BN66 - JR Judgement Day

[futurecat]

I don't know if this has been posted yet, apologies if so, but I think that an awful lot more people have suddenly got a lot more interested in retrospective taxation:

http://news.bbc.co.uk/1/hi/business/8519803.stm

This is truly appalling. This basically states that from birth, regardless of where you end up living in the world, if you have any remote connection to the UK, you are in fact the de-facto property of HMRC, and as a result will pay taxes till the day you die. The swingometer currently being used in the court is firmly angled towards HMRC and "public opinion". If we were not in a recession and the courts were able to look at these facts in the cold light of day, would they come to the same conclusion? I doubt it. I too have friends who would be impacted by this.

[Tax_shouldnt_be_taxing]

I Sa, I Sa, I Sa

maybe we should write to "The Opinion Society", previously known as the Law Society and ask them whats going on.

youve got to be F***ing kidding me!!!!!
[I]
As a result, HMRC has created a new set of rules in which it will be an offence (punishable with a fine of £1,500 to £50,000) to give anyone tax advice (directly or indirectly) which leads to tax saving.

Hmm, sounds like supression of free speech to me or put it another way... a breach of Human Rights. Better get rid of my ISA which was setup on the advice offered by HMRC / HMT on savings plans.

[smalldog]

more retrospection

this time HMRC have hit weight watchers with back tax to 2001, sounds familiar! think thats the third instance of retro ive heard about since our case was heard.

http://www.telegraph.co.uk/finance/n...-Watchers.html

next stop IR35 avoiders!!! anyone for the thin end of the wedge of e piece of stilton, or maybe a nice big fat wedge of cheddar

[Slobbo]

So if this tax advice legislation comes into force does that mean that the HMRC employees are then fined for giving tax advice. Oh sorry they don't give advice do they. They ignore something for 8 years change the law and say it always applied but then again if we apply the HMRCs perspective on law then they could be caught. Guidance could be deemed advice and that guidance means say a change of tax code that leads to a savings in tax then bingo. Fine them.

[Tax_shouldnt_be_taxing]

this time HMRC have hit weight watchers with back tax to 2001, sounds familiar! think thats the third instance of retro ive heard about since our case was heard.

http://www.telegraph.co.uk/finance/n...-Watchers.html

next stop IR35 avoiders!!! anyone for the thin end of the wedge of brie, or maybe a nice big fat wedge of cheddar

Well at least it proves they're going after the fat cats!

[DonkeyRhubarb]

I am too young to remember, but was it like this when the last Labour goverment was coming to an end? Were they this bad?

I remember a friend of the family who was staunch Conservative, and used to say Labour were the worst thing ever for the country, I could never understand why he was so against them. Now I understand.

Top rate of income tax under Labour in the 1970s was 83%.

Because of surcharges on unearned income (investments), it was possible to pay a marginal rate of tax of 98%.

As in the 1970s, what they are doing now is purely political. The revenue raised is inconsequential.

http://www.telegraph.co.uk/finance/f...is-Healey.html

[smalldog]

fat cats

There will be some seriously powerful and pissed off people if HMRC start trying to hit the richlist. Doubt it will just be business people either, lots of sports stars and politicians and ex-politicians have nice little arrangements Im sure, Jenson Button and Lewis Hamilton being two obvious ones. Guess Mr and Mrs Posh will get a letter thru the door soon too, beckingham palace will be no more...wonder how me ole mate Tone is feeling with his complex tax arrangements that he wont talk about??

reckon most of the dragons den will flee to foreign shores, might also be the last of The apprentice for the BBC too...

[Tax_shouldnt_be_taxing]

WMD aka DWD

So if this tax advice legislation comes into force does that mean that the HMRC employees are then fined for giving tax advice. Oh sorry they don't give advice do they. They ignore something for 8 years change the law and say it always applied.

Slobbo,

When you read the HMRC doc, it appears that they are trying to single out any agent that behaves in a way that does not comply with their rules. DWD (Deliberate Wrong Doing) could get rather wooly though. So whilst on the face of it it may seem like a good idea to prevent dastardly wrong doers advising on tax, there is no "clarity" on what such a wrong doer would look like. But I think we all know how HMRC would draw their picture! Only guidelines and rules though, so nothing to worry about...

[DonkeyRhubarb]

Tony Blair

I wonder if he's paying his "fair share" of tax?

I have no doubt he is complying with the letter of the law with all his complex offshore arrangements.

But as we know that's no longer sufficient.

[Slobbo]

Slobbo,

When you read the HMRC doc, it appears that they are trying to single out any agent that behaves in a way that does not comply with their rules. DWD (Deliberate Wrong Doing) could get rather wooly though. So whilst on the face of it it may seem like a good idea to prevent dastardly wrong doers advising on tax, there is no "clarity" on what such a wrong doer would look like. But I think we all know how HMRC would draw their picture! Only guidelines and rules though, so nothing to worry about...

Yeah I realise that - just a little comedic rant.
Our situation has made me look at tax matters a whole lot closer than ever before and the whole lot just seems to be an incredible mess.

HMRC don't seem to know what is going on so how on earth are the rest of us supposed to know. HMRC should be held accountable when they get it wrong. And I mean not just the HMRC but the individuals that spew out this nonsense. Maybe then they will do a proper job.

I work in the public sector a lot and most of the public servants are inexperienced or simple don't want to work. I reckon a 3rd of them do the work the rest are just there waiting for their juicy pensions. It is a double edged sword for me. It irks me to see my taxes paying for some of these knobs but at the same time because they are as useless as tits on a bull I get the work. Don't get me wrong there are some very good public servants but unfortunately they are the minority.