulding
[email protected]

Institute of Chartered Accountants in England and Wales
Chief Executive - Michael Izza
[email protected]

Law Society
President – Paul Marsh
[email protected]

Mention that their organisation opposed Section 58 Finance Act 2008, and also that Vince Cable has signed it.

Don't forget to include the link:
http://petitions.number10.gov.uk/RepealSection58

Have you considered e-mailing every Accountancy body in England?

Association of Accounting Technicians
Chief Executive - Jane Scott Paul
[email protected]

Association of Chartered Certified Accountants
Chief Executive - Helen Brand
[email protected]

Institute of Certified Practicing Accountants
Chairman - Anthony Margaritelli
[email protected]

Institute of Financial Accountants
Chief Executive - David Woodgate
[email protected]

These are the ones I was able to locate from the organizations websites. The info was impossible to find on the other websites, which doesn't say much about how proactive and accessible they are!

[DonkeyRhubarb]

Have you considered e-mailing every Accountancy body in England?

Association of Accounting Technicians
Chief Executive - Jane Scott Paul
[email protected]

Association of Chartered Certified Accountants
Chief Executive - Helen Brand
[email protected]

Institute of Certified Practicing Accountants
Chairman - Anthony Margaritelli
[email protected]

Institute of Financial Accountants
Chief Executive - David Woodgate
[email protected]

These are the ones I was able to locate from the organizations websites. The info was impossible to find on the other websites, which doesn't say much about how proactive and accessible they are!

Thanks. I have dropped them an email.

[DonkeyRhubarb]

Summary of Section 58

This one page summary might be useful if you are meeting with MPs etc.

Thousands hit by retrospective tax

Section 58 Finance Act 2008
Retrospective legislation in the 2008 budget could see many freelance workers losing their homes or, worse still, forced into bankruptcy. Section 58 targeted a tax planning scheme which had been very popular since IR35 was introduced in 2001. The controversial feature of the legislation was that it retrospectively changed an Act of Parliament passed in 1987, allowing HMRC to issue retrospective tax demands going back many years.

HMRC woefully slow to act
HMRC have known about the scheme since 2001. As far back as the early 90s, their own manuals even made reference to the fact that some tax planners believed it might be possible to circumvent the 1987 legislation. It has never been clear why they allowed the scheme to continue growing for 7 years before forcing the Government to step in with retrospective legislation. Had they acted swiftly in the beginning then this entire situation could have been avoided.

Legislation attracted widespread criticism
The Chartered Institute of Taxation described it as “extreme and unjustified”; the Law Society believed it was “wrong in principle”; and the Institute of Chartered Accountants in England and Wales warned, “it sends out a very damaging signal about the stability of the UK tax system”. The Conservatives and Liberal Democrats were vehemently opposed to the legislation, and tabled amendments to remove the retrospective element, but the Government used its majority to force the legislation through.

Legal action underway
Several tax planners and accountancy firms, including PwC and KPMG, have already launched legal actions in both the UK and European courts. These proceedings are expected to be long and protracted, and HMRC will be forced to spend huge sums of public money defending the legislation.

Many facing bankruptcy
People who used the scheme are now facing massive backdated tax bills and, because the tax is deemed to have been due many years ago, HMRC are also imposing interest charges for “late payment” which can increase the debt by up to 50%. For many, bankruptcy may be the only way out. The worry and uncertainty has put a terrible strain on families and relationships during the past year, and it is reported that some marriages have already broken down.

MPs offer their support
A lot of people are now starting to fight back. Hundreds have been making representations to their MPs who in turn have been bringing the matter to the attention of the Treasury. After reviewing the case, Edward Davey MP (LibDem) described Section 58 as “immoral”; John Redwood MP (Con) called it “legalised theft”; Susan Cramer (LibDem) said it was “vile and unjust”.

Vince Cable signs petition
A petition has been started on the No 10 website to raise the profile of the case. Vince Cable, Liberal Democrat Shadow Chancellor, has already offered his support by signing it.

http://petitions.number10.gov.uk/RepealSection58

End.

[Toocan]

Save the tax havens

A more honest look at tax havens and what they do for everyone:

http://www.timesonline.co.uk/tol/com...cle6078115.ece

[Toocan]

America runs the worlds biggest Tax Haven

http://www.guardian.co.uk/business/2...st-us-delaware

[BrilloPad]

Thanks. I have dropped them an email.

Let us know how you get on : if no response a few more of us will email them........

[bombaycat]

America runs the worlds biggest Tax Haven

http://www.guardian.co.uk/business/2...st-us-delaware

Ha ha Wilmington Delaware that's where my aunt and uncle live - honestly!