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

[Emigre]

Received the same letter today
OIG

Clearly, not everyone who used the scheme visit this forum so, assuming it was sent out to all the scheme users, it should certainly broaden awareness of the No To Retro Tax campaign.

[BettySwollocks]

So let's say you'd realised that your dual-taxation claim was likely to be challenged. What would you have done differently when filling in your SA return?

I'm not an accountant but my guess would be that I would be declare it like any other source of income untaxed at source - maybe like rental income, for example...?

At the end of the day, I did what MP advised me to do - after all, that's why I was paying them 10% of my gross income...

[Emigre]

I'm not an accountant but my guess would be that I would be declare it like any other source of income untaxed at source - maybe like rental income, for example...?

At the end of the day, I did what MP advised me to do - after all, that's why I was paying them 10% of my gross income...

You can only state on your tax return what it actually was, which is what MontP did for you. The point is that by doing so you have declared the income - that avoids (pardon the pun) the evasion claim. Once declared all that happens is that through the various mechanisms you negotiate if and how it will be taxed. HMRC says apply S58 and it will be taxed as if you are a partner of a foreign partnership etc. On the other hand, time will tell whether there is a satisfactory argument to challenge their position.

If you wanted to comply with their view you should have entered it on you SAR as profits from a foreign partnership. They would then take great delight in welcoming you tax payments.

[freedomfighter]

"£900+ for a bum on a seat"

I bet all of the large IT providers are rubbing their hands together.

Getting rid of those pesky £500/day contractors experts.
Move over! You ain't seen nothing yet.

Make way for the £900/day mediocre Big 5 consultants, and watch how many more Govt project budgets balloon out of control.

You hit that on the nose - I've worked with a couple of the "Bums on Seats" - useless 12 year olds and fixated on not delivering anything of any quality and failing projects including at some partially Tax Payer owned banks!, well I guess that is where our tax has been going on big Govnmt overrun, over budget IT projects! Wasn't it the big 5 that wanted IR35.

[GottaBeOptimistic]

Montpelier Letter

I have just received a letter from Montpelier alerting me to the NoToRetroTax Campaign and recommending that I take a look at the No To Retrospective Taxation | Campaign Against Retrospective Tax Legislation website.

Has anyone else received one?

Yes and this is good news that they are contacting all scheme users. There are still loads of them that do not use this forum and therefore haven't seen the much of the good discussion. Some scheme users do NOT understand the details but I hope now, they will become engaged with the group and take positive action with their MP's and the lobbying campaign.

Many think that the law has changed and so they should pay up. They don't understand the lies and misleading activity that stands to cost them many many thousands of pounds.

This is very good news that they are becoming engaged and everyone should encourage known scheme members to read this forum, understand the core facts and support this activity. Excellent stuff DR and co........

[moira under the stairs]

Finish the week happy !!! and now a long weekend


Just finished a meeting with my MP DR i'll PM you.

[Dieselpower]

oh come on MUTS - spill the beans!

Just finished a meeting with my MP DR i'll PM you.

What happened? Looks like it went well!

[nevergiveup]

Just finished a meeting with my MP DR i'll PM you.

Sounds promising. What party?

[moira under the stairs]

Sounds promising. What party?

Its a public forum

Lets just say It went very well & it was a party that was against retrospection...... DR has the details

[Taffia]

You hit that on the nose - I've worked with a couple of the "Bums on Seats" - useless 12 year olds and fixated on not delivering anything of any quality and failing projects including at some partially Tax Payer owned banks!, well I guess that is where our tax has been going on big Govnmt overrun, over budget IT projects! Wasn't it the big 5 that wanted IR35.

Don't get me going. I work for one of those and looking around the office it's like an episode of Junior Apprentice except no one gets fired.