BN66 - Court of Appeal and beyond

[seadog]

Amending S58

jvj, where did you get this from. Just getting a pack together for my MP surgery meeting...

The most appropriate and justifiable date for the amendment to S58 is 12th March 2008.

That is the date BN66 was announced and would be the date which accords with parliamentry Rees rules and HMRC's protocol on introducing legislation to close known tax loopholes.

[patbikeruk]

Changing our returns for the years in the scheme???????

Hi Guys

I know this has probably been done before but in light of our current position it might be good to raise again.

Seeing as the change was a clarification and we made our tax planning based on what we believed to be true. Can we not change the way we were paid etc...... as it was a change made after we had done our planning? I am not sure this is clear but it only seems right that as they have changed the rules should we not be able to change some of the things we did like I would pay more into my pension to recover some of the tax. At the time also had a Ltd company which i could have used instead and paid dividends etc...... I did not really claim any expenses etc....

Just an idea......


Also I still can't see how we can be liable for interest etc when they had to change the law for this to work. Yes according to the law we now may still have to pay the tax (if we don't win at TT or ECHR etc...) but why the interest when we did nothing wrong at the start....... & &

[sjw]

Interest Calculation

DR

Can I clarify something.

Your tables shows approximate percentages due based on the applicable tax year.

However as I understand it from the calculations I saw on the closure notices it is not as simple as applying these rates to the amount due for the tax year, but you actually need to increase the amount due by 50% as HMRC have deemed that we should also have paid half on account for the next tax year.

Is that correct or does your table already take this into account?

Thanks

[sjw]

and another thing...

I don't suppose anyone ever asked Montpelier what liability insurance they had at one of their now infamous recruiting sessions. and if they had, how it applied?

I sure wish i had...

[Morlock]

I don't suppose anyone ever asked Montpelier what liability insurance they had at one of their now infamous recruiting sessions. and if they had, how it applied?

I sure wish i had...

I think their policy was with Ladbroke's

[BrilloPad]

I don't suppose anyone ever asked Montpelier what liability insurance they had at one of their now infamous recruiting sessions. and if they had, how it applied?

I sure wish i had...

They made it clear in my session that they might lose. And then I would have to pay.

[DonkeyRhubarb]

DR

Can I clarify something.

Your tables shows approximate percentages due based on the applicable tax year.

However as I understand it from the calculations I saw on the closure notices it is not as simple as applying these rates to the amount due for the tax year, but you actually need to increase the amount due by 50% as HMRC have deemed that we should also have paid half on account for the next tax year.

Is that correct or does your table already take this into account?

Thanks

My table tries to take this into account. I can't promise the figures are 100% spot on but when I compared them with a statement I had from HMRC they were very close.

If you are concerned you could contact HMRC and ask for a statement. Just make it clear you want figures including interest.

[patbikeruk]

made it clear in my session ............

They made it clear in my session that they might lose. And then I would have to pay.

Not to me said worst case was back 1 year and even so we could still do IR35 if it failed..... So we were still better off.....

[marcuss]

Not to me said worst case was back 1 year and even so we could still do IR35 if it failed..... So we were still better off.....

The seminar I attended I clearly remember them saying the worse case scenario would be that we would have to pay tax but no NI.... anybody?

[screwthis]

The seminar I attended I clearly remember them saying the worse case scenario would be that we would have to pay tax but no NI.... anybody?

Oh yeah. Now you mention it...