BN66 - Round 2 (Court of Appeal)

[screwthis]

The fact that the new Government have issued a statement, saying they are generally opposed to retrospective legislation, can't hurt but I'm not sure it will make any real difference. The court will be addressing one very narrow question in November - "is s.58 compatible with ECHR?" - and this will come down to points of law, not the views of politicians.

One thing to bear in mind if you cash in your CTD is you will forfeit any benefit from having it. This isn't a problem if you took it out recently but if you've had it a long time then it is worth bearing in mind.

Also, Gold is quite a volatile investment. Take a look at the 5-year chart before climbing aboard the rollercoaster.

Technical Gold Charts and Data - London Fix

Although Santa has advocated buying the precious metal itself, there are easier ways to invest in it. Some of the Gold ETFs are backed by physical gold, and you can hold these in an ISA.

If you're feeling even more adventurous, consider Silver.

As with any trade only 'bet' money you are comfortable loosing. No matter how you look at it this is just a speculative trade like anything else.

If you put £100K into gold and it goes down 30% can you live with that and can you live with the fact that you will see it as (indirectly) HMRC's fault?

[SantaClaus]

As with any trade only 'bet' money you are comfortable loosing. No matter how you look at it this is just a speculative trade like anything else.

If you put £100K into gold and it goes down 30% can you live with that and can you live with the fact that you will see it as (indirectly) HMRC's fault?

I completely agree with DR and screwthis; gold, shares, ETF's or any asset is a risky investment, so only invest money you are happy to lose.

One thing I would add though, if we do see the doomsday scenario of a major global crash, non-physical gold assets such as ETFs may not be worth anything as the companies that list them may go bankrupt too. Whereas gold bullion is something you can stick in a safe deposit box.

[DonkeyRhubarb]

One thing I would add though, if we do see the doomsday scenario of a major global crash, non-physical gold assets such as ETFs may not be worth anything as the companies that list them may go bankrupt too. Whereas gold bullion is something you can stick in a safe deposit box.

There are ETFs which are fully backed by gold bullion, as opposed to futures contracts (paper).

ETF Securities

In a real doomsday scenario, I wouldn't rule out the Government doing a Roosevelt.

The Roosevelt Gold Confiscation Order Of April 3 1933.

[AJDUK]

First time post; in the scheme from the start and I'm already on DR's radar. Have CTD's covering the whole amount because I put 39% of everything I earned from MTM away in savings assuming it wasn't mine until future challenges either came or didn't.

How did you come up with the figure of 39% ?

IIRC it was the % I calculated to be the difference between the tax I was paying on the £20K self employment income and the PAYE I might pay should our claim regarding DTA be disallowed. I didn't get it checked, other than through discussion with another MTM guy, but it turned out to be about right in the end aside from interest of course.

[SantaClaus]

There are ETFs which are fully backed by gold bullion, as opposed to futures contracts (paper).

ETF Securities

In a real doomsday scenario, I wouldn't rule out the Government doing a Roosevelt.

The Roosevelt Gold Confiscation Order Of April 3 1933.

Well, for me this is a completely theoretical conversation as I dont have the funds to invest. But for interests sake:

There's been talk that even ETF's backed by physical stores of gold bullion are a scam. Take a look at this link:
Bullion-ETF's: a multi-purpose scam

As for confiscation of gold. A quick search of the net will tell you how people have stayed below the radar, not that I am advocating that of course.

[smalldog]

Pissing more precious tax payers money down the drain:

"However for Roger Sinclair, of Egos, the most "interesting" inference from the case is that "HMRC undoubtedly threw a lot of resources at it, and ended up substantially losing."

This is from the S660 case on the contractor news page....When are these people going to start pulling together business cases to establish if there is a return on investment worthy of pursuing??

[Morlock]

As with any trade only 'bet' money you are comfortable loosing. No matter how you look at it this is just a speculative trade like anything else.

If you put £100K into gold and it goes down 30% can you live with that and can you live with the fact that you will see it as (indirectly) HMRC's fault?

How about investing in vintage wine? Then it doesn't matter if it loses its market value - you could drink it instead.

[Morlock]

According to an article by Martin Armstrong (who was falsely imprisoned by the US authorities for his beliefs), the world is facing a debt crisis never seen before.

http://www.martinarmstrong.org/files...-7-31-2010.pdf

Frankly, that article looks like the ravings of a nutter.

[Donnie Darko]

If like me you've got no hope of meeting your liability I can't see any point to saving or investing. Why should we scrape by just to hand over the money to the people who put us in this mess?

As the famous saying goes eat drink and be merry for tomorrow we die.

[BolshieBastard]

Pissing more precious tax payers money down the drain:

"However for Roger Sinclair, of Egos, the most "interesting" inference from the case is that "HMRC undoubtedly threw a lot of resources at it, and ended up substantially losing."

This is from the S660 case on the contractor news page....When are these people going to start pulling together business cases to establish if there is a return on investment worthy of pursuing??

Sorry SD but you're labouring under the misconception that HMRC do a cost benefit analysis on things like this. They dont. They just see it as black and white. "The regulations say this. That being the case, we should be able to increase the tax take by xxx%"

Put it another way, HMRC are just a bunch of ignorant unts for this latest S660 failed attack. They really should have been severely criticised by the judge instead of the wrist slap she did give them.