BN66 - Time to fight back (Chapter 3)

[seadog]

So, are you saying that HMRC investigated you and your use of the MTM scheme via a formal inquiry and their response was that everything was hunky-dory and that there was no further tax to pay?...ie they accepted the workings of the MTM scheme?

If so, isn't this an admission that the scheme works for everyone and therefore, sets a precedent?

It is not quite so clear cut.

We registered the Trust in our 03/04 tax returns in Jan 05, but no money was put through in that year. In Dec 05 HMRC wrote to open up an enquiry wanting further details etc. These were sent through and in March 06 they wrote to confirm they had concluded their enquiry with no futher action being taken.

Since no money went through the scheme until the following year it does not necessarily say thyy accepted the scheme but what it does show is that they investigated the scheme and did not advise me that it would not work nor that any moneys passed through the partnership would be treated as my income.

It is just further evidence that they did not notify the public or professional tax planners as they had suggested in their response to the JR.

[sal626]

Steed BN66 & new scheme

Hi all,

Just came across this forum a few days ago. I've been a contractor for last 3 years. I was with ASL (ASMG), then with an umbrella (had no choice as agency only worked with 4 umbrellas) and have now just joined Steed (begining of Jan). I saw in this thread that Steed are also involved in the BN66 battle.

I did ask Steed in beginning of Jan if they had any BN66 issues, and they said not with this scheme but they have had some queries with an older scheme. Just wondering if anyone here was on the old Steed scheme and is now on the new one?

I was actually recommend Steed by a friend, who moved to them in 2007. He sumbitted his return for 2008, which so far has not been queried, and oddly enough was told (over phone) that he did not have to complete one for next year.....so was wondering how exactly Steed are involved in this? Found it odd that Steed are not just querying the new scheme? Or is it too early to expect queries for year ending 08?

[TheGaffer]

Hi Guys,

Great work...all looks promising!

Just had a letter from HMRC today" Thank-you for your appeals as send in from MP for years xxxx to xxxx and xxxx to xxxx. The appeals have been regsitered and Increase tax due Suspended".

Is this a standard letter that all of you are getting?

Suspeneded = Closed/stopped? - Not a great use of English?

Rgds
Warlord

The only letters I have received from HMRC are of the bullying variety. I had to check my self assessment account on the Government Gateway website to find out that my tax "owing" had been suspended pending appeal.

[nuffsaid]

Off topic...

So Mr YouKnowWho thinks he's the Dark Knight now...
http://www.youknowwho.co.uk/

[poppy01]

Having nothing better to do I came up with the following anagram
for MISTER A*** B*******

ALAS, GRIN 'N BEAR IT MAN!

[TheBarCapBoyz]

HMRC interest rate charged on late tax cut to 3.5%.

That's got to be good for us.

[nuffsaid]

Having nothing better to do I came up with the following anagram
for MISTER A*** B*******

ALAS, GRIN 'N BEAR IT MAN!

I don't believe it... http://www.grinnbearit.com/ has gone too!

He has been busy

[robinhood]

IVA's

Hi

Am I right in thinking that HRMC won't agree to an IVA if you have more equity in your house than the tax debt . I could probably remortgage probably up to half the outstanding debt and then hopefully come to an agreement to pay the rest over a couple of years or so.
I'm concerned that they might not accept this and force me to go through the bankruptcy route and flog the house. Does anyone know what the standard rules are for this scenario

Thanks

[DonkeyRhubarb]

HMRC interest rate charged on late tax cut to 3.5%.

That's got to be good for us.

Quite a cheap loan when you think about it

[poppy01]

I don't believe it... http://www.grinnbearit.com/ has gone too!

He has been busy

at first glance it looks like japanese porn, not that I know much about that of course,