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

[SantaClaus]

Pragmatic people who want the right outcome rather than simply to be in the right.

Just as you paid a lobbying group as a tool to bring pressure, you can use public opinion.

If you don't care about public opinion, then all this emphasis on using Twitter is a bit pointless. Because the entire point of Twitter is not to contact the MPs, but to contact them in a way that is visible to the general public.

The Twitter campaign was to bring our issue to the attention of MPs and that was successful in so far as the Finance Bill Committee were reading tweets during the debate and mentioned points that we brought up.

Trying to turn public opinion is like jumping in front of a train and expecting it to reverse. That was not what was intended and it's never going to happen.

That's all i have to say on this subject.

[DonkeyRhubarb]

Unintended consequences of AP

1) No-one will register schemes any more. The original rationale for DOTAS, to give HMRC advance warning, is lost.

2) No-one will settle. Settling means paying tax/nic/interest. APN is just tax, so it's a no-brainer really.

[bananarepublic]

Using a Certificate of Tax Deposit to settle an APN

For the past few months I have been trying to get an answer from HMRC regarding how a CTD can be used to settle an APN. As some of us are likely to be in receipt of an APN soon a resolution has become more urgent.

As of today, I can confirm that HMRC still have no guidance for this. It is with their policy unit.

Therefore, I cannot discount the possibility that if a CTD is used to pay an APN that if/when the appeal is withdrawn and the full tax bill becomes due, the interest calculation will *NOT* take into account when the CTD was purchased.

Or perhaps reason will prevail at HMRC....

Make your own mind up about whether you want to rely on HMRC's good faith on this but I for one will be seeing my MP.

[bananarepublic]

For the past few months I have been trying to get an answer from HMRC regarding how a CTD can be used to settle an APN. As some of us are likely to be in receipt of an APN soon a resolution has become more urgent.

As of today, I can confirm that HMRC still have no guidance for this. It is with their policy unit.

Therefore, I cannot discount the possibility that if a CTD is used to pay an APN that if/when the appeal is withdrawn and the full tax bill becomes due, the interest calculation will *NOT* take into account when the CTD was purchased.

Or perhaps reason will prevail at HMRC....

Make your own mind up about whether you want to rely on HMRC's good faith on this but I for one will be seeing my MP.

One further point. Even if you don't get an APN, if you are in receipt of a follower notice this will affect you. So if you were in the scheme before 2004, this may affect *ALL* years in the scheme and not just those post 2004.

Which leads me to one further point. Montpelier have a 4% performance fee outstanding. If I receive an APN/follower notice I will need to settle. If the appeals are finally resolved in our favour I would have to pay the 4% back as well, even though I had settled with HMRC.

[lucozade]

One further point. Even if you don't get an APN, if you are in receipt of a follower notice this will affect you. So if you were in the scheme before 2004, this may affect *ALL* years in the scheme and not just those post 2004.

Which leads me to one further point. Montpelier have a 4% performance fee outstanding. If I receive an APN/follower notice I will need to settle. If the appeals are finally resolved in our favour I would have to pay the 4% back as well, even though I had settled with HMRC.

The lack of direction from Montpelier is starting to really pi55 me off. How long has it been since we received any contact considering what has happened in recent times?

[bananarepublic]

The lack of direction from Montpelier is starting to really pi55 me off. How long has it been since we received any contact considering what has happened in recent times?

Mores the point, if I have to settle, do I have to pay the 4% fee if we eventually "win".

[lucozade]

Anyone fancy joining this? https://twitter.com/fotgetfotdo/stat...34005169078272

It's for a good cause and all that.

[EveryMoveCalculated]

Anyone fancy joining this? https://twitter.com/fotgetfotdo/stat...34005169078272

It's for a good cause and all that.

Just mute the guy and move on. Responding only makes it worse, although his lack of smarts and generally circular argument can be amusing.

[smalldog]

Just mute the guy and move on. Responding only makes it worse, although his lack of smarts and generally circular argument can be amusing.

I blocked them a long time ago...

http://www.tax-news.com/news/Industr...____65279.html

Head of Tax Jason Collins explained: "This is inevitably going to lead to immense financial stress and even insolvency amongst the individuals targeted by these accelerated payment demands. It is not just High Net Worths and celebrities that have invested in these tax planning schemes. There are a lot of modestly well-off self-employed contractors who have been sold tax planning schemes that will face these demands for money. - See more at: http://www.tax-news.com/news/Industr....gR3i8vho.dpuf

[lucozade]

Just mute the guy and move on. Responding only makes it worse, although his lack of smarts and generally circular argument can be amusing.

I'm familiar with how it works.