No To Retro Tax – Campaign Against Section 58 Finance Act 2008

[jlg15333]

So have we lost now?

Its all just so depressing. Half of me wishes theyd just issue the final demand now so I can just declare myself bankrupt and at least see an end to this whole debacle, even if its is six yeas down the line ...

[foolishboy]

I have been given kind permission to reproduce this letter from a Government Minister.

Note the use of the word "repeatedly" in the final sentence.

Thanks for the update DR, I understand the points the Minister makes in his letter but what I find chilling is Gaukes resolve, which seems even stronger than ever. He defended his approach in 2008 without batting an eyelid and sees no inconsistency. To me it sounded personal, he thinks we are high net worth individuals and that we took the piss, and he isnt going to let us get away with it. The same view HMRC take.

Compare that to the impersonal approach of Mr Baker (and others) who didnt approve of the decisions we took at the time but as a matter of principle feels retrospection of any kind is wrong as a rule of law. I tihnk this is what he was getting at with his comment about about high principle.

So when it gets personal (for Gauke and HMRC) it gets ugly and people arent for turning. A U-turn for him now or at any point on this would be a resignation job. Not gonna happen.

[DonkeyRhubarb]

It would appear that some people were aware and expected the outcome yesterday and many did not.

Personally I never expected it to be put to a vote but anything could have happened leading up to the debate. We are not dealing in certainties here which is why we just have to keep ploughing on regardless.

Frustration and disappointment is something we all have to bear. The alternative is to give up.

[elpinar]

it is also a tad galling that those of us who joined at the point when the 4% was being taken on the basis it would be returned in the event of failure will I guess never see that again - as the part that issued that promise was long ago put into adminsitration ...... I had alwasy felt that could pay off some of the interest if it ever came to that. I presuem if a tax demand drops throught the door tomorrow it is now a criminal offence not to pay it ? or am i wrong there ? (forgetting the issue of negatoting payment terms due to hardship

[DonkeyRhubarb]

I presuem if a tax demand drops throught the door tomorrow it is now a criminal offence not to pay it ? or am i wrong there ? (forgetting the issue of negatoting payment terms due to hardship

We are a very long way from getting tax demands. Shiner & Huitson have to be heard at the FTT first, and then there may well be further appeals.

[Guttersnipe]

He defended his approach in 2008 without batting an eyelid and sees no inconsistency.

Belief in politicans' incompetence and intellectual incapability is common but the profession is primarily constituted of highly intelligent people for whom proficiency in argument is a fundamental requirement of their role. Being able to construct a framework within which his actions and position appear consistent should come as no surprise.

We're asking the Treasury to give up revenue on a point of principle. They are not going to roll over without a fight but now we at least have them have them in the arena.

[DonkeyRhubarb]

We're asking the Treasury to give up revenue on a point of principle. They are not going to roll over without a fight but now we at least have them have them in the arena.

I'm not sure this really comes down to money but you're right we are going to have to fight tooth and nail to extract any concessions out of them.

[smalldog]

I'm not sure this really comes down to money but you're right we are going to have to fight tooth and nail to extract any concessions out of them.

Agree, I dont think its monetary, in the current climate its about not being seen to let tax avoiders get away with it. Timing wasnt great for us IMHO as lots of focus on tax evasion and avoidance.

[screwthis]

Agree, I dont think its monetary, in the current climate its about not being seen to let tax avoiders get away with it. Timing wasnt great for us IMHO as lots of focus on tax evasion and avoidance.

I don't know. It seems more personal than this. No retro on K2, which is just as or more aggressive, unfair on other tax payers, willfully flauting the law, morrally repugant, wholly artificial, comes at the same time of austerity and is even more in the public eye.

[DonkeyRhubarb]

Agree, I dont think its monetary, in the current climate its about not being seen to let tax avoiders get away with it. Timing wasnt great for us IMHO as lots of focus on tax evasion and avoidance.

Talking about timing, you have to wonder whether it's pure coincidence that the press got hold of this yesterday.

Nigel Farage admits setting up offshore trust fund - Telegraph

"However, Mr Farage insisted that he never used the [Isle of Man] scheme, claiming that he was "not rich enough" to need the offshore fund."