BN66 - Court of Appeal and beyond

[ALMAC]

Time to give up worrying

Talked to a number of people who have faced bankruptcy and it appears it's not the worst thing in the world.

Also it appears that if you are bankrupt for £5000 or £300000 it doesn't appear to make much difference.

Enjoying life and living for the moment seems good advice as we could get run over by a bus tomorrow. The high life for 5 years and then facing the worst would be preferable to living in misery for 5 years and then facing the worst.

Probably will change my mind when i've sobered up.

[smalldog]

Im surprised no one appears to have picked this up

"David Gauke, Exchequer Secretary to the Treasury, said: ‘Although these numbers show continued progress by HMRC in reducing the tax gap, there is no room for complacency. Just in the last few weeks we have challenged offshore tax evaders, closed tax avoidance loopholes and created a new HMRC unit to ensure that the wealthier members of society pay their share.”

and

"We will continue to take action to prevent a minority of rule breakers dodging their responsibility to pay the right tax at the right time.”

Britain 'lost' £35bn in uncollected taxes last year - Telegraph

Those who keep on saying 'we'll win' need to seriously make alternative arrangements imo instead of shying away from the reality.

speaking personally i think we will eventually win and I can pay, my views have got nothing to do with shying away from anything and not being a realist.

[normalbloke]

"We will continue to take action to prevent a minority of rule breakers dodging their responsibility to pay the right tax at the right time.”

I did pay the right tax at the right time, according to the law at the time.

[Fireship]

I did pay the right tax at the right time, according to the law at the time.

Agreed, this is exactly what makes this entire situation so wrong!!

[neilson9]

Oh Joy

After having my 2007 CN appealed, HMRC have reissued it - and after 10 days in the post it was supposed to have until 22nd Sep to appeal or payup (5% penalty if late). A week later I receive a letter from the tax collectors who are chasing the debt. I spoke to them and they said they will send it back to HMRC, today I receive another letter saying pay immediately or they will take legal action - the letter was dated the 15th of September. Seems like even though MP have appealed it the process is still going - I will call MP monday but this is really kill me!

[DonkeyRhubarb]

After having my 2007 CN appealed, HMRC have reissued it - and after 10 days in the post it was supposed to have until 22nd Sep to appeal or payup (5% penalty if late). A week later I receive a letter from the tax collectors who are chasing the debt. I spoke to them and they said they will send it back to HMRC, today I receive another letter saying pay immediately or they will take legal action - the letter was dated the 15th of September. Seems like even though MP have appealed it the process is still going - I will call MP monday but this is really kill me!

Sadly this is par for the course. HMRC is not a very joined up organisation.

In this situation it's best to leave it to MP to bang heads together.

[busgrw]

Tax insurance

Hi,

Was just wondering, is it advisable to take out the relevant insurance to avoid the sort of payments etc that this sort of thing can bring on to the unsuspecting contractor. Although not involved in this fight I am worried that the HMRC might come knocking on my door in the future as I was contracting through Consultant Technologies in the past and am currently using AML.

Hope its ok for me to ask this question here as seems the best place to ask given the experience here.

Thanks.

G

[DonkeyRhubarb]

Was just wondering, is it advisable to take out the relevant insurance to avoid the sort of payments etc that this sort of thing can bring on to the unsuspecting contractor.

If you are referring to insurance from the likes of PCG and QDOS, these only cover IR35 investigations. It wouldn't help if you get investigated for using a scheme.

[GottaBeOptimistic]

I understand a letter is going out tomorrow.

I think you will like it.

Hi DR. I too received the letter which is very good news from Montpelier. Looking back at previous posts about this, this could mean that we will be waiting a further 3~5 years+ until a decision is finalised. Is this the common viewpoint ?

[GottaBeOptimistic]

Talked to a number of people who have faced bankruptcy and it appears it's not the worst thing in the world.

Also it appears that if you are bankrupt for £5000 or £300000 it doesn't appear to make much difference.

Enjoying life and living for the moment seems good advice as we could get run over by a bus tomorrow. The high life for 5 years and then facing the worst would be preferable to living in misery for 5 years and then facing the worst.

Probably will change my mind when i've sobered up.

ALMAC - I agree with your point. I stopped worrying over this a year or so ago. I can't pay it and have little/no chance of reducing the debt so what will be will be.

I recall seeing some posts going out recently about bankrupcy and what the affect this could have on the marital home. Someone on this forum indicated that if your house is joint owned, then HMRC have no legal grounds to your spouses share and can only persue the person with the debt.

So in this instance, HMRC are only able to chase my half of the asset value ?

Has anyone on this forum taken professional advice on this ?