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

[moira under the stairs]

Here we go... a quick mock-up of what it could look like:

Gauke T-shirt

XL for me please !!

[moira under the stairs]

On That subject has anyone heard anything from MontP or HMRC about the next steps. Why are HMRC taking so long to take this to the next stage.

Not that I'm complaining I just think it is strange.

Why are HMRC taking so long to take this to the next stage. Are you for real ??? how many years did it take them to come up with the 'sh1te' we have going on today.

I for one am happy to leave MpntP to do what they are doing ...., providing us with information is unfortunately leaking to HMRC.....

..... shame on you the r's wipe who is doing it.

[Toocan]

Unfortunately the two main pressures on government today appear to be:
1: Avoid embarrassment, by maintaining the Gauke propaganda, ensuring the facts remain lost in history.
2: Salivation at the prospect of raising a £200m windfall from backdating the law.

Let’s just think about point 2 a little deeper.

The government don’t want to amend section 58 because it will cost £200m?

Well, firstly – they have not collected the £200million and given that it is reckoned that less than half of the people in the scheme have the ability to pay – they are not likely to. But just for the sake of argument, let’s work with the £200m as the net income of section 58.

India has used section 58 as the basis for their retrospective tax raid on Vodafone. This is reckoned to cost Vodafone around £2.8bn. (BBC News - Vodafone steps up tax row with India)

That amount would have to come out of Vodafone's profits which means, other planning excluded, that £2.8bn less of profit will be taxable.

That will Cost the UK exchequer 26% of 2.8bn = £728m (lost corporation tax).

Let’s be clear – Section 58 will COST the exchequer £728m - £200m = £528m !!!

And that is just the start – as long as the retrospective elements of section 58 are on the statute book it will be used to justify other retrospective tax raids on UK interests.

This is what is often called, an own goal. Well done HMRC, you’ve lost the UK £528m in tax revenue and it is only going to get worse.

In these tough economic times, I fail to see the money case for retaining section 58. Can you?

[BrilloPad]

Why are HMRC taking so long to take this to the next stage.

1. They are too busy reading this forum (hi HMRC )
2. They are too busy pulling the wings off butterflies
3. They know we are going to need our own appeal each and are getting the budget for what they will need

Either way I am happy. More time before I go bankrupt. More time for us to tell MPs how HMRC lied to them. More chance for ECHR to work.

[centurian]

That will Cost the UK exchequer 26% of 2.8bn = £728m (lost corporation tax).

You seriously think that Voda would actually pay 26% UK corp tax.

[BolshieBastard]

Very disappointing response from Ben Wallace MP for Lancaster and Wyre.

His latest reply to me was S58 'has been tested through the courts and found not to be disproportionate. I see no further point in you pursuing this line and suggest look to settle with HMRC'!

Twunt

[moira under the stairs]

Very disappointing response from Ben Wallace MP for Lancaster and Wyre.

His latest reply to me was S58 'has been tested through the courts and found not to be disproportionate. I see no further point in you pursuing this line and suggest look to settle with HMRC'!

Twunt

Don't give up send him K019.... with words like ' call yourself a politician ? ... freeloader more like ' its a difficult subject matter and a few MP's are willing to take it on board and agree that answers are required.

It hasn't gone through the correct courts yet.

[DonkeyRhubarb]

Tory MPs

I think there is a message coming down from above to shut us up.

A few people have had letters from Tories in recent days basically saying that there is no point in any further discussion.

Whitehouse are formulating a response.

[Wembley53]

Very disappointing response from Ben Wallace MP for Lancaster and Wyre.

His latest reply to me was S58 'has been tested through the courts and found not to be disproportionate. I see no further point in you pursuing this line and suggest look to settle with HMRC'!

Twunt

Same reply for me from him. KO19 on its way!

[BolshieBastard]

I think there is a message coming down from above to shut us up.

A few people have had letters from Tories in recent days basically saying that there is no point in any further discussion.

Whitehouse are formulating a response.

My thoughts exactly. Up to this letter, Wallace had been quite supportive but, his last response was almost curt in the extreme.

Clearly gauke doesnt like the hammering he's been getting and being shown as a two faced twunt he is not, HMRC being shown up as the lieing twunts they are.