BN66 - Time to fight back (Chapter 3)

[elpinar]

ctd interest

heres quite a funny one .... on CTDs

The rate of interest paid on a Deposit during each year will be either

the rate in force on the date shown on the Certificate
for Certificates that are more than a year old, each year's interest will be at the rate in force on the first day of the Certificate's anniversary

so that means for those of us holding CTDs - where we took them out when interest rates were higher we are probably earning something on them for the first year if the current interest rate on the tax potentially due is now 2.5

[lucozade]

Cycloptic Scottish Idiot

Come on there is no need for that !

[poppy01]

Reason given:

Outside the remit or powers of the Prime Minister and Government

Further information: This is a matter for direct communication with Parliament.

Anyone else pick up on the reason for rejection.
Are they saying retrospective changes to law are outside the remit or powers of Government. They should meet Mr Timms and tell him that.

[KiwiGuy]

im back...what have i missed

been away on holiday for 3 weeks, what have a missed, i got a letted from Ed Davey just quoting what was already stated (he had sent a letter....)

anything else new?

[DonkeyRhubarb]

CTDs

Someone just emailed me this:

"I just spoke to the ctd office and they happily told me that they are all hmrc and that if another tax department rang and asked if a specific person had ctds they would tell them"

Draw your own conclusions.

[Emigre]

Someone just emailed me this:

"I just spoke to the ctd office and they happily told me that they are all hmrc and that if another tax department rang and asked if a specific person had ctds they would tell them"

Draw your own conclusions.

There is nothing on HMRC site that says the left hand will not discuss with the right hand - its just extremely unusual at HMRC. I admit though that it was my understanding that any CTD investment was a private matter. I would interpret that to mean not sharing with other departments or agnecies.

This raises an interesting issue. In the event that the first hearing goes against us could/would HMRC sequester any known CTDs? Personally I would be concerned by that possibility. I believe that it is possible to buy CTDs anonymously through an accountant.

[DonkeyRhubarb]

In the event that the first hearing goes against us could/would HMRC sequester any known CTDs? Personally I would be concerned by that possibility. I believe that it is possible to buy CTDs anonymously through an accountant.

Personally I am more concerned that Brannigun et al could simply tot up how much has been stashed away in CTDs and use this as a worst case estimate of how much they could collect if they won. This could give them the justification for chucking shed loads of public money at fighting the case.

[PlaneSailing]

Personally I am more concerned that Brannigun et al could simply tot up how much has been stashed away in CTDs and use this as a worst case estimate of how much they could collect if they won. This could give them the justification for chucking shed loads of public money at fighting the case.

Given that you'd have to declare the interest you've earned on the CTD
every year, I think it's safe to assume they know how much you have
held on deposit.

I don't know where the money is held secretly story came from...

[OnYourBikeGB]

There is nothing on HMRC site that says the left hand will not discuss with the right hand - its just extremely unusual at HMRC. I admit though that it was my understanding that any CTD investment was a private matter. I would interpret that to mean not sharing with other departments or agnecies.

This raises an interesting issue. In the event that the first hearing goes against us could/would HMRC sequester any known CTDs? Personally I would be concerned by that possibility. I believe that it is possible to buy CTDs anonymously through an accountant.

When I was tring to find out why the revenue were so keen to clear my home of my belongings a couple of weeks ago, I rang the collections department. They told me that the level of debt put an onus on them to collect it quickly. I asked them if I had a ctd would they be less eager, and was told that it may have a bearing. Now, whether or not that was just off the top of his head, I don't know, but I did wonder why I seemed to be a bit of an exception. I have kept most of my money offset, so there is no interest. Anyone checking my details on my tax returns would see only a couple of quid interest each year. I think the assumption would be that I had no assets. It has made me think of moving the money out of my offset.

[DonkeyRhubarb]

Given that you'd have to declare the interest you've earned on the CTD
every year, I think it's safe to assume they know how much you have
held on deposit.

I don't know where the money is held secretly story came from...

As I understand it, a CTD only pays out interest if/when you cash it in, and the rate is probably close to zero now anyway. It was only paying 1% when the base rate was 5%.