BN66 - Round 2 (Court of Appeal)

[xtal]

I don't think for one second that HMRC don't know who has and who hasn't got CTD's. If you believe otherwise it's up to you. If HMRC didn't know who had CTD's, threads like this and the myriad that preceded it would have got them to look into it further.

In the grand scheme of things it makes not one bit of difference whether they know or don't know. You, me, all of us are getting zero concessions, if we lose at the very end of the road, we will be paying back every penny of what they think we owe in addition to every penny of compound interest.

[KiwiGuy]

Received this tip off concerning a Wealth Management (WM) company with clients affected by s58.

Of the Big 4 accountants, we now have 3 lined up against HMRC:

HMRC PwC
HMRC KPMG
HMRC Ernst & Young

its funny how 4 of the biggest accounting firms thought they were with in the law, but still HMRC think we are wrong, i dont think the Judges can just ignore this and say we are in the wrong and we should of known better.

[smalldog]

its funny how 4 of the biggest accounting firms thought they were with in the law, but still HMRC think we are wrong, i dont think the Judges can just ignore this and say we are in the wrong and we should of known better.

and its just insulting that alistair darling tried to reassure the business community they wouldnt be hit with tax surprises and would be consulted on policy.....total B*llocks otherwise these guys wouldnt be litigating, lip service once again. Just wait and see what happens if they now threaten to pull out of the UK, who could blame them!

[PlaneSailing]

Received this tip off concerning a Wealth Management (WM) company with clients affected by s58.

Of the Big 4 accountants, we now have 3 lined up against HMRC:

HMRC PwC
HMRC KPMG
HMRC Ernst & Young

Do you have any idea as to what their action might be? Are
they launching their own JR or are they planning something else?

[MuddyFunster]

we will be paying back every penny of what they think we owe in addition to every penny of compound interest.

HMRC only charge simple interest; not compound. Unless of course they start to think they're missing a trick and retrospectively start charging compound interest from 1987

[DonkeyRhubarb]

Do you have any idea as to what their action might be? Are
they launching their own JR or are they planning something else?

I am trying to find out. However they have told clients that...

...they believe this legislation will not be accepted by a higher court that has to rule on the facts of the law and not ‘social interpretation.’

[DonkeyRhubarb]

Current state of play

Please refer to the first post of the thread for latest status of each case.
http://forums.contractoruk.com/1077120-post1.html

[Tax_shouldnt_be_taxing]

I am trying to find out. However they have told clients that...

...they believe this legislation will not be accepted by a higher court that has to rule on the facts of the law and not ‘social interpretation.’

A fact not lost on many people I think. Even Parker acknowledges there is a compelling argument. Pity, he parked it (excuse the pun) in favour of tree hugging.

Yet, this very point keeps getting ducked by those who say the scheme does not work. Except for the savvy bloke in HMRC whow wrote TE63. See a pattern here? So let's hope the matter gets back to the facts and written law soon as I don't want to be judged on the result of nailing jelly to a wall and seeing if it sticks! Roll on CoA. Hope they don't like jelly.

[DonkeyRhubarb]

nailing jelly to a wall and seeing if it sticks

Is that the new HMRC Mission Statement?

[TheBarCapBoyz]

its funny how 4 of the biggest accounting firms thought they were with in the law, but still HMRC think we are wrong, i dont think the Judges can just ignore this and say we are in the wrong and we should of known better.

Good point. And my guess is, since the accountancy firms carry more weight than "Huitson" (aka one of the little people) they won't have their arguments brushed aside in the same patronising way that Parker did, with all that "every taxpayers dream" crap.

"I have a dream..."