BN66 - Round 2 (Court of Appeal)

[moira under the stairs]

Agreed, however it would’ve been nice to see HMRC put on the spot by asking for evidence of this which I seriously doubt they would’ve been able to provide (even if given sufficient time to retrieve the appropriate documentation) which would’ve shown them in rather a bad light….. After all there is a very big difference between suspecting someone’s identity and stating that you know who they are!!

If you can show someone is willing to make such wild claims without any basis in fact you can then start to question their entire decision making process based on their willingness to fudge the facts in their favour. With those sort of morals they’ll soon be introducing legislation without bothering to perform the required impact analysis because they suspect it’s not necessary – oh wait, they’ve already done that!!

I’m just glad the judges treated this with the contempt it so obviously deserved!

Its a shame the Judges don't treat the rest of their case with the contempt that it obviously deserves...

[DonkeyRhubarb]

Announcement

Last week I heard a rumour from another promoter that Montpelier were making substantial redundancies in the Isle of Man. This has now been confirmed and I wanted you to read this here first.

I asked Montpelier if they had a message to convey to clients, and I’m repeating this here verbatim. Apart from this, I don’t have any further information.

Message from Montpelier

In light of the changing attitude and climate in the UK to tax planning, where tax evasion and tax avoidance are wrongly being regarded as the same and legislation is being reinterpreted backwards, Montpelier is no longer offering tax avoidance schemes.

It will however continue to support clients who have implemented prior schemes and offer non aggressive bespoke planning hence the need to scale down on staff levels.

It will also continue to pursue s58.

[smalldog]

I dont read it that way squicker. I think MP are smart enough to realise tax avoidance is a dying trade in some cases. But remember how much money MP still have at stake off the back of s58.

[Clownfish]

Mont P

Thanks for the info DR. Not the best news.

In my opinion, as much as it affects us very deeply as individuals, the whole point the retrospective legislation wasn't to recoup lost tax revenue, it was make it fecking difficult for anyone and everyone using or involved in any tax minimization/avoidance scheme that was mass marketed.

So, I guess that means that HRMC have won their battle quite a while back, its just that Mont P said "uncle".

But really, all I care about is our battle, which goes on... at least until we hear back from the three chaps in curly wigs.

cf

[Clownfish]

.... But remember how much money MP still have at stake off the back of s58.

Can some please PM/explain this to me please.

cf

[portseven]

Message from Montpelier

.... Montpelier is no longer offering tax avoidance schemes.

I would be supprised if they don't still offer Tax planning advice though, and vehicles to help with that. Is that not the basis for a large part of their business model? As well as a lot of other firms.

[DonkeyRhubarb]

I would be supprised if they don't still offer Tax planning advice though, and vehicles to help with that. Is that not the basis for a large part of their business model? As well as a lot of other firms.

They have diversified over recent years, through mergers and acquistions, into mainstream accounting and financial services. Also, I presume they will still offer tax planning outside the UK.

I wouldn't have thought scaling back in the UK would affect the overall Group that much.

[swede]

The minute our SA's become accepted we have ot pay MP back some cash...that was their way of providing some kind of guarantee.....

sorry? *we* have to pay MP some cash?

[Cosmo]

sorry? *we* have to pay MP some cash?

Not necessarily "you", it depended on the fee structure when you joined the arrangement.

[ContractIn]

Last week I heard a rumour from another promoter that Montpelier were making substantial redundancies in the Isle of Man. This has now been confirmed and I wanted you to read this here first.

I asked Montpelier if they had a message to convey to clients, and I’m repeating this here verbatim. Apart from this, I don’t have any further information.

Message from Montpelier

In light of the changing attitude and climate in the UK to tax planning, where tax evasion and tax avoidance are wrongly being regarded as the same and legislation is being reinterpreted backwards, Montpelier is no longer offering tax avoidance schemes.

It will however continue to support clients who have implemented prior schemes and offer non aggressive bespoke planning hence the need to scale down on staff levels.

It will also continue to pursue s58.

Thanks for the post DR. Does that mean the IOM office is closing? Who do we contact when we get demands/notices from HMRC. Is TQ and NW still at MP?