BN66 - JR Judgement Day

[TykeMerc]

Personally, I'm thinking getting out of all this DTA / Loans etc and doing the extreme of limited company but taking it all as salary and taking the full tax hit on the lot...this really appears to be the only safe way not to get attacked in the future.

To be honest it's incredibly likely that all of the more esoteric tax planning schemes will be attacked in the long run.
I'm actually quite surprised that the loan schemes are being used at all as it's all but impossible to argue that they're anything other than artificial.
It's reasonable to assume that BN66 aside these esoteric tax planning and loan schemes will get a lot of hostile attention from HMRC.

[RockTheBoat]

One rule for them

--> posted by Toocan earlier
http://forums.contractoruk.com/1059440-post333.html
--<


Lib Dem MP Jeremy Browne wins £18,000 expenses appeal

http://news.bbc.co.uk/1/hi/uk_politics/8486317.stm

love this bit

...
Sir Paul Kennedy, who was appointed to hear appeals, said he had acted "openly and honestly" when making his claim.
...


didnt we also do that?

[akan]

And this was never a tax dodge was it? Surely if someone should lead by example....

http://www.guardian.co.uk/politics/2...blair-finances

[Moscow Mule]

And this was never a tax dodge was it? Surely if someone should lead by example....

http://www.guardian.co.uk/politics/2...blair-finances

Another 2p.

Whilst I can see your anger in this, this sort of thinking won't get you anywhere.

[Tax_shouldnt_be_taxing]

Why I'm not worried

From tomorrow, nothing in our position will have changed. The Judge has ruled that he cannot grant review on the basis of public policy and how it relates to A1P1 of the ECHR. Nothing else.

Appeals will be lodged. Time will pass

May 6 - Labour will be out
May 7 - Tories will be in

New Government will be lobbied by many groups including the CIOT to put an end to retrospection.

Tories will see that grabbing from the past will also destroy the future. They need to fill a HUGE national deficit with tax and bankrupting a load of people, scaring business out of the UK and presenting the UK as an uncertain place to do business won't help.

Certainty will be restored.

Retrospection will be confined to history

We'll all have to pay more tax and there will be an end to tax avoidance

We'll all knuckle down and get the country out of Labours "suckling on the cow until they became fat and lazy from their ill gotten gains".

The middle classes will be at the heart of this

The layabouts will have had their day

Legislation will be passed to put an end to this before it ever gets to the current end game.

We will survive.

So keep your powder dry. It's not a race, it's a marathon. It's protracted and requires patience. There is a future and it has not been cast in stone. Parliament is there to serve the People, not the other way around. In time, the next Government will be pressed to accept that and undo all that Labour has done which has brought the likes of us together.

Yesterday, we were in the eye of the storm. Today, we felt its fury. We are still afloat and have a compass. We can navigate. But a crew cannot function if we're not as one. There is landfall. We may not all be able to see it yet, but it's out there. And the above chart is for me at least a true heading and with fair winds, we will make landfall in the course of time.

It is not a question of how far you fall. It is a matter of how high you bounce back.

Good night to you all after what has been a long day for everyone.

[bananarepublic]

May 7 - Tories will be in

New Government will be lobbied by many groups including the CIOT to put an end to retrospection.

Tories will see that grabbing from the past will also destroy the future. They need to fill a HUGE national deficit with tax and bankrupting a load of people, scaring business out of the UK and presenting the UK as an uncertain place to do business won't help.

Certainty will be restored.

Retrospection will be confined to history

Sorry, I think you've got it wrong here. The Tories brought in Padmore. Aside from the fact that we would never have got in this mess with the Tories in power - no IR35 - in the circumstances they would have done exactly the same.

[Tax_shouldnt_be_taxing]

Sorry, I think you've got it wrong here. The Tories brought in Padmore. Aside from the fact that we would never have got in this mess with the Tories in power - no IR35 - in the circumstances they would have done exactly the same.

But they didn't enforce the retrospective taxation. The right to close avoidance is not an issue for me. It is the ability to apply tax retrospectively that is. They did not, Labour has. That is the difference and in 1987 they did not do the same thing.

[bananarepublic]

Thats true. However, I can't see the Tories reversing BN66, they have nothing to gain from doing so - and they can blame the previous lot for what happens.

Frankly I don't care, if I had to pay up for BN66 to get Labour out - chance would be a fine thing - I would. The main reason I joined Montpelier wasn't to save tax (all safely tucked up in CTD's from 2003 onwards - I'm a cynical b'stard and saw Liebour for what they were from the start) but the chance to stick one in the eye of Labour after their lies when they brought in IR35. [ Should have read the proverb - "if you seek revenge then dig two graves" prior to this ...]

Can honestly say that if Brown is still PM and Labour in government after the election we are going to be packing our bags....

[Tax_shouldnt_be_taxing]

Can honestly say that if Brown is still PM and Labour in government after the election we are going to be packing our bags....


Amen to that Brother....

[Peoplesoft bloke]

What the crikey is a CTD?