BN66 - Court of Appeal and beyond

[Boycie]

I received a letter today from Montpelier through the post - a debriefing following the CoA - anyone else receive this?

[SantaClaus]

Unfortunately, I wouldn't feel quite so comfortable if I were you. OECD Article 27 'Assistance in the collection of taxes' means that HMRC can ask a foreign government to collect taxes from a UK citizen who owes taxes and has moved abroad. Not sure if Switzerland has an agreement with the UK on this. Not all countries do. You'd have to check. Most EU countries do and common wealth countries, AFAIK.

HMRC tentacles go everywhere

I wouldn't feel too safe. Switzerland has had a lot of pressure put on it from other countries. Just look at how UBS had to give details of Swiss bank accounts to the USA.

Governments are always forming new agreements with countries, especially those that they trade with.

What might be a safe country today, may be a country that co-operates with the UK in the future.

[Leyther70]

Unfortunately, I wouldn't feel quite so comfortable if I were you. OECD Article 27 'Assistance in the collection of taxes' means that HMRC can ask a foreign government to collect taxes from a UK citizen who owes taxes and has moved abroad. Not sure if Switzerland has an agreement with the UK on this. Not all countries do. You'd have to check. Most EU countries do and common wealth countries, AFAIK.

HMRC tentacles go everywhere

This is something I am very interested in myself, I was recently back in the UK and spoke to someone who has worked for HMRC for > 30years.

Now this was a chat over a pint I must add here but I asked about collection overseas and he said while the have DTA with most countries he thought they only had collection agreements with 2 countries, namely Norway and New Zealand (I guess they like 'N's).

I'd be interested if anyone knows for sure if this is the case.

BTW I'm not advocating doing a bunk with this!

[sjw]

I've read my agreement and my 4% is only due should we lose..... That's why I've not repayed any of the 4% loan to MP to date, nor have they requested that I do so....

I'm guessing you also haven't bothered to check what agreements others have in place!!

Oh and another thing, you're wrong about MP sitting on a big pile of cash, but I'm guessing you still haven't bothered to do and DD hence the ill informed nonsense continues to flow.....

then you're lucky - MP have already taken the extra 4% from me despite the fact that when they did so I had already received notification from HMRC that they were challenging the returns in question.

[DonkeyRhubarb]

Be careful very what you say on here.

HMRC have been known to monitor the forum in the past.

[OneUnited]

Gutted

“Like everyone else I was gutted on Monday morning. As I don’t have means to pay I’m now just hoping to hang onto my house until the SC rules although I can’t see on what grounds MP will go forward with. All the arguments put forward were totally shot down by the judges. Has anyone heard how the Steed / KPMG case is going? And is it right that if they are successful then we can join forces with them?”

[SantaClaus]

Be careful very what you say on here.

HMRC have been known to monitor the forum in the past.

Yep, it's their favourite read now the News of The World has gone.

Hell, they even quoted the donkey in court. Neeeeeiighhhhh!

[smalldog]

its too soon to take any action againt MP and is only appropriate if and when they lose and pull down the shutters. As has already been said any legal action launched against them while this still continues would detract precious resources they could better use towards fighting HMRC.

Its something to bear in mind maybe for the future but not yet IMHO

[Fireship]

Question

Quick question:

Our house is in joint ownership and I’d like to protect it against bankruptcy should the worse happen (though I’ve no idea how I’ll continue to pay the mortgage with no job or future!!). I understand that HMRC can only come after my half however that in itself would involve a forced sale in order to release my half of the equity.

Any ideas how I would go about transferring it into my wife’s name in such a away that HMRC couldn’t touch it?? I understand that simply transferring assets isn’t possible as HMRC can still come after them as the transfer occurred during a period where a perceived debt was under dispute and as such would be regarded as attempting to falsely reduce ones net worth…. However could my wife legally buy me out at current market value?? That way the house would be hers and HMRC would then target the proceeds of the sale rather than the house??

I’m not intending to find myself in such a position but it’s better to research all options now in order to be prepared! If I lose everything including the shirt off my back then I’d rather it be in a way I have some control over and leaves my children in familiar surroundings to sleep at night.

[Leyther70]

Quick question:

Our house is in joint ownership and I’d like to protect it against bankruptcy should the worse happen (though I’ve no idea how I’ll continue to pay the mortgage with no job or future!!). I understand that HMRC can only come after my half however that in itself would involve a forced sale in order to release my half of the equity.

Any ideas how I would go about transferring it into my wife’s name in such a away that HMRC couldn’t touch it?? I understand that simply transferring assets isn’t possible as HMRC can still come after them as the transfer occurred during a period where a perceived debt was under dispute and as such would be regarded as attempting to falsely reduce ones net worth…. However could my wife legally buy me out at current market value?? That way the house would be hers and HMRC would then target the proceeds of the sale rather than the house??

I’m not intending to find myself in such a position but it’s better to research all options now in order to be prepared! If I lose everything including the shirt off my back then I’d rather it be in a way I have some control over and leaves my children in familiar surroundings to sleep at night.

I once looked into this myself a while back for a totally different reason but was told that the courts take a very dim view on any such transactions, however if your serious you should probably seek professional advice rather than word of mouth off here.

Good Luck