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

[smalldog]

Thanks for the reminder basher, another donation made, sorry bit overdue!

[Disgusted of Coventry]

You know it's a strange world when you can use legal tax planning, be open and transparent and have the full force of HMRC and the Government come down on you using retrospective laws to ruin your life and everything you have worked for and have them publicly label you as 'morally repugnant', yet you can walk away free from this, with the Government's consent.

BBC News - Alleged IRA Hyde Park bomber goes free after 'no trial' guarantee

I know who I think is morally repugnant.

I don't understand this part:

"The public interest in making state officials keep their promises outweighed the public interest in a trial being held, Mr Justice Sweeney had ruled on 21 February."

But didn't HMRC make an implied promise by asking users of the IoM scheme to await and abide by the conclusion of the Special Commissioners? Given the context of the above quote, the principle that state officials should keep to their word must rank spectacularly high!

[BrilloPad]

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

I don't understand this part:

"The public interest in making state officials keep their promises outweighed the public interest in a trial being held, Mr Justice Sweeney had ruled on 21 February."

But didn't HMRC make an implied promise by asking users of the IoM scheme to await and abide by the conclusion of the Special Commissioners? Given the context of the above quote, the principle that state officials should keep to their word must rank spectacularly high!

+1

Given that everyone expects public officials to lie at every opportunity.

Though they are amateurs compared to HMRC. If they told me the sun would rise in the morning I would look out of the window to check. Quite how they manage to sleep at night I don't know.

[SantaClaus]

Thanks for the reminder basher, another donation made, sorry bit overdue!

Thanks Smalldog and to everyone making donations.

[helen7]

[QUOTE=Diego;1895800]

"We did Not make any mistakes, we followed the Law (whatever that means now). We used legitimate tax planning, and notified them"

+1 Thanks as well reminding us all of the truth

How right you are. We did follow the law at the time. As the HMRC letter last year about the tax planning admitted, 'to succeed requires a very literal interpretation of that agreement', i.e. interpreted as it was actually written down!

Or as per the dictionary meaning of literal;
literal ˈlɪt(ə)r(ə)l/
adjective: literal; adjective: literal-minded

1. taking words in their usual or most basic sense without metaphor or exaggeration.
2. representing the exact words of the original text.

The judges interpret it differently.

Lets use this example.

It is against the law for somebody under 16 to buy cigarettes. We got our big brother to pop in and buy them for us…and he gave them straight to us in the queue in front of the shop keeper.

[northernladuk]

The judges interpret it differently.

Lets use this example.

It is against the law for somebody under 16 to buy cigarettes. We got our big brother to pop in and buy them for us…and he gave them straight to us in the queue in front of the shop keeper.

It's been 18 years old since 2007......

I believe the law is being altered this month to make it illegal to buy on behalf of an 18 year old as well.

HTH

[DonkeyRhubarb]

Literal vs. purposive

Or the letter of the law versus the spirit of the law.

Increasingly it seems judges are leaning towards the latter.

There is note about this here from one of the EBT promoters, which is worth a read.

http://forums.contractoruk.com/hmrc-...ml#post1880612

[lucozade]

Did I just hear Cameron say we are a nation that abides by the law? Hmmmm really?

Will he now apply retrospection on the Hyde Park bombing case?

I feel a letter to my MP.

This is morally repugnant!!!

[costo]

[QUOTE=helen7;1896693]

The judges interpret it differently.

Lets use this example.

It is against the law for somebody under 16 to buy cigarettes. We got our big brother to pop in and buy them for us…and he gave them straight to us in the queue in front of the shop keeper.

That's if you can get in front of a judge? if HMRC have their way we will "follow" some case that they have won on their terms...

[Alba]

Just say sorry

Perhaps if we apologised and said sorry even though it was legal and declared to HMRC we would be okay too.......................

Disconnect between HMRC and Cameron "But the PM refused to comment on Take That star Gary Barlow's tax affairs - saying it was a different case - after Labour called for his OBE to removed "

Comedian Jimmy Carr: I've made terrible error over taxComments (1675)
Jimmy Carr: No longer involved in the tax scheme Continue reading the main story
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Profile: Jimmy Carr
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Carr 'morally wrong' on tax - PM
Comedian Jimmy Carr says he has "made a terrible error of judgement" over using a tax avoidance scheme.

In a statement on his Twitter account, Mr Carr said he was no longer involved in the K2 tax shelter.

Prime Minister David Cameron on Wednesday called Mr Carr's use of the scheme "morally wrong".

But the PM refused to comment on Take That star Gary Barlow's tax affairs - saying it was a different case - after Labour called for his OBE to removed.

The K2 tax scheme used by Mr Carr is a way of lowering the amount of tax paid. It is legal and Mr Carr made clear in his statement it was fully disclosed to HMRC.

In a series of messages on Twitter Mr Carr said: "I appreciate as a comedian, people will expect me to 'make light' of this situation, but I'm not going to in this statement.

"As this is obviously a serious matter. I met with a financial advisor and he said to me 'Do you want to pay less tax? It's totally legal'. I said 'Yes'."

"I now realise I've made a terrible error of judgement.

"Although I've been advised the K2 Tax scheme is entirely legal, and has been fully disclosed to HMRC (Her Majesty's Revenue and Customs).

Continue reading the main story
Analysis
Kevin Peachey

Personal finance reporter, BBC News

--------------------------------------------------------------------------------
Do regular taxpayers care whether a comedian pays his tax? Or do they think it a joke that he, and hundreds of others, are given the opportunity to avoid paying it?

The government says it wants to put an end to "contrived" avoidance schemes. It needs the extra tax income after all.

Next year it plans to bring in a new general anti-abuse rule, to stop cunning schemes designed solely to avoid tax.

But accountants are lining up to argue that the line between artificial avoidance and legitimate tax planning is blurred - and the proposals will not end disputes entirely.

Which side of the line is sheltering your family from inheritance tax? And what about tax breaks for investing in small businesses?

Clearly Jimmy Carr's "error of judgement" will not be the punchline to this story.

Most common tax avoidance schemes
When is tax dodging illegal?
"I'm no longer involved in it and will in future conduct my financial affairs much more responsibly. Apologies to everyone. Jimmy Carr."

More than 1,000 people, including Mr Carr, are thought to be using the Jersey-based K2 scheme, which is said to be sheltering £168m a year from the Treasury.

Under the K2 scheme, an individual resigns from their company and any salary they subsequently receive is paid to an offshore trust.

Downing Street welcomed Mr Carr's apology.

A spokeswoman said: "HMRC are working hard to investigate the sort of scheme that Jimmy Carr had been reported to be involved in to ensure that they are not aggressively avoiding tax, and, if they are, they are closed down."

She defended Mr Cameron's decision to speak out about an individual's tax affairs - in contravention of normal government practice.

"The prime minister was expressing what probably lots of people felt after reading the coverage," she said.

Business Secretary Vince Cable also backed the prime minister, telling BBC Radio Sheffield he was not prepared to go "through a hit-list of our celebrities" but adding: "We just want people to pay their dues."

The Lib Dem minister said he did not use tax avoidance schemes himself and that, as far he knows, no members of the cabinet did either, saying: "We observe the law... but also try to set an example."