BN66 - Court of Appeal and beyond

[OnYourBikeGB]

Hi Guys

I was in Court this morning together with three or four others.

Thank-you Emigre, it's good to have some detail.

[Leyther70]

agree that it would seem to weaken their case .... plus, surely HMRC would just say that you had a tool to stop the interest at any time (CTD) but if you chose not to take it why should they now give a deal on interest .......

I guess that depends on how many of us they wan't to make bankrupt and risk gettng jack from.

I think for most of us its the interest in this situation that is particuarly unfair, they sat on their arses for 8 years and did nothing while the interest racked up, hence if they have any decency in them they would accept that and come to the table.

Even if they wont deal on the interest then at least given the sums involved they should be willing to do something on the payback timescales, if they try and give us all 6m to pay Im sure they would get far less due to bankrupcies than they would if they allowed us 5years to pay.

[swede]

Thank-you Emigre, it's good to have some detail.

hear hear.

[AJDUK]

Hi Guys

I was in Court this morning together with three or four others.
...
It was good to catch up with those there. See you again in 15 months.

Thank you Emigre. This info is very interesting. People should stop and think what all this really means before assuming the worst.

Did you or anyone else get chance to speak to any of our legals to gain their opinion of where we are?

[IH8GordonB]

I guess that depends on how many of us they wan't to make bankrupt and risk gettng jack from.

I think for most of us its the interest in this situation that is particuarly unfair, they sat on their arses for 8 years and did nothing while the interest racked up, hence if they have any decency in them they would accept that and come to the table.

Even if they wont deal on the interest then at least given the sums involved they should be willing to do something on the payback timescales, if they try and give us all 6m to pay Im sure they would get far less due to bankrupcies than they would if they allowed us 5years to pay.

If it goes to the SC you could have several years to put money into CTDs before any final demand if we still lost!

[Dieselpower]

I guess that depends on how many of us they wan't to make bankrupt and risk gettng jack from.

I think for most of us its the interest in this situation that is particuarly unfair, they sat on their arses for 8 years and did nothing while the interest racked up, hence if they have any decency in them they would accept that and come to the table.

Even if they wont deal on the interest then at least given the sums involved they should be willing to do something on the payback timescales, if they try and give us all 6m to pay Im sure they would get far less due to bankrupcies than they would if they allowed us 5years to pay.

This matter has to go to SC - as Emigre pointed out, we are challenging the will of parliament. Theres one bloke in this scheme who stands to lose tens of millions of pounds - he is a client of MP. That man alone will surely ensure this matter is dealt with in the appropriate court.

[BolshieBastard]

The big IR35 case was lost in the High and CoA courts was it not? They eventually won it in the Supreme (or what ever it was called back then) did they not?

Incorrect comparison imo. The big IR35 case you refer to was against one company's tax treatment. The decision against HMRC didnt result in IR35 legislation being overturned and IR35 is very much on the statute books. The decision didnt materially change IR35 and really, only gave legal pointers to what would determine IR35 caught or not (and even there, there are some vagaracies!)

As regards MP fighting with one hand behind their back if negotiating a settlement, I dont agree. MP would be negotiating only on behalf of those who wanted such a settlement.

Those that dont wont. I dont see court action by those who dont want to settle in anyway shape or form weakens their arguments of case against BN66.

Still havent seen any announcement by MP which is strange since they supposedly had a statement prepared for today.

I really find it hard to believe they didnt have a ready made statement for either outcome but, given their track record with communication, maybe I shouldnt be surprised one jot.

[Leyther70]

CTD Question

Changing the subject a little from todays announcement.

If the tax owed is say 40K and the current interest acrrued is 35K then would a CTD of 40K stop the interest accruing further or would it need to be taken out on 75K?

[IH8GordonB]

Changing the subject a little from todays announcement.

If the tax owed is say 40K and the current interest acrrued is 35K then would a CTD of 40K stop the interest accruing further or would it need to be taken out on 75K?

40K, there is no compound interest.

[Buzby]

MP response

Incorrect comparison imo. The big IR35 case you refer to was against one company's tax treatment. The decision against HMRC didnt result in IR35 legislation being overturned and IR35 is very much on the statute books. The decision didnt materially change IR35 and really, only gave legal pointers to what would determine IR35 caught or not (and even there, there are some vagaracies!)

As regards MP fighting with one hand behind their back if negotiating a settlement, I dont agree. MP would be negotiating only on behalf of those who wanted such a settlement.

Those that dont wont. I dont see court action by those who dont want to settle in anyway shape or form weakens their arguments of case against BN66.

Still havent seen any announcement by MP which is strange since they supposedly had a statement prepared for today.

I really find it hard to believe they didnt have a ready made statement for either outcome but, given their track record with communication, maybe I shouldnt be surprised one jot.

Lets hope DR can get MPs view on soon, as I think most of us seemed to think this would not be resolved today.