BN66 - JR Judgement Day

[sgee]

advice / interest etc

You might say this is just the first round lost but our appeals were based on the judicial review. What is stopping HMRC collecting the money now?

I am seriously considering legal action against Montpellier. They withheld information from scheme members and misled us the entire time.

Regarding the terms of settlement; are we legally obliged to be offered the same deal as suo-moto? Also, since our tax returned were being legally appealed, can we contest the interest??

These are very valid points. Interest and charges make part of this "unfair" to us, we are not just taxed based on the law changing, but penalised retrospectively too - and the length of time this has taken is where the unfairness of interest starts. I certainly wasn't advised about payments on account until 2008 and the impact on interest. Whether this is my advisors not informing me properly or simply unreasonable I don't know. But these are important points. Furthermore, what of fees? Can I claim these as expenses/losses, or should I reasonably be refunded these in terms of failure in the end?

anyone else got comments?

[elpinar]

You might say this is just the first round lost but our appeals were based on the judicial review. What is stopping HMRC collecting the money now?

I am seriously considering legal action against Montpellier. They withheld information from scheme members and misled us the entire time.

Regarding the terms of settlement; are we legally obliged to be offered the same deal as suo-moto? Also, since our tax returned were being legally appealed, can we contest the interest??

i think you shoudl talk privately to whom ever you want about that - but putting it on here means the letters will definaltey be zinging in the post triple quick .... if they think we are dividing they will go for the kill - if you feel like that - email those that you know but unless you want to take everyone down with you leave those that wish to fight on without an extra battle

[sgee]

I've been under the shadow of investigation for 6 years and am pretty much fed up with the whole thing. My next step is to talk to HMRC to make a contingent settlement of the outstanding money. If we win in the future I get my money back. I'm simply not prepared to see my liability increase by another 50% over the next god knows how many years.

I suggest that those who are unable to pay talk to HMRC. I don't think it is in their interest to bankrupt people. And the sooner the better, who wants the stress of dealing with balliffs - this is less likely to happen if you initiate a process yourselves. They will let you spread payments or take a charge over your house if you can't pay - they've done this before. Sorry but there are no easy answers to this.

As the judgement states we have had options as individuals to resolve this - has the advice we have been given always been in our best interest?

This is exactly the kind of advice we need from our official advisors - is there any point hoping they will step in and help us with these rescue plans? For someone like myself I have never dealt with the revenue at this level before and honestly, it is very intimidating.

[ContractIn]

I've been under the shadow of investigation for 6 years and am pretty much fed up with the whole thing. My next step is to talk to HMRC to make a contingent settlement of the outstanding money. If we win in the future I get my money back. I'm simply not prepared to see my liability increase by another 50% over the next god knows how many years.

I suggest that those who are unable to pay talk to HMRC. I don't think it is in their interest to bankrupt people. And the sooner the better, who wants the stress of dealing with balliffs - this is less likely to happen if you initiate a process yourselves. They will let you spread payments or take a charge over your house if you can't pay - they've done this before. Sorry but there are no easy answers to this.

As the judgement states we have had options as individuals to resolve this - has the advice we have been given always been in our best interest?

I’m going to have to seek independent advice. I joined the scheme in 05 and was never told by MTM there were cause for concern or that HMRC doubted the scheme or had challenged in anyway. I left after 2.5 years and never received anything from HMRC on subsequent SA Tax returns. It was not until bn66 and a year later that I received my first CN.

I was completely in the dark. How would I be aware of options?

[PurpleTurtle]

Shocked, distressed, angry and a whole other range of emotions here.

Just thinking back to when I joined MTM back in 2001 we were told that it was legitimate tax planning, legal at the time but could of course be challenged in the future. That sat happilly with me. I didn't imagine that I'd be sitting here 9 years later with a six figure bill. Ouch...not part of the game!

Anyone else feeling like they are on a huge game of financial Snakes & Ladders and have just landed on a very big snake? I need to wait for the dust to settle before planning my next move, but can't help laughing at the irony of logging on to my internet banking to check funds, Lloyds TSB conveniently telling me how much I can borrow today

[sgee]

independent advice

I’m going to have to seek independent advice. I joined the scheme in 05 and was never told by MTM there were cause for concern or that HMRC doubted the scheme or had challenged in anyway. I left after 2.5 years and never received anything from HMRC on subsequent SA Tax returns. It was not until bn66 and a year later that I received my first CN.

I was completely in the dark. How would I be aware of options?

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!

[elpinar]

also everyone intimates that the sumoto deal was a really good deal - wasnt it only about 10% off ... where would that get anyone in the grans scheme of things

[robinhood]

I just need to know what the next steps are. I recall from an earlier MP letter that the JR was just one avenue that they were taking. Don't we still get a Special Commissioners hearing now?

[bananarepublic]

This is exactly the kind of advice we need from our official advisors - is there any point hoping they will step in and help us with these rescue plans? For someone like myself I have never dealt with the revenue at this level before and honestly, it is very intimidating.

First point of contact should be your local office as they are dealing with your return. They generally seem pretty helpful. Don't know what happens from that point on though. Presumably to make the payment contingent they would need to get approval from higher up.

I'm not saying we are definitely going to lose in the end, its just that I want to regain some control over events. Having 28 days to scrape together six figures isn't having any control.....

[helen7]

also everyone intimates that the sumoto deal was a really good deal - wasnt it only about 10% off ... where would that get anyone in the grans scheme of things

about 30k