BN66 - JR Judgement Day

[Squicker]

hey guys, I know this is a set back but try not to think its the end of the world. As MP have always said they will appeal all the way regardless including ECHR. This isnt over yet, and as someone said, if we had won this round then HMRC would have appealed anyway.

It is only money and the worst case its bankruptcy which is now discharged quite quickly compared to the old days...

Today is a bombshell but I am staying put and fighting.

HMRC would have definitely appealed today's decision had it gone our way, and we would merely be having the same worried thoughts once we heard their appeal was granted.

The fact that it is we who are about to invoke the next stage of the process, makes no difference to the duration, or what outcome there is, of the process.

[sgee]

300k? What did you spend it on? I'm jealous.

Thats hardly constructive. Whatever people owe it is a percentage and therefore equally difficult! I expect it was spent on buying services in the economy, supporting jobs, family welfare - the usual sort of stuff that apparently isn't encouraged at all nowadays.

[helen7]

300k? What did you spend it on? I'm jealous.

Ongoing chemotherapy for my husband, school for my children, care home for my parents. Oh and I did treat myself to a spa day once.

Government will need to pay for all of that now, and also will need to throw in a house for us to live in.

Smalldog - No, it is not 'just money'

[smalldog]

As I understand personal bankruptcy tends to include a financial settlement including all your assets - doesn't that include your home or am I naive?

its depends, there are two types of bankruptcy, chapter 7 and 13. do some research on both. Chapter 13 enables you to work to a payment plan that can span 3 or 5 years.....

[ContractIn]

let us know about the possibilities out there for independent advice if you can - I don;t know where to start and I'm sure this will be seen as an opportunity by less scrupulous individuals to charge us again for advice that will be ultimately valueless.

much appreciated!

Ultimately I want to win this and don't want to be the doom monger when so many have put so much effort into this. A lot of this is knee jerk reactions from me.

To date i have stuck with MTM, but now will seek independant advice. As indicated I feel I have been mislead/let down by both parties. I know a couple of tax advisors who initially told me to stick with MTM as they were pursuing correct avenues.

It will all be about timing now. HMRC next steps/MTM appeal? MTM comms/advice etc

[Tomred]

Stop Panicking

Hi All,

My first and possibly only ever post.
Always a lurker, I feel its time to speak.

For Christ sake give MTM a chance, we have only just seen the review and yes its a crap result and does not bode well for the future.

My view is MTM got us into this, lets see how they get us out of it.

Running to HMRC to agree deals at this stage will just create another mess.

MTM are our advisers please lets wait to be advised.

[robinhood]

Perhaps Montp can offer me an interest free loan - least they can do

[Emigre]

I was at Court this morning and have sent a detailed update to DR to edit and put into the Opening Post on this thread. It will be with you shortly.

There are strong reasons for the decision or perhaps more reasonably why the judge could not find in our favour. This was only ever going to be the start. It still is. There will be more hard work and more belief needed and that will go on for at least another 12 months.

Go take that cup of tea or something stronger, feed the cat, and get set for the long haul.

Emigre

[rosbiff]

Bau

We are no worse off than yesterday.

I shall continue to put what I can in a CTD and await the final outcome.

[sgee]

Given their role in this that is exactly the kind of advice I would like to see from them, a list : "Contact your local tax office" - "Ask for payment on account terms" - "take out a preferential loan with us". If you lose : "this will happen" - this is subject to the final step in the process which is "etc etc", if you win you will get back "X" amount.

it wouldn't be that hard to give us some options and I do hope they do and make sure that the burden is shared.