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BN66 - JR Judgement Day

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    unwelcome visitors?

    A week has passed since the JR and the sick feeling in my stomach has now finally passed too. The main reason for its passing though is not the passage of time but this forum. It is the best cure for sickness of the stomach and depression of the mind. Can you imagine what the last year would have been like without the forum? I see we’ve even managed a bit if humour in the past 24 hours – we are a thick skinned lot. – long may the forum and the fight continue hand in hand.

    So, I’ve made my plan – and that’s where I went wrong before as I never really had one. I was mentally unprepared for last week’s knock back, allowing myself to be swept along on the tide of optimism despite my natural, ‘glass half empty’ attitude to life generally. So to defend my sanity against any more knock backs, I shall hand over what pot I have in the form of a CTD and take the hit on offsetting the mortgage – I can see there’s some maths to be done here to confirm its the best bet financially but I’m not sure I can ar5ed to continually speculate/monitor the performance of other investment options to make sure I’m ahead and not behind. Its fun when it’s a hobby but a bit more serious if your future, financial security (der?) is dependant on it. It seems that I should begin to get used to the notion that the day really, really might come when the end game is the house sale.

    So, expectations duly lowered; some cash lodged in CTD (grrrrr); mind refocused on the current contract, I am ready for the long haul. I have however, one remaining niggling issue: the spectre of HRMC Gestapo goons turning up on the doorstep demanding the Playstation! The resilient and patient wife has gone back to work to contribute to the minimisation of the black hole. As a result, the kids are in the house on their own for a few hours after school/college most days. If the Gestapo turn up when they are home alone, then what? I’ve not bored the kids with the sorry details of this affair and certainly don’t want to worry them by explaining that if some meat heads turn up wanting to take away the TV, they are to give them a thick ear and send them on their merry way! Something tells me there are laws against them gaining entry if you are not present……..but we all know where presuming the law to be on our side gets us!

    Anyway, I don’t give a monkeys about the TV, I can always buy another (2nd hand, black and white of course) but you can’t undo the trauma that sort of behaviour would have on the kids (or my suddenly less resilient and patient wife). So BN66 gang – do you really think this is a possibility? I’m sure I read a post or two some time ago where some of you had a visitation from the wheel-clamping, chattel stealing Gestapo thugs…….was there a promise from HRMC to play nicely after that was reported?

    Comment


      Santa - the new avatar made me laugh out loud. Are we developing an 'Animals Say No To Retro' theme?

      I'll have to nip down to local farm with my camera and a few banners ...

      Comment


        Originally posted by OnYourBikeGB View Post
        Santa - the new avatar made me laugh out loud. Are we developing an 'Animals Say No To Retro' theme?

        I'll have to nip down to local farm with my camera and a few banners ...
        Glad you liked it
        'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
        Nick Pickles, director of Big Brother Watch.

        Comment


          CTD's

          My understanding is that you do not get a CTD for the under generous interest savings rate. You take out a CTD to stop interest occurring on an outstanding amount demanded in a CN.
          If you have the funds to cover your liability then the sooner you take out a CTD for that amount the better in order to freeze interest.
          In my case interest on the outstanding tax/NI froze 18 mths ago when I took out the CTD, so I should have about 1 year of interest to pay (the January after the tax year).
          Of course the CN statement will not have shown that as the CTDs are a separate thing entirely.
          Anyone disagree ?

          Comment


            Originally posted by Grim Reaper View Post
            My understanding is that you do not get a CTD for the under generous interest savings rate. You take out a CTD to stop interest occurring on an outstanding amount demanded in a CN.
            If you have the funds to cover your liability then the sooner you take out a CTD for that amount the better in order to freeze interest.
            In my case interest on the outstanding tax/NI froze 18 mths ago when I took out the CTD, so I should have about 1 year of interest to pay (the January after the tax year).
            Of course the CN statement will not have shown that as the CTDs are a separate thing entirely.
            Correct.

            Comment


              unwelcome visitors

              Originally posted by wildebeest View Post
              I have however, one remaining niggling issue: the spectre of HRMC Gestapo goons turning up on the doorstep demanding the Playstation!
              I will post something later this afternoon on this topic once I've clarified a few facts.

              Comment


                Peak Performance Contracts website

                Its interesting to read what other "tax planning" agencies are saying about our scheme...this is the 2nd time I have read that another agent beleived that our scheme did not work and never has done.....or is this just PR from them trying to druim up new business...????

                See quote below for www.ppcontracts.co.uk


                "January 2010
                It is interesting to see the dust kicked up as a result of HMRC's victory in the High Court last week over a scheme operated by Montpelier. Although the judge's comments about retrospective legislation were rather alarming for anyone using the law in the UK (never mind just tax law) they did not in fact inform the decision made.HMRC made it clear in 2008 that they had laws from 1987 against the type of planning involved, and a positive decision in the courts in the 1990s to back it up, so the judgment itself did NOT rely on backdated laws. [/COLOR][/B]Of course, it suited the taxpayer to argue this, since that would have rendered the tax assessments vulnerable to the Human Rights Act.

                The case revolved around the use of a double taxation treaty to reduce taxable profits in the UK, and was not therefore a judgment on the use or taxation of trusts, as some papers have reported. This case has been known in professional circles for some years, and Peak Performance always expected the taxpayer to lose, since we have been advising against the use of such planning since 2003"
                Last edited by ROBIN REDBREAST; 3 February 2010, 14:22.

                Comment


                  Originally posted by ROBIN REDBREAST View Post
                  or is this just PR from them trying to druim up new business...????
                  It's utter rubbish. The Judge acknowledged that, under a strict legal interpretation, it would be difficult to classify us as "partners", which is how the 1987 legislation was framed.

                  It's clear other scheme operators now fear a mass exodus from these schemes, and they are desperately engaged in a cynical exercise in damage limitation.

                  Comment


                    Proposed Letter to Parliamentary Candidate

                    "Dear <INSERT CANDIDATE'S NAME HERE>,
                    I understand that you will be standing for Parliament at the next general election, and that in the event you are successful you will be responsible for our country's law-making. Before I consider voting for you or your party, please can you tell me whether there are any circumstances under which you would consider it fair for a British citizen to suffer under the law for an act which was not unlawful at the time when it was committed?"

                    Comment


                      HMRC's next steps

                      In response to an earlier question about whether HMRC could now send the Bailiffs round.

                      Legally, they have no right to do this.

                      The appeals of our Closure Notices have nothing to do with Huitson's JR.

                      These appeals, as well as the postponement of payment, still stand.

                      I think there is little point in trying to second guess what HMRC may do next but, if they are reading this, they would be well advised to tread extremely carefully.

                      I trust I can count on everyone to mobilise forces if necessary.

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