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

[BrilloPad]

Interesting discussion going on here - http://forums.contractoruk.com/accou...ere-right.html

Shows how much bollux we have to counter.

Its been like the first days of the BN66 thread. Me and DR against the trolls. Mind you I quite like a good scrap - its been jolly good fun. I even managed to upset a mod along the way.

[NotAllThere]

... I even managed to upset a mod along the way.

You did? Where?

[BrilloPad]

You did? Where?

Not you NAT. Its my old enemy......

[DonkeyRhubarb]

National Audit Office report on marketed tax avoidance schemes

Contractor schemes highlighted in red. I suspect the true scale is much greater than these estimates.

You can see why our scheme was so exceptional.

Scheme title...................................Tax loss.........Users
Partnership loss scheme.....................£3,500M.........14,000
EBT schemes...................................£1,700M. ........3,400
Interest relief...................................£1,100M.. .......900
Employment intermediary schemes.......£600M............16,000
Stamp Duty Land Tax schemes...........£500M.............6,800

(BN66 was £200M/2,000 users)

[BrilloPad]

Contractor schemes highlighted in red. I suspect the true scale is much greater than these estimates.

You can see why our scheme was so exceptional.

Scheme title...................................Tax loss.........Users
Partnership loss scheme.....................£3,500M.........14,000
EBT schemes...................................£1,700M. ........3,400
Interest relief...................................£1,100M.. .......900
Employment intermediary schemes.......£600M............16,000
Stamp Duty Land Tax schemes...........£500M.............6,800

(BN66 was £200M/2,000 users)

HMRC only picked on the schemes being run by WG.

[SantaClaus]

Interesting discussion going on here - http://forums.contractoruk.com/accou...ere-right.html

Shows how much bollux we have to counter.

Brillo, talking to these people is a waste of time and effort... effort that can be better expended elsewhere, IMHO.

[screwthis]

Contractor schemes highlighted in red. I suspect the true scale is much greater than these estimates.

You can see why our scheme was so exceptional.

Scheme title...................................Tax loss.........Users
Partnership loss scheme.....................£3,500M.........14,000
EBT schemes...................................£1,700M. ........3,400
Interest relief...................................£1,100M.. .......900
Employment intermediary schemes.......£600M............16,000
Stamp Duty Land Tax schemes...........£500M.............6,800

(BN66 was £200M/2,000 users)

Do you know the effective tax rate for each of these schemes? Was ours more "aggressive"?

[BrilloPad]

Brillo, talking to these people is a waste of time and effort... effort that can be better expended elsewhere, IMHO.

Its not too much effort for the real NTRT.....

[DonkeyRhubarb]

Do you know the effective tax rate for each of these schemes? Was ours more "aggressive"?

Every contractor ebt/loan type scheme I know of features a low single digit tax rate. The net retention is typically 85-90% after fees and tax.

The SDLT schemes avoided tax altogether ie. 0%.

[elpinar]

omg - lets hope they cant do this retrospectively !!!

Unlimited fines for tax avoiders, warns HMRC