BN66 - Time to fight back (Chapter 3)

[DonkeyRhubarb]

John Cleese?

Might as well be!!!

[BrilloPad]

John Cleese?

I hope the JC I refer to is as avid a reader as HMRC head office.

[seadog]

[QUOTE=DonkeyRhubarb;739926]

However, one thing I do bitterly regret is that we didn't lobby harder at the time. Every single scheme member who was under investigation by HMRC should have written to their MP, stating which tax years were under enquiry. Unfortunately, only a few of us wrote so she was able to get away with saying this:

I have received one or two representations on the matter, but I understood that there was broad acceptance that the Government were expected to take this step. The hon. Member for South-East Cornwall says that that is not the case, but I have seen only one or two representations, and I was not aware of that concern being widespread.

I agree entirely with you DR, it was a massive miscalculation not to get all those liable to suffer from thsi retrospective legislation to loobby our MP's etc.

Lets not make the same mistake again and get ready to fight back which ever way we can and show what effect this is having on so may individuals.

[eubria]

JR date/process

Does anyone know the date of the JR?, how long it is expected to last? and what is a normal period between end of JR process and the JR announcing it's decision?

[DonkeyRhubarb]

Steed

Anyone in the Steed scheme on the forum?

I have received conflicting reports of what action they are taking.

Can anyone confirm?

[DonkeyRhubarb]

Rumour

I have just heard that one property developer has £60M riding on the scheme.

[nuffsaid]

With the markets getting increasingly twitchy I'm now considering dumping my offset mortgage.

I was under the impression that if the lender went belly-up my savings would pay off part of my mortgage and I'd be left with the outstanding mortgage balance.
But I've since found out that there is a possibility that they would keep any savings over £50k but leave me with my FULL mortgage debt. In other words, my mortgage and savings would be treated as two separate accounts.

[nuffsaid]

I have just heard that one property developer has £60M riding on the scheme.

Ooooooooo, nasty

[DonkeyRhubarb]

With the markets getting increasingly twitchy I'm now considering dumping my offset mortgage.

I was under the impression that if the lender went belly-up my savings would pay off part of my mortgage and I'd be left with the outstanding mortgage balance.
But I've since found out that there is a possibility that they would keep any savings over £50k but leave me with my FULL mortgage debt. In other words, my mortgage and savings would be treated as two separate accounts.

I can't comment on this but if you are looking for an alternative home for your money, and don't fancy a CTD, then I've got an account with these guys and have been very impressed with their level of service.

http://www.investec.com/UnitedKingdo...ices/High5.htm

[AlbionRovers]

With the markets getting increasingly twitchy I'm now considering dumping my offset mortgage.

I was under the impression that if the lender went belly-up my savings would pay off part of my mortgage and I'd be left with the outstanding mortgage balance.
But I've since found out that there is a possibility that they would keep any savings over £50k but leave me with my FULL mortgage debt. In other words, my mortgage and savings would be treated as two separate accounts.

This was all discussed a while back on the Moneysavingexpert mortgage forum and the concensus was that you would only be liable for the amount owing - their words not mine.
I've just had a another look and the main discussions seem to be about splitting savings between offset and ISAs due to differing interest rates ie. to save money, not about getting rid of offset because banks are going bust.