Originally posted by Fireship
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BN66 - Round 2 (Court of Appeal)
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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.Comment
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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.Comment
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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.
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Originally posted by smalldog View Post.... But remember how much money MP still have at stake off the back of s58.
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Originally posted by DonkeyRhubarb View Post
Message from Montpelier
.... Montpelier is no longer offering tax avoidance schemes.Politicians are wonderfull people, as long as they stay away from things they don't understand, like working for a living!Comment
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Originally posted by portseven View PostI 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.
I wouldn't have thought scaling back in the UK would affect the overall Group that much.Comment
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Originally posted by smalldogThe minute our SA's become accepted we have ot pay MP back some cash...that was their way of providing some kind of guarantee.....Comment
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Originally posted by swede View Postsorry? *we* have to pay MP some cash?Comment
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Originally posted by DonkeyRhubarb View PostLast 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.Comment
Topic is closed
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