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

[Adecco]

Ok. I'm lost.

Can anyone sum up in 2 lines the outcome ?

Foes it mean only people using these from now on need to pay tax upfront while waiting for case to be judged on in courts ?

Or does it mean anyone in the past who used these schemes has to pay up now also ?

[screwthis]

They are using the word "fall" to mean either (a) were disclosed or (b) should have been disclosed.

So does the retrospection go back before the DOTAS requirement (2004)?

The second clause of falling under GAAR suggests it does if GAAR is applied retrospectively.

[DonkeyRhubarb]

So does the retrospection go back before the DOTAS requirement (2004)?

No.

The second clause of falling under GAAR suggests it does if GAAR is applied retrospectively.

I doubt the DTA scheme would be a candidate for the GAAR when there is already primary legislation S58 to counteract it.

[MuddyFunster]

So if my liability is spread over 2001-2005, this new legislation can force me to pay without interest the disputed amount post 2004, but the 2001-2004 amount is still classified under the on-going s58?

[DonkeyRhubarb]

So if my liability is spread over 2001-2005, this new legislation can force me to pay without interest the disputed amount post 2004, but the 2001-2004 amount is still classified under the on-going s58?

That is a reasonably safe assumption.

[nick4notax]

So if my liability is spread over 2001-2005, this new legislation can force me to pay without interest the disputed amount post 2004, but the 2001-2004 amount is still classified under the on-going s58?

And what about those who've been using loan based schemes since '08 'til now. We're going to be proper screwed without any trial or hearing whatsoever. May as well just hand my keys in to the mortgage lender now

[smalldog]

So if my liability is spread over 2001-2005, this new legislation can force me to pay without interest the disputed amount post 2004, but the 2001-2004 amount is still classified under the on-going s58?

just trying to work out my exposure, so does DOTAS catch tax year 2004 and on? i.e. is this everything from 5th April 2004 onwards, or 5th April 2005. I cant find anything concrete and it makes a big difference to me personally!!

[weeboaby]

And what about those who've been using loan based schemes since '08 'til now. We're going to be proper screwed without any trial or hearing whatsoever. May as well just hand my keys in to the mortgage lender now

I'm in "no way can I pay" mode, and looking like doubly so now. What happens when I get the demand? Should I be seeking advice from an Insolvency Practitioner now? Anybody.

[DonkeyRhubarb]

just trying to work out my exposure, so does DOTAS catch tax year 2004 and on? i.e. is this everything from 5th April 2004 onwards, or 5th April 2005. I cant find anything concrete and it makes a big difference to me personally!!

It's not clear.

One of the goons at the JR said it applied to any returns filed after October 2004, which is when Montpelier were issued with the SRN, but I don't think that's right.

[Adecco]

Can anyone give a one line summary where we are at please?
I'm lost.

I was using a EBT loan scheme since 2010 - 2012.

Does it mean i must pay up now? Or am I safe until a tribunal rules (whenever that may be)