Major Tax Avoidance Scheme Closed Down

[ChimpMaster]

Does anybody know which scheme this was and, if any back tax was charged.

I am currently with the MTM scheme in the Isle of Man and the Inland Revenue are preparing their attack.

MTM?

[ChimpMaster]

There is nothing to stop Hector decreeing that, on consideration, such dividends should attract an extra 25% windfall tax, for example. If he does, that would be back-dated.

Yes but do you really believe he can get away with it? Scope of regulations etc. yes I agree, but, to use your example, I would expect :
"such dividends should attract an extra 25% windfall tax, from this point onwards"

I cannot for the life of me see how he can claim tax for bygone years. I can understand why he'd like to try, and his reasoning behind it, but it is against all basic principles of a free world capitalist country. HMRC will not get away with it.

And I also agree that running your own Ltd Co is the safest mechanism, so long as you have a good contract and conditions so as to be outside of IR35.

[malvolio]

I cannot for the life of me see how he can claim tax for bygone years. I can understand why he'd like to try, and his reasoning behind it, but it is against all basic principles of a free world capitalist country. HMRC will not get away with it.

They can. It's rules, not laws. They can be made to say whatever they want. Even so, GB has paid no attention to parliament or democracy or freedom or fairness in the last 8 years. He has paid no attention to the longevity of the UK economy. He has deliberately set out to take short-term gains from successful businesses in order to fund some screwed-up variant of a Marxist social engineering programme that has got us where we are now. He has deliberately allowed retrospective tax regulations in case he missed something first time round. NL is right now passing a bill to allow ministers to rewrite law without recourse to Parliament. And as of now, the chief architect of this mess is likely to be our next PM.

Given the disconnect between your comment above and current reality, I assume you will not be voting for NL next time round?

[ChimpMaster]

Given the disconnect between your comment above and current reality, I assume you will not be voting for NL next time round?

No no and No!! But all of those plebs down the council estate (including 13 yr old Charmain with her 3 kids), as well as the economic asylum immigrants are NL's best friends and will out vote the hard working by a large factor. After all, free hand outs are what Britain is famous for.

[ASB]

Hmm, when did "intention of Parliament" get into English Law?

It's actually the "will of parliament". If I remember correctly it was the reformation.

But, it's only relevant when the written statute is unclear in it's legal interpretation, thus if the statute does not achieve what parliament intended but is legally clear that is just tough.

[mcquiggd]

Everything this government passes is unclear in its interpretation in law, for probably that reason.... to make it arbitrarily backdated is simply the obvious way for them to behave...

Its still highly ironic that despite nu labour's best efforts to eliminate the House of Lords, that actually the 'Upper House' is still defeating them .. or at least making them try harder.. in their efforts to subvert whatever democracy ever existed in the UK. It now seems it was in fact heriditary peerage that was the best defence against transitory interference in an established Parliamentary system by people such as Beckett, Blair, Irvine, Mandelson et al


This poisonous bunch of w*nkers known as labour deserve to experience whatever old Trosky felt, when he allegedly cried out 'Ive been shot...!'....

[threaded]

ASB: I understand the will of parliament concept. But this intention of parliament thing is something from the continentals.

As I understood it the courts are supposed to interpret what is actually written in an Act of Parliament, not to second guess what they intended to mean when it was written.