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

[freedomFighter2014]

More mistakes at HMRC

HMRC gets tax wrong for 5.5 million people | Money | theguardian.com

And a lot of that just PAYE!
"introduction of a £270m scheme designed to make the tax system more accurate." That's a lot of money - more than they'll get back for S.58!

[jbryce]

HMRC gets tax wrong for 5.5 million people | Money | theguardian.com

And a lot of that just PAYE!
"introduction of a £270m scheme designed to make the tax system more accurate." That's a lot of money - more than they'll get back for S.58!

...and there is no real appeal, as the both Law Society and COIT point out, for the amount on APNs or FNs.

[lucozade]

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

Does anybody have information on the tax avoidance scheme used by MPs that has some form of exemption in the Finance Bill?

I think a few FOI requests are in order.

All animals are equal.......

[eek]

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

...and there is no real appeal, as the both Law Society and COIT point out, for the amount on APNs or FNs.

Which is why a certain someone was recommending trying to settle now while you have the chance to negotiate and correct HMRC figures. If you know an APN is on the horizon, it's got to be worth trying to see if HMRC will correct the figures now as that isn't an option later.

And from what I remember from the early EBT posts many estimates are, supposedly, vastly out.

[DonkeyRhubarb]

APN process

I think it's worth clarifying what the legislation stipulates, as there seems to be some confusion over the time limits.

On receipt of an APN, the taxpayer has 90 days to pay before penaties kick in and enforcement begins.

There are very limited grounds of appeal but a valid one is that the taxpayer disagrees with the amount.

If the taxpayer appeals then HMRC must review the figures and then issue a determination.

From the point the determination is issued, the taxpayer then has either 30 days to pay or the rest of the original 90 days, whichever is later.

Example 1

Day 1 - Fred receives an APN.
Day 10 - Fred appeals.
Day 30 - HMRC issues determination.

Deadline for Fred to pay up is Day 90.

Example 2

Day 1 - Bill receives an APN.
Day 80 - Bill appeals.
Day 100 - HMRC issues a determination.

Deadline for Bill to pay up is Day 130.

[smalldog]

I think it's worth clarifying what the legislation stipulates, as there seems to be some confusion over the time limits.

On receipt of an APN, the taxpayer has 90 days to pay before penaties kick in and enforcement begins.

There are very limited grounds of appeal but a valid one is that the taxpayer disagrees with the amount.

If the taxpayer appeals then HMRC must review the figures and then issue a determination.

From the point the determination is issued, the taxpayer then has either 30 days to pay or the rest of the original 90 days, whichever is later.

Example 1

Day 1 - Fred receives an APN.
Day 10 - Fred appeals.
Day 30 - HMRC issues determination.

Deadline for Fred to pay up is Day 90.

Example 2

Day 1 - Bill receives an APN.
Day 80 - Bill appeals.
Day 100 - HMRC issues a determination.

Deadline for Bill to pay up is Day 130.

Hi DR, just one small point. You have 90 days to reach an agreement with HMRC, it doesnt mean you must have paid the full APN amount. A penalty will only be applied in a case where you havent reached a payment agreement within that time frame. Reason im clarifying is that an arrangement maybe a time to pay, or a second charge on an asset to be sold later. Neither of which will incur a penalty even though payment will not have been made within the specified timeframes.

[helen7]

Hi DR, just one small point. You have 90 days to reach an agreement with HMRC, it doesnt mean you must have paid the full APN amount. A penalty will only be applied in a case where you havent reached a payment agreement within that time frame. Reason im clarifying is that an arrangement maybe a time to pay, or a second charge on an asset to be sold later. Neither of which will incur a penalty even though payment will not have been made within the specified timeframes.

£5 per week for the next 1153 years?

[retrodeath]

Ttp

I discussed this TTP with my acct. he said that what he'd seen with the Switzerland cases a few years back was that Hector wasn't doing terms greater than a couple of years. The exception he saw was for 5 years. I can imagine however that those with Swiss interests are wealthier than your typical contractor. My advisor tells me he thinks it's unlikely Hector will opt for bankruptcy given that it doesn't benefit them. They'll take what they can but not destroy people. Cameron is clear about people paying back what they owe though so it's very uncertain. Shame the APNs are going to drag on another 18 months. Be nice to start the end game.

[DonkeyRhubarb]

Bankruptcy

I discussed this TTP with my acct. he said that what he'd seen with the Switzerland cases a few years back was that Hector wasn't doing terms greater than a couple of years. The exception he saw was for 5 years. I can imagine however that those with Swiss interests are wealthier than your typical contractor. My advisor tells me he thinks it's unlikely Hector will opt for bankruptcy given that it doesn't benefit them. They'll take what they can but not destroy people. Cameron is clear about people paying back what they owe though so it's very uncertain. Shame the APNs are going to drag on another 18 months. Be nice to start the end game.

During the debate last week Gauke was asked about bankruptcy. He said he could not give any assurance that taxpayers who couldn't pay APNs would not be bankrupted. He said he didn't want to tie HMRC's hands. You would hope HMRC would only do this in exceptional circumstances and as a last resort.

[BrilloPad]

Shame the APNs are going to drag on another 18 months. Be nice to start the end game.

This. And it will be a damned pity if I don't go bankrupt. I hate my job. And even paying HMRC a penny will hurt. Me and my dependents can live on the dole and f**k this hell hole of a country.

Or I can top myself. I won't be going alone.