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

[RichardC]

The press aren't interested because the exemption is from the 2011 Finance Act; telegraph article is dated April 2011

[SantaClaus]

There was an article in the Sunday Times today about how HMRC will be demanding inheritance tax in advance before people die, especially if they have used any form of tax avoidance in their IHT planning.

Niemöller's "First they came..." poem springs to mind.

[Dazed and Confused]

As far as I can tell (IANAL, IANAA) Chapter 2 contains all the instructions for determining whether payments made under the scenarios described in chapter 1, unless otherwise exempt, should be taxed as income or not, and if so in what context. Think of it as an extremely complicated set of nested IF statements with very poor formatting and obtuse variable names.

554E appears to say that if the Independent Parliamentary Standards Committee decides to investigate the behaviour of an MP none of the instructions in Chapter 2 are applicable to that MP. In other words the IPSC gets to pass judgement (or not) on the MP, not HMRC. And we've all seen how effective that has been in the past.

Thanks for your analysis DaveB. So it sounds like MPs have their own little exception handler which they can raise should they get investigated. How wonderful for them. If this is true, it's flipping outrageous!

[the great escape]

If HMRC stick to Ms Homer's stated view, an APN is unlikely before a "positive" decision in HMRC's favour. Now that Rangers is with the Court of Sessions awaiting a date (might sneak into this year), chances are it won't be that one. There are a couple of other "offshore remuneration" type schemes waiting to go to FTT. Earliest date for those is late 2014 and a decision perhaps 3 months after that.

IN my personal opinion therefore if HMRC stick to the Homer line, first APN's might be towards the end of Q1 2015. (Bear in mind however that an election is due around then and quite what impact that might have on issue or non issue I don't know).

Be warned that the rules on APN's allow for issue without a FTT or higher level decision IF a FN is issued, DOTAS registration carried or GAAR counteraction. If HMRC want to be unfair, then there is plenty of scope for APN's to be issued very soon.

Hi Rob79, as a 'man in the know' I was about to ask you for the similar feedback. In your opinion, which is true of Her Majesty's Robbers and Collectors at the moment;

a) We have a target for collection and we'll get the lot

b) We have a target for collection, some we'll loose (like Rangers), some we'll win but oh well, we'll be happy with something

[Safe]

HMRC's new consultation

This can be used easily in the future for people who are doing legal tax planning!

https://www.gov.uk/government/upload...al_offence.pdf

[anonymouse]

May include inheritance tax as well..

This can be used easily in the future for people who are doing legal tax planning!

https://www.gov.uk/government/upload...al_offence.pdf

See 3.2. Who's going tell the Wail?

[convict]

A nice long 10 week consultation period on this one...

[SantaClaus]

HMRC Direct Recovery Powers

This has been posted on another thread, but the petition has only had 1,763 signatures.

There is a petition to stop HMRC's direct recovery powers, whereby they can take everything from your bank account above £5000.
This goes hand in hand with the APN legislation.

There has been talk that this will be extended to spouses/partners too. Anything is possible with the out-of-control freight train/mafia known as HMRC.

Obviously this has big implications for those affected by BN66 and EBT'ers, so please sign and get your friends and family to sign too.

Withdraw the proposals to introduce direct recovery of tax debts from taxpayers

Thanks and regards

Santa

[MMSguru]

HMRC Direct Recovery Powers

Obviously this has big implications for those affected by BN66 and EBT'ers, so please sign and get your friends and family to sign too.

Withdraw the proposals to introduce direct recovery of tax debts from taxpayers

Done.

[BolshieBastard]

Done but only 1774 signatures!?