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

[smalldog]

I suspect no-one here can answer that question with certainty, and I have to admit when I thought of the ramifications of this, I was a bit taken aback. There is time yet, so don't rush into anything before you get the answers. Not the best way to start a weekend. The unfairness of this whole situation makes me angry, it's just plain wrong. They really are a bunch of bastards.

This is going beyond teaching us a lesson. The government is shooting peoples lives in the head. Hmrc loaded the glock, gauke is pulling the trigger.

Mark my words people will get desparate when this all lands on doormats.....I'm still not convinced gauke appreciates the size of the fire he's playing with.

[DotasScandal]

This is going beyond teaching us a lesson. The government is shooting peoples lives in the head. Hmrc loaded the glock, gauke is pulling the trigger.

Mark my words people will get desparate when this all lands on doormats.....I'm still not convinced gauke appreciates the size of the fire he's playing with.

It's actually very surprising. Politicians learn early to NOT act extreme, as otherwise they cannot create a consensus around them, and make their way to the top.
This is as extreme a measure as it gets, especially as it is completely gratuitous....It sounds completely lllogical.
Closing all exits will only leave them with a bunch of "nothing to lose" dudes on their hands, and the unintended consequences to boot...

[helen7]

Where has this speculation that out CTD will be useless come from?

DR any clarity on this?


I owe 300k. I took out a CTD as soon as 2008 retro was announced. If they added 5 years of interest to that it would be devastating.

It is beginning to feel like the best move is to withdrawal my appeal and pay up now.

[growler]

Mark my words people will get desparate when this all lands on doormats.....I'm still not convinced gauke appreciates the size of the fire he's playing with.

If people are so desperate they kill themselves over this, as has tragically already happened, can any behaviour really be ruled out?

What happens at the end of all this if Winston doesn't love Big Brother?

I think Invisible Touch was the group's undisputed masterpiece

[helen7]

It's fair to say that the unfair ruin to many ordinary people that this will bring will prompt very drastic action. I would not feel safe if I were anybody involved in implementing this.

Karma.

It's awful to think somebody too their life over this. Many many more lives will be ruined by this.

[OnYourBikeGB]

Where has this speculation that out CTD will be useless come from?

DR any clarity on this?


I owe 300k. I took out a CTD as soon as 2008 retro was announced. If they added 5 years of interest to that it would be devastating.

It is beginning to feel like the best move is to withdrawal my appeal and pay up now.

It is pure speculation at the moment, I am sorry that I have added to it and I don't want to cause any distress, especially when nothing is known. Probably best viewed as one of the anomalies of retrospective legislation.

[centurian]

It is pure speculation at the moment, I am sorry that I have added to it and I don't want to cause any distress, especially when nothing is known. Probably best viewed as one of the anomalies of retrospective legislation.

WHS +1 - totally agree - and equally sorry if I have added to the distress.

Don't rush into doing anything right now - wait until the guidance around CTD/APN is clear - at the moment, no-one knows the answer.

[DonkeyRhubarb]

CTD

I haven't seen any guidance from HMRC on using CTDs to pay APNs.

They will have to address this though because many taxpayers will have made deposits.

My assumption is that it will be treated like a payment on account, backdated to when the CTD was taken out.

[smalldog]

I haven't seen any guidance from HMRC on using CTDs to pay APNs.

They will have to address this though because many taxpayers will have made deposits.

My assumption is that it will be treated like a payment on account, backdated to when the CTD was taken out.

I agree, it would surely be as though you have the apn money ready to go and no further interest due. Let's see....

[bananarepublic]

I haven't seen any guidance from HMRC on using CTDs to pay APNs.

They will have to address this though because many taxpayers will have made deposits.

My assumption is that it will be treated like a payment on account, backdated to when the CTD was taken out.

I contacted HMRC 3 or 4 months ago to get an answer (via the contacts listed on the APN budget notice). I did not get a reply. I tried again a month or so back and apparently there is a technical section looking into it for which I have a contact. I actually emailed them yesterday as they still have not answered my query about how CTDs will interact with APNs. Anticipating this lack of response I asked my MP to find out. He is normally very good at following things up but I still do not have a reply.

There is no guidance on line and I have no assurance that CTDs will be taken into account. However I think it is likely.

In the absence of guidelines if I received an APN I would appeal the amount based on my CTD holding.

Personally if I did get an APN and the CTDs could not be used to settle or offset them I would withdraw my appeal - I bought My first CTD in January 2003!!!