BN66 - Court of Appeal and beyond

[Maddog]

Dogs, Stable Doors, CTD's

Paying into a CTD is not like paying on account. The money in a CTD still belongs to you and you can withdraw it at any time (although you lose all the benefit of having had it).

Branningan has never once mentioned CTDs in his letters. Funny that.

I know its a bit like "closing the stable door", but with an uncertain timeline to conclude, I am belatedly preparing to go down the CTD route too. The low base rates make it just affordable to re-mortgage my house to cover the figure to negate future interest. I have requested MP provide me the correct figures and process to complete this.

I could not trust my investment skills to try and beat the HMRC's interest rate of 3.5% which was plan B. I considered the Euro Lottery and Vegas options too, but flipped the coin and it landed on tails, so CTD it is !

Any clever buggers who have a better idea, please PM me (the Dog is always for turning)

Dog

[Emigre]

As a matter of interest who sent the letter. The reason i ask is that Montpelier Tax Planning (Isle of Man) Ltd has been in liquidation since September 2011. It owes creditors circa £7 million.
This company owns the rights to success fees (that depend on successful outcome of litigation) of circa £2 million.

So a tax planning company has creditors of £7 million? Am I to assume that those creditors are in fact contingent creditors, and only exist if and when the tax schemes run by the company ultimately fail? If I am right with that assumption, then MTP (IOM) Ltd will have taken total fees of somewhere over twice that amount.

So where did the balance of the money go IR35Amnesia? Also, which creditor was responsible for bringing the action?

[jeanvaljean]

Encouraging noises?

Has anyone been given any encouraging indications, however small, as a result of contacting their MP yet?

[elpinar]

feeling a tad shafted

would seem that this company is indeed the one who would in theory owe us the 4% - but they are in liquidation with not a bean to their name - so we are all welcome to write our letters and stake out clim but if the cupboard is bare there are no beans for us to fight over ..... so think we can kiss goodbye to any refund

So a tax planning company has creditors of £7 million? Am I to assume that those creditors are in fact contingent creditors, and only exist if and when the tax schemes run by the company ultimately fail? If I am right with that assumption, then MTP (IOM) Ltd will have taken total fees of somewhere over twice that amount.

So where did the balance of the money go IR35Amnesia? Also, which creditor was responsible for bringing the action?

[TalkingCheese]

Has anyone been given any encouraging indications, however small, as a result of contacting their MP yet?

I got a reply saying he can't do much while the legal case is ongoing but he has invited me in for a meeting.

[TalkingCheese]

I got a reply saying he can't do much while the legal case is ongoing but he has invited me in for a meeting.

Actually the letter and email I sent was before we knew about the rejected appeal... I assume the tax tribunal is not considered part of the legal process?

[BrilloPad]

I know this is a side issue - but you might be interested to see http://forums.contractoruk.com/gener...cted-bn66.html . At the moment we are losing 8-15.

[nevergiveup]

I know this is a side issue - but you might be interested to see http://forums.contractoruk.com/gener...cted-bn66.html . At the moment we are losing 8-15.

Not any more were not!

[OldITGit]

With regard to the BN66 Poll, Do these people not realise

That S58 will be used as and when HMRC see fit to justify retrospection!!! if I had been a member of the loans scheme or any EBT scheme I would be worried now. Most will have reverted to limited companies and as they were employees of the scheme providers their details will be already recorded, available for use at a future date.

[SantaClaus]

That S58 will be used as and when HMRC see fit to justify retrospection!!! if I had been a member of the loans scheme or any EBT scheme I would be worried now. Most will have reverted to limited companies and as they were employees of the scheme providers their details will be already recorded, available for use at a future date.

Exactly. Anyone who thinks they are safe because they used a different scheme is delusional.