BN66 - Round 2 (Court of Appeal)

[Tax_shouldnt_be_taxing]

You couldn't make this up!

http://theorangepartyblog.blogspot.c...o-chilcot.html

And I watched PMQ today and it holds water.

Misled Parliament and Chilcot? Surely not...

[centurian]

Isn't the Taxman trying to scare Financial Advisors by threatening them that any advice given that reduces the UK's tax take (even something mundane like investing in an ISA) could land them in trouble.

I wouldn't go as far as that. ISA's are pretty much mainstream. In fact the government provide ISA's through NSI, so they'd have a hard job there...

However, I do agree that BN66 is partly about trying to scare financial advisors providing anything other than "mainstream" advice, by demonstrating to potential customers that such advice is worthless.

I can see why MP are fighting this all the way. It's not just about the BN66 money - it threatens their whole operation because it can render meaningless any advice they give.

[Cantthinkof1]

When is a CN not a CN??

Got home tonight to find a 'brown envelope' sitting on the door mat!

Inside were 4 sheets titled 'Self Assessment - Tax calculation' for 2003-2004.
Basically they have worked out what they believe I owe, under the heading 'Tax and Class 4 National Insurance contributions due'.
Is this what people are calling a 'Closure Notice'?
No date is given when payment is expected! and no interest is shown.

However, when I go online and look up that same tax year, although some of the figures match, others don't! The online account does show some added interest, and thus obviously a different total to pay!

So I have two questions!
1. Are they starting to send out these instead of Closure Notices?
2. Why does this computer produced copy not have interest added when the online breakdown does?

Any thoughts?

[smalldog]

http://theorangepartyblog.blogspot.c...o-chilcot.html

And I watched PMQ today and it holds water.

Misled Parliament and Chilcot? Surely not...

hold on a minute, and we are the bad guys!!! makes my blood boil

[Tax_shouldnt_be_taxing]

hold on a minute, and we are the bad guys!!! makes my blood boil

Smalldog, I concur with your sentiments. The reason I brought this up here was to illustrate a parallel to our case. HMT knew or should have known over a period of 10 years that MoD budgets were not what was claimed in a public forum (namely the Chilcot Enquiry). Yet some 2 weeks after Brown made a claim about the MoD budget, he now accepts his "evidence" was incorrect.

Enter BN66 stage left. See the comparisons? What has been claimed to be the case is not necessarily the case (TE63). What was claimed to be a scheme that did not work is not the same as knowing the scheme did not work. But the downside is this. If our PM went before something as grandiose at the Chilcot Enquiry a couple of weeks ago to say one thing (and let's be sure, he had plenty of time to read up on his facts) and accepts 2 weeks later that "Oops!" might apply then we have a big job of getting the same acceptance from HTM/HMRC on the scheme. However, it proves that where there is a will, there is a way.

If anyone watched PMQ today, it was quite odd to see the brief moment of disbelief in Parliament when GB made his comment. It was more concerning that the Tories and the LibDems didn't call for an immediate motion of no confidence.

Hope you get to see it again. BTW, there's a BBC link to some of this on:

http://news.bbc.co.uk/1/hi/uk_politics/8572372.stm

Note the frozen demeanour of the nodding dogs on either side who were otherwise nodding away like their heads could fall off at any moment.

Says it all really.

[smalldog]

gutted Cameron didnt use this as a chance to capture the NuLabour queen, missed opportunity..

[SantaClaus]

gutted Cameron didnt use this as a chance to capture the NuLabour queen, missed opportunity..

Cameron and the Tories are so weak, it is really worrying that Labour might get in for another term

[Clownfish]

The aussies tax offices getting some grief for going retro

Hi All,

Am caught up in this as well, but have only posted when I initially subscribed to the original thread, over a year ago. Most of the info I've got is from this thread, so, what else can one add, other than my thanks to everyone involved in keeping us up to date, and laugh at Donkeys avatar/stories of his pet. BTW, is DonkyRhubarb an Aphex Twin reference or not?


I'm one of the "lucky" ones, and cant help but be a sceptic.
The only certainties are death and (retrospective)-taxes. I've started to work towards getting the pile of money I owe together, and mark it as "lost". Lucky I have it to pay back. Im also fortunate that I've moved %90 of my savings abroad over last 4 years(I no longer reside in the UK for last 2.5 years), so with the weaker pound, my debt has been reduced by around 20% in a year, providing I can move somewhat illiquid funds at something similar to the current rate. Having said all that, it still winds me up big time that we're all in this tulip for doing something that was entirely above board, legal, and then the actually changed the rules and said we went foul.

This forum has put things in perspective for me. Thanks to those who have shared their stories, and I wish them the best of luck through their hardships.

Anyway, the reason I'm posting this.


The Inspector-General of Taxation in Australia ("an independent statutory office to review systemic tax administration issues and to report to the Government with recommendations for improving tax administration for the benefit of all taxpayers")
has issued a report on the Australian Tax Office's(ATO) U-turns. They even use the terms "clarified"...

Apologies its the "raw" report. All other mentions I've found of it are on subscriber only websites.

http://www.igt.gov.au/content/report...view_final.pdf

"Recommendation 1
The Government should consider whether the current legislative framework adequately
provides effective transparency and certainty for taxpayers where the ATO
retrospectively applies new, ‘changed’ or ‘clarified’ views."

Of course, nothing to do with our case directly, but interesting none the less.


Clownfish

[weeboaby]

Got home tonight to find a 'brown envelope' sitting on the door mat!

Inside were 4 sheets titled 'Self Assessment - Tax calculation' for 2003-2004.
Basically they have worked out what they believe I owe, under the heading 'Tax and Class 4 National Insurance contributions due'.

I got one of these one week after a batch of closure notices, so I am not sure they are the same thing (numbers very different). I sent them on to MTM for advice. Knowing my luck, I'll probably get more this weekend as HMRC seem to be in the habit of making sure their harrassment hits home at weekends. They really are driving me to distraction.

[Squicker]

My Fair Share of Tax

I've just been considering buying a painting from the USA and have worked out the tax elements of this purchase, my 'fair share of tax', if you will:

Cost of painting and shipping = £330
Import duty @ 2.5% = £8.25
Import VAT @ 17.5% on 338.25 = 59.19 (call it 60)

Total purchase = 397.44 - call is £400 for the maths

Higher rate income tax paid on the £400 released from my company = £160
VAT paid on the £560 earned by my Ltd = £98 (call it 100 for the maths)

So, for this 330 quid purchase HMRC receive 8.25+60+160+100
= £328.25