BN66 - JR Judgement Day

[smalldog]

"NORWAY: Supreme Court has overturned Norwegian Parliament's plan on transition to new shipping tonnage taxation system. Plan to apply change retrospectively has been removed and new tax assessment has to be carried out."

it wouldnt actually surprise me if we get a similar kind of assessment when it goes to the top judges....think they will ask HMRC to justify the need for the retrospection based on an accurate assessment, not someone just throwing around the usual £200m..why parker didnt ask anything like this I dont understand..he just took it as read that they were accurate in their assessment of monies that could be realised, and based on the fact this was an assessment made by a politician he should know better than to just trust what they say

[VictorValiant]

The Link

For those looking for a link..........

http://www.ft.com/cms/s/0/a5df20c4-1...44feab49a.html

Deals with major companies but the overriding principle ie. retrospection is one we are all familar with

[DonkeyRhubarb]

DR thats not possible as you know while our CN's are in appeal.

That's why I used the words "trying something". As we know, they don't always play by the rules, not even their own rules.

[DonkeyRhubarb]

Keep those votes coming

The Poll serves 2 purposes

1) it highlights the degree of potential hardship
2) but, just as importantly, it also shows our strength in numbers

Don't be put off voting just because your answer would be No.

Please register and vote.

http://forums.contractoruk.com/register.php

[zippo]

HMRC on line....

Any one else unable to get into the their account summay within their Self Assement online account ? "error code SA001 contact HMRC online support"

[smalldog]

zippo mine is working fine and it shows an overpayment!!! what dya reckon my chances are....hahaha

[zippo]

zippo mine is working fine and it shows an overpayment!!! what dya reckon my chances are....hahaha

If I make a decision on an answer to your question now can i come back at anytime later and change it ?

[smalldog]

If I make a decision on an answer to your question now can i come back at anytime later and change it ?

only if its inline with social policy

[smalldog]

Check the statement of account with your CNs. Mine did include interest.

If you are registered with the Government Gateway, then the figures shown on-line do not include interest.

If you were in the scheme a long time then there will be a huge difference between the total with and without interest.

In my case, tax/nic was in the order of £100k; with interest £150k.

Quick and Dirty Estimate
This works in my case but may not for others.

To get an estimate of tax/nic, add up the total trust income for the years in the scheme. Then multiply by 0.4 (40%).

It should be obvious whether the figure you are looking at includes interest or not. If it is over 50% of the total trust income, then it must include interest, since the maximum tax rate is 40%.

DR I agree the columns on the gateway in the interest field are blank, however I have a giant adjustment applied to one specific tax year which is an interest charge for all tax years so its not completely clear on the portal...just trying to let people know they should check their individual situation

[DonkeyRhubarb]

so its not completely clear on the portal

Why does that not surprise me. I think you are right in saying that everyone needs to check their own situation in terms of tax/nic liability and interest accrued so far.