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

[centurian]

Not sure what balance you speak of given the controversy behind the decision.

Those quotes show that they were wholly against retrospection - certainly, but none of them amount to a vow to repeal s58 when in power. Sure, they were happy for you to get that impression when casting your vote in 2010, but as far as I can see, they never actually promised it.

Although I wonder - did the Tories actually table an amendment to s58 as DC said they would ??

[smalldog]

Channel 4 Secrets of the tax man on at 8PM, as in right now!!! might be interesting as its about off shore and HMRC top bods working for some avoidance firms!

[WelshRarebit]

Channel 4 Secrets of the tax man on at 8PM, as in right now!!! might be interesting as its about off shore and HMRC top bods working for some avoidance firms!

Just watching it now. How interesting! Seems the top bods at HMRC also work for companies incorporated in the Channel Islands to avoid tax.

Seems it's one rule for one, one rule for another.

[moira under the stairs]

Just watching it now. How interesting! Seems the top bods at HMRC also work for companies incorporated in the Channel Islands to avoid tax.

Seems it's one rule one, one rule for another.

...and now a KPMG partner is joining HMRC !!!!! Hope he is going to see us right

[smalldog]

...and now a KPMG partner is joining HMRC !!!!! Hope he is going to see us right

Yep Mike Clasper from KPMG, reckon it might be worth us all writing to him as he was an avoidance advocate previously!!

[the great escape]

Those quotes show that they were wholly against retrospection - certainly, but none of them amount to a vow to repeal s58 when in power. Sure, they were happy for you to get that impression when casting your vote in 2010, but as far as I can see, they never actually promised it.

Although I wonder - did the Tories actually table an amendment to s58 as DC said they would ??

To be honest centurian, the political wetwipe I am, I was not aware of these statements when I voted. I just blindly assumed the Cons would be more supportive of our and other tax arrangements, given Labour was responsible for IR35 - as I understand it. If I had any as my MP, I'd show them the quotes and ask Cameron what exactly he meant, ask Gauke what he intended to do about that which was 'unacceptable' and ask Ozi what he intended to change to effect things 'prospectively'.

Verbatim no vows granted but it's hard to see that 'nothing' was their intention, given those statements. Why is their no accountability?

[moira under the stairs]

Yep Mike Clasper from KPMG, reckon it might be worth us all writing to him as he was an avoidance advocate previously!!

Is this a case of poacher turning gamekepper ?

[smalldog]

Is this a case of poacher turning gamekepper ?

absolutely!!

[Ninja]

Gauke in action today

Finance Act 2008: 9 Jul 2012: Hansard Written Answers and Statements - TheyWorkForYou

Apparantly S58 doesn't affect any taxpayers.
Oh well, that's alright then. Silly me. Why have I been worrying myself about it then?

Answer that bl**dy question!

[freedomfighter]

Cut and paste

response from my MP below after me chasing him again a couple of weeks ago..

Dear Mr xxx,

Thank you for contacting me about Section 58 of the Finance Act 2008.

British residents are taxable on their income wherever it arises across the globe, including through foreign partnerships. Section 58 was introduced in order to help put this beyond any doubt and it is a reasonable response to a wholly artificial tax avoidance scheme. It clarified existing legislation and therefore has not affected any UK taxpayer’s tax position. The Government does not have any plans to change this.

A proposed amendment to the Finance Bill, that the Chancellor of the Exchequer shall review the implementation of section 58 of the Finance Act 2008, and the impact of its retrospective nature on the taxpayers involved, was withdrawn. I know this may not be the answer you were hoping to hear, but it is important that the UK collects the tax it is owed by its citizens.

Thank you again for taking the time to contact me.

Yours sincerely,



xxx MP
(Dictated by xxx and sent on his behalf)

I had exactly the same sent to me from Zac Goldsmith.