BN66 - Round 2 (Court of Appeal)

[helen7]

As I predicted a few months ago....Montpellier drop tax avoidance and change business structure.

I got abusive messages for suggesting it at the time.

I expect them now to drop s58 if HMRC win the JR.

[Vallah]

From what I've heard the IOM office isn't closing, they're just scaling back, which happens a lot in this industry. Charterhouse over here have laid lots of people off and remployed them several times over the years.

I would expect MP to honour their commitments though.

[smalldog]

ok my two pennys worth before we all get over excited....

MP as an organisation will continue to exist (IMHO), as they are a pretty large organisation now and they are, as expected, going to restructure their business model to take account for HMRC's stance.

For MP to continue to survivie as a business in the planning industry they need to win this case eventually, it would massively tarnish their credibility and put their entire business at risk should this go belly up.

So if they were just an organisation borne out of S58 planning then I would be worried, but they arent and there are financial incentives and business surivival motives for them to keep fighting this to the death!!

[swede]

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

must admit - that didn't ring any bells with me. Presumably this was made clear and wasn't "somewhere in the small print"? I joined the scheme fairly late (~2004).

[Fireship]

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.

So I guess that means the current planning continues they just cease to market it or carry over to new roles therefore bringing it to an end via natural attrition?

[smalldog]

So I guess that means the current planning continues they just cease to market it or carry over to new roles therefore bringing it to an and via natural attrition?

Fireship, spot on as far as Im concerned, thats how I read it...as I said if S58 planning was the only thing they did then maybe the business would fold...but it isnt...

[Cosmo]

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?

NW & TQ are based in Manchester - still there, so still contact them, I guess.

[CanPayButWouldRatherNot]

big up to TQ AND NW

NW & TQ are based in Manchester - still there, so still contact them, I guess.

and can I say a big up the TQ and NW .... respect to them for their good work in the past ...

[Fred Bloggs]

NW & TQ are based in Manchester - still there, so still contact them, I guess.

I can't help wondering if these employees are all paid through the EBT schemes? If they aren't, I wonder why not?

[Freelancer]

HMRC raid in the IOM - files and documents

any knowledge about the current situation regarding the files and documents seized in the IOM and MP appealing against the delivery to the UK??