BN66 - Round 2 (Court of Appeal)

[Squicker]

But that would imply HMRC take action before we reach the final court

After the COA, there is the Supreme Court and then Europe.

Correct me if I'm wrong, but if that fails, then every one of us has the chance to go to court individually which will have the unfortunate effect of clogging up the system.

I think we need definitive answers on this rather than mere speculation!

Well, I guess Helen7's interpretation is that we can't be sure HMRC will stand by whatever statement they gave to MP about holding fire until the legal process has expired. Which, given the current climate and political posturing, doesn't sound an unreasonable assessment of their position. We can only speculate.

Sorry to keep asking this, but could anyone point me in the direction of a formula for working out the interest due? I did a search but couldn't turn anything definitive up.

Thank you.

[swede]

Well, I guess Helen7's interpretation is that we can't be sure HMRC will stand by whatever statement they gave to MP about holding fire until the legal process has expired. Which, given the current climate and political posturing, doesn't sound an unreasonable assessment of their position. We can only speculate.

Sorry to keep asking this, but could anyone point me in the direction of a formula for working out the interest due? I did a search but couldn't turn anything definitive up.

Thank you.

This is rough but it works!

http://forums.contractoruk.com/accou...ml#post1066442

[PlaneSailing]

Inside HMRC

This looks like interesting news....

BBC News - Unpaid tax of £1.5bn 'could be written off'

[DonkeyRhubarb]

Accrued Interest

This is rough but it works!

http://forums.contractoruk.com/accou...ml#post1066442

Here are the latest estimates. It's not exact but near enough.

Tax Year..........%
2001/2.............50
2002/3.............43
2003/4.............37
2004/5.............30
2005/6.............23
2006/7.............16
2007/8..............8

[Squicker]

Here are the latest estimates. It's not exact but near enough.

Tax Year..........%
2001/2.............50
2002/3.............43
2003/4.............37
2004/5.............30
2005/6.............23
2006/7.............16
2007/8..............8

Thanks Swede and DR.

As I suspected, the interest completely screws me. If it weren't for that I'd be able to meet what is likely to be demanded.

Well, that settles it. Continue as I am and don't work too hard, it'll all be taken anyway, so buggered if I am working flat out 12 months a year just to fill HMRC's coffers. I'll view this is a way of relieving me of my rat-race career, at least it wasn't a heart attack that did it!

[sjw]

Mr Alexander is well qualified to talk about tax evasion...

And here's me thinking it was illegal.

So, if you are thinking of legging it abroad, remember this would be morally indefensible.

BBC News - Alexander launches 'ruthless' tax evasion clampdown

"Tax avoidance and evasion are unacceptable in the best of times but in today's circumstances it is morally indefensible."

Danny Alexander, new Treasury chief, avoided capital gains tax on house - Telegraph

[OnYourBikeGB]

This looks like interesting news....

BBC News - Unpaid tax of £1.5bn 'could be written off'

It does, doesn't it? Over 2 years old and open to legal challenge? Hmm, I think we fit that criteria and then some. Don't want to get my hopes up, but they know they are in for a very long, hard fight with us. Maybe signs of a more pragmatic approach, especially as it would allow them to keep retrospection as a legitimate and no-longer challenged strategy. Hmm.

[robinhood]

But that would imply HMRC take action before we reach the final court

After the COA, there is the Supreme Court and then Europe.

Correct me if I'm wrong, but if that fails, then every one of us has the chance to go to court individually which will have the unfortunate effect of clogging up the system.

I think we need definitive answers on this rather than mere speculation!

I don't believe HMRC will try and enforce collection before the appeal process has run its course, my main concern is If we lose by a margin of 3-0 in the appeal court, Montp might consider that a subsequent appeal on the decision might not be viable

[Squicker]

I don't believe HMRC will try and enforce collection before the appeal process has run its course, my main concern is If we lose by a margin of 3-0 in the appeal court, Montp might consider that a subsequent appeal on the decision might not be viable

I think MP have given us a commitment to fight it all the way, they've stuck by their word to date.

When you say lose by a margin, what actually happens in the COA, I am assuming it's not a single judge from what you are saying?

[DonkeyRhubarb]

I think MP have given us a commitment to fight it all the way, they've stuck by their word to date.

When you say lose by a margin, what actually happens in the COA, I am assuming it's not a single judge from what you are saying?

There are 3 judges - see link to court listing in 1st post. The judgment could be unanimous (3-0) or a majority (2-1) but the wording of the judgment is equally important.

I really don't think there is any point in us speculating what might happen since there are simply too many variables.

Apart from anything else, there's also PwC's completely separate argument being heard at the same time, which could get referred to the ECJ.

As for HMRC trying to enforce collection, Montp are prepared for this.