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

[BolshieBastard]

Think a bit of calm is called for all around. Obviously news about pending APN has heightened everyone's stress levels.

Id ask NTRT to seriously re consider raising the minimum joining donation to 300 quid. When you've got no money coming in, no matter how worthy the cause or the fact that HMRC will take far more off you, it can be hard finding that money.

Anyway, I thought we had a ballot not long ago about financing going forward? As always, just my thoughts.

[Morlock]

Lets not kid ourselves we could discuss things in private in a closed forum. I wouldnt put it past an HMRC spy to pay and register if they can get some nuggets of info to help their cause. We would!

As long as a closed forum is purely for group discussion but without having anything confidential or revealing then I dont see why not.

Let's face it, sensitive information shouldn't be disclosed on a forum anyway. I vote we stick with this one, simply because a new one would suffer the same security concerns.

[helen7]

So presumably we will all likely get our APN's soon.

I would expect all of us would want the numbers to be confirmed by Montpellier before paying. Do we know if they have the resources to deal with 2000 requests? Maybe they should start the calculations now......

[Morlock]

So presumably we will all likely get our APN's soon.

I would expect all of us would want the numbers to be confirmed by Montpellier before paying. Do we know if they have the resources to deal with 2000 requests? Maybe they should start the calculations now......

That would be silly, because the interest will continue to accrue until the APN is issued. So the calculation would then have to be redone based on the actual date of the APN.

[DownButNotOut]

That would be silly, because the interest will continue to accrue until the APN is issued. So the calculation would then have to be redone based on the actual date of the APN.

Hang on, I thought APN's didn't include interest.

[helen7]

Hang on, I thought APN's didn't include interest.

Thats my understanding too..

[helen7]

CTDs to pay APN

If I have read this right we can pay the APN using our CTD.


2.4.12 Certificates of Tax Deposit
If a taxpayer has purchased a Certificate of Tax Deposit, they can redeem it against the accelerated payment in the normal way. Taxpayers in that position should contact HMRC as soon as possible to ensure that the amounts are allocated in the correct way.

2.4.15 Part of under-statement paid
If a taxpayer has paid any part of the understated tax before an APN is issued, this amount will reduce the size of payment required by the APN.
Where amounts have been paid on account, but not yet allocated, or certificates of tax deposit purchased, HMRC will discuss with the taxpayer how and if those may be used against the accelerated payment.

Source
https://www.gov.uk/government/upload...-f-notices.pdf

[Morlock]

Hang on, I thought APN's didn't include interest.

Apologies, that does indeed seem to be the case.

[DonkeyRhubarb]

Attacking APNs

For anyone who is interested in the legal avenues for attacking APNs, which Montpelier will probably follow.

See chapters 6 and 7.

http://www.taxchambers.com/wp-conten...s-Notices3.pdf

Quote:

"In my view, many arrangements which HMRC consider to be “notifiable arrangements” are not in fact such.

What is clear from Condition C is that it is not enough that arrangements have in fact been notified: they must also have been “notifiable arrangements”. That is important, because most people in the past have taken the view that, as honest citizens, they would disclose too much rather than too little and have been entirely above board with the Revenue about what they were doing."

[Morlock]

For anyone who is interested in the legal avenues for attacking APNs, which Montpelier will probably follow.

See chapters 6 and 7.

http://www.taxchambers.com/wp-conten...s-Notices3.pdf

Quote:

"In my view, many arrangements which HMRC consider to be “notifiable arrangements” are not in fact such.

What is clear from Condition C is that it is not enough that arrangements have in fact been notified: they must also have been “notifiable arrangements”. That is important, because most people in the past have taken the view that, as honest citizens, they would disclose too much rather than too little and have been entirely above board with the Revenue about what they were doing."

Wow! That doc is dynamite!