BN66 - Time to fight back (Chapter 3)

[DonkeyRhubarb]

Yes, but we were warned upfront by Montpelier that the scheme could fail if the govt. brought in retrospective legislation.

I don't remember ever being warned about this either but back in 2001 I would have thought the very idea of "law change by time travel" was utterly proposterous.

[poppy01]

I don't remember ever being warned about this either but back in 2001 I would have thought the very idea of "law change by time travel" was utterly proposterous.

I joined in 2001 also. Retrospective change didn't come into it. I was specifically told that they would fight the law as it stood all the way, but that
the scheme had a shelf life of about 3 years, and the law could only be changed going forward.

welcome to the wonderful world of zanu-labour britain.

I am considering what my actions will be if we eventually lose, I have a list, and writing a check and popping it in the post actually isn't on it. I wont be defrauded by a corrupt administration, ever..... prove the scheme doent work in a court of law, you f***ing pussies

[TheGadgetMan]

I don't remember ever being warned about this either but back in 2001 I would have thought the very idea of "law change by time travel" was utterly proposterous.

I was going back thru some of my records from 2001 (as you do) and I found the following...it was part of the formal description of the original MTM scheme to prospective members and was published late March 2001..the only other significant point is that it was released by the guy who went onto to form SuoMuto...at the time of the release he was still working for MTM....

'Tax Counsel has approved the solution in the form of a detailed written opinion.

In our opinion the solution can only be defeated by the Inland Revenue changing the law but any such change will most likely only be effective prospectively and not retrospectively.

That is why we have the confidence to GUARANTEE the savings that you will achieve.

...so MTM believed that at some time the scheme would be attacked thru legislation...but didn't ever believe it would be done with retrospection...I mean, whoever thought that the government would ever do such a thing?

[nevergoingtopay]

I was going back thru some of my records from 2001 (as you do) and I found the following...it was part of the formal description of the original MTM scheme to prospective members and was published late March 2001..the only other significant point is that it was released by the guy who went onto to form SuoMuto...at the time of the release he was still working for MTM....

'Tax Counsel has approved the solution in the form of a detailed written opinion.

In our opinion the solution can only be defeated by the Inland Revenue changing the law but any such change will most likely only be effective prospectively and not retrospectively.

That is why we have the confidence to GUARANTEE the savings that you will achieve.

...so MTM believed that at some time the scheme would be attacked thru legislation...but didn't ever believe it would be done with retrospection...I mean, whoever thought that the government would ever do such a thing?

I was not a MontP user but was in the Steed and ICM schemes and they never warned us or said anything like this could happen....in fact their sales people just said it was 100% and we will never have a problem.

So i will be laying the blame with them before i take it!

[bombaycat]

I was going back thru some of my records from 2001 (as you do) and I found the following...it was part of the formal description of the original MTM scheme to prospective members and was published late March 2001..the only other significant point is that it was released by the guy who went onto to form SuoMuto...at the time of the release he was still working for MTM....

'Tax Counsel has approved the solution in the form of a detailed written opinion.

In our opinion the solution can only be defeated by the Inland Revenue changing the law but any such change will most likely only be effective prospectively and not retrospectively.

That is why we have the confidence to GUARANTEE the savings that you will achieve.

...so MTM believed that at some time the scheme would be attacked thru legislation...but didn't ever believe it would be done with retrospection...I mean, whoever thought that the government would ever do such a thing?

At my meeting they mentioned that retrospection would be a problem and said that the government had never used retrospection to date - of course implying that they probably wouldn't in the future but not guarantee it - that was circa 2005.

[Squicker]

Brillo, I remember them saying it in the original seminar in the Isle Of Man that I attended.

But they did say they would fight it all the way to the high court.

I was never notified of this.

[smalldog]

dya know what, f**k em, ive got nothing to give em, lost all my equity with the property crash. Bankrupt me u C***s!!!!! you will get F*** all, and spend a tulip load of taxpayers money bankrupting me too for nothing

GO FOR IT, IVE GOT NOTHING TO LOSE NOW !!!!

[poppy01]

dya know what, f**k em, ive got nothing to give em, lost all my equity with the property crash. Bankrupt me u C***s!!!!! you will get F*** all, and spend a tulip load of taxpayers money bankrupting me too for nothing

GO FOR IT, IVE GOT NOTHING TO LOSE NOW !!!!

same here dude, f***ers can whistle for it

[Mamba]

BN66 - Non Domiciled Resident

Any comments on what impact a non-domiciled resident status has on BN66?

According to current legislation, monies paid/earned offshore by a non-domiciled resident and not remitted back to the UK are not taxale.

Ignoring the current issues, this should make all the trust income exempt from tax (if not remitted).

Btw, I have been receiving notices from the SCO since 2001 stating that they 'may investigate' the structure. No mention of the breech of the alleged legislation implemented in 1987(?) was ever made. This squashes any SCO comments that there is no Human Rights issues - had I been informed of the alleged legislation back in 2001, then I would have immediately ceased using the structure.

[BrilloPad]

dya know what, f**k em, ive got nothing to give em, lost all my equity with the property crash. Bankrupt me u C***s!!!!! you will get F*** all, and spend a tulip load of taxpayers money bankrupting me too for nothing

GO FOR IT, IVE GOT NOTHING TO LOSE NOW !!!!

Aint gonna happen as we are going to win.