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

[SantaClaus]

Gary Lineker's own goal: Match of the Day pundit stung with £1.3million tax bill | Daily Mail Online

Looks like the article has disappeared. I wonder if the Daily Mail were threatened with legal action?

On the same subject, here's one to make your blood boil:

Upmarket leather goods firm employing Prime Minister's wife Samantha Cameron based in tax haven

...oh... and this one...

Cameron family fortune made in tax havens

When I see stuff like this, I will die before HMRC get any of my money.

[helen7]

Looks like the article has disappeared. I wonder if the Daily Mail were threatened with legal action?

Gone from every other UK newspaper site too. Still here

Match of the Day host Gary Lineker angrily denies being hit with £1.3m bill over tax break scheme - Daily Record

[OnYourBikeGB]

Looks like the article has disappeared. I wonder if the Daily Mail were threatened with legal action?

On the same subject, here's one to make your blood boil:

Upmarket leather goods firm employing Prime Minister's wife Samantha Cameron based in tax haven

...oh... and this one...

Cameron family fortune made in tax havens

When I see stuff like this, I will die before HMRC get any of my money.

You could say that one of the biggest beneficiaries of tax avoidance is our own 'beloved' Prime Minister. Wonder when he's going to get round to publishing that tax return?

David Cameron to publish details of his tax returns | Politics | The Guardian

followed by:

'No plans' to publish David Cameron's tax return | Politics | The Guardian

[anonymouse]

More on this story..

Gone from every other UK newspaper site too. Still here

Match of the Day host Gary Lineker angrily denies being hit with £1.3m bill over tax break scheme - Daily Record

Match of the Day host Gary Lineker angrily denies being hit with £1.3m bill over tax break scheme - Daily Record

[Laxmi]

CDT maturing

Hi, I know this was on the thread a few months ago, but I can't seem to find it.

My CDT has now reached the 6 year limit, what is the best course of action?
I tried emailing MTM (their phones are down!!!), but got cryptic responses.
I was thinking of putting the money on account, but not sure how that affects
the interest.

Thanks for your help.

[webberg]

Hi, I know this was on the thread a few months ago, but I can't seem to find it.

My CDT has now reached the 6 year limit, what is the best course of action?
I tried emailing MTM (their phones are down!!!), but got cryptic responses.
I was thinking of putting the money on account, but not sure how that affects
the interest.

Thanks for your help.

Do you mean Certificate of Tax Deposit (CTD)?

[Laxmi]

Do you mean Certificate of Tax Deposit (CTD)?

Yes.

[Retro]

Yes.

You need to hold onto the CTD.

CTDs don't have an expiry date, the 6 year limit is when HMRC stop paying you interest on the CTD (which only applies if you cash it in rather that use it to pay tax), but this was derisory anyway. The primary purpose of the CTD is to prevent interest from accruing on a tax bill, so it is still required for that purpose.

If you cash it in, you would lose any benefit from having owned it.

[Laxmi]

You need to hold onto the CTD.

CTDs don't have an expiry date, the 6 year limit is when HMRC stop paying you interest on the CTD (which only applies if you cash it in rather that use it to pay tax), but this was derisory anyway. The primary purpose of the CTD is to prevent interest from accruing on a tax bill, so it is still required for that purpose.

If you cash it in, you would lose any benefit from having owned it.

Thank you, for that makes more sense now.

[webberg]

Thank you, for that makes more sense now.

I would add a little colour.

The current series of CTD's operate as the previous poster advised. The immediately preceding series did not and did have an expiry date.

If you're not sure which one you have, ask HMRC.

If you want to preserve the interest on overdue tax protection AND interest on any cash being repaid (0.5%) then cash the CTD in on your HMRC account.