Originally posted by Dieselpower
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No To Retro Tax – Campaign Against Section 58 Finance Act 2008
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House of Commons biased Research report on S58
Originally posted by BrilloPad View PostIt seems to provide a summary of HMRC arguments - have I missed something?Join the campaign at
http://notoretrotax.org.ukComment
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Originally posted by Dieselpower View PostBP - It is supposed to be an unbiased report for any MP from any party to learn more about the situation - it does regretably omit very major facts that the Author MUST be aware of. He is thus being biased. If he continues to mislead in this fashion, he could be accused of misleading Parliament on quite a grand scale; a serious charge. Either the author is extremely naive, or he assumed we would never see it - I do not know. I am hoping that NTRT will take this grave matter up.
I'm sure that when it is brought to his attention that a number of constituents have asked for some action from a number of MPs that does not get the benefit of a full briefing of what might be going on. Probably told to look at Hansard, the Huitson case and not much else.
I am sure that NTRT/Whitehouse will follow up with the author to appraise him of his somewhat partisan appraisal.Join the No To Retro Tax Campaign Now
"Tax evasion is easy: it involves breaking the law. By tax avoidance OECD means unacceptable avoidance ... This can be contrasted with acceptable tax planning. What is critical is transparency" - Donald Johnston, Secretary-General, OECDComment
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UBS tax avoidance accepted by Upper Tier Tax Tribunal...
... because it was legal !
Just seen this...
One in the Eye for HMRC - Contractor Weekly
"...During 2003, UBS used a trust company in Jersey called ESIP to pay over £100 million in bonuses..."
"...In upholding the Swiss bank's appeal the Upper Tax Tribunal (UTT) described the avoidance scheme as “technically sound”. The UTT also said, “In his oral submissions, [HMRC's lawyer] deployed a kaleidoscopic variety of arguments designed to persuade us, in one way or another, that the FTTT's conclusion on this part of the case, if not all of the reasoning by which the FTTT reached it, could and should be upheld. We admire his ingenuity, but are unpersuaded. In our judgment the FTTT's conclusion was in law an impossible one, and there is no proper basis for holding that the scheme fell outside the scope of [the special tax regime]...”
HMRC didnt get in quick enough with their use of retrospection on this one.
Parallels ?Comment
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Originally posted by TalkingCheese View PostHMRC didnt get in quick enough with their use of retrospection on this one.
(exceptional = over £200 million)Comment
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timing
Originally posted by TalkingCheese View Post... because it was legal !
Just seen this...
One in the Eye for HMRC - Contractor Weekly
"...During 2003, UBS used a trust company in Jersey called ESIP to pay over £100 million in bonuses..."
"...In upholding the Swiss bank's appeal the Upper Tax Tribunal (UTT) described the avoidance scheme as “technically sound”. The UTT also said, “In his oral submissions, [HMRC's lawyer] deployed a kaleidoscopic variety of arguments designed to persuade us, in one way or another, that the FTTT's conclusion on this part of the case, if not all of the reasoning by which the FTTT reached it, could and should be upheld. We admire his ingenuity, but are unpersuaded. In our judgment the FTTT's conclusion was in law an impossible one, and there is no proper basis for holding that the scheme fell outside the scope of [the special tax regime]...”
HMRC didnt get in quick enough with their use of retrospection on this one.
Parallels ?Comment
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Originally posted by Buzby View Postnot only is the case interesting, but also the durations involved. UBS used the scheme in 2003, 7 years to get to the FTTT and then 2 years to get to upper tier tribunal.
When would the equivalent 9 year period start from for us? 2012?Comment
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Originally posted by BrilloPad View PostBut as there are more of us involved will it take longer?
When would the equivalent 9 year period start from for us? 2012?
In our case, not only are there 2000 of us, but there are a lot of different individual circumstances. There are also several promoters to contend with.
By the way, it is exactly 8 months since the Supreme Court refused us, and PwC, leave to appeal, and HMRC haven't even started discussing test cases with the promoters yet. No-one has heard a peep out of them for ages.
Maybe they are plotting behind scenes but more likelyLast edited by DonkeyRhubarb; 3 October 2012, 12:52.Comment
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Originally posted by DonkeyRhubarb View PostIt was probably much easier for HMRC to lump everyone in the UBS scheme together under a single test case.
Can I do the predictable "we are all individuals" joke please?Comment
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FTTT
Originally posted by BrilloPad View PostBut as there are more of us involved will it take longer?
When would the equivalent 9 year period start from for us? 2012?
found this:
Figures obtained by Pinsent Masons showed that the number of cases heard by the First-tier tax tribunals reached a record high of 3,400 in the last three months of 2011. Overall, the number of new cases heard in 2011 was 20% higher than in 2010, at 11,000. In addition, the number of unheard cases rose from 16,700 at the end of 2010 to 22,100 at the end of 2011Comment
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