Ross Thompson's Loan Charge Suspension Petition

[FIERCE TANK BATTLE]

how would a lot of people on here feel if HMRC decided that 95% of all contractors were inside IR35, and they were going to tax them accordingly for the previous 20 years? All while removing the individuals right to the courts?

I'd have to reach forward, about 2 feet, and grab the phone, and then after a quick google of QDOS' number, would indeed telephone them and say something along the lines of 'good luck'.

Then I'd go to the pub.

Insurance exists for a reason.

Also what does WSES mean?

[ShandyDrinker]

I'd have to reach forward, about 2 feet, and grab the phone, and then after a quick google of QDOS' number, would indeed telephone them and say something along the lines of 'good luck'.

Then I'd go to the pub.

Insurance exists for a reason.

While people should have been more questioning, the fact is that many weren't. I know when someone tried to get me into one I did say, "let me get this straight, you want me to effectively take out a loan that you can recall at any moment, irrespective of that it will be written off at some point in the future and it has been QC approved"... screw that.

Many who used the schemes, knowingly or not, do deserve sympathy, if nothing else because retrospective taxation is downright evil. HMRC did nothing about these schemes for a number of years and let the offshore companies get away with promoting them.

Being somewhat cynical, if HMRC launches a significant number of investigations, potentially expect all those selling IR35 investigation policies to miraculously disappear from the market place or decline claims.

[Old Greg]

While people should have been more questioning, the fact is that many weren't. I know when someone tried to get me into one I did say, "let me get this straight, you want me to effectively take out a loan that you can recall at any moment, irrespective of that it will be written off at some point in the future and it has been QC approved"... screw that.

Many who used the schemes, knowingly or not, do deserve sympathy, if nothing else because retrospective taxation is downright evil. HMRC did nothing about these schemes for a number of years and let the offshore companies get away with promoting them.

Being somewhat cynical, if HMRC launches a significant number of investigations, potentially expect all those selling IR35 investigation policies to miraculously disappear from the market place or decline claims.

You may view retrospective taxation as immoral. But it is legal. And that is exactly the argument made by scheme users when they were accused of immorally not paying their share of taxes. There is a certain poetry about it.

[stonehenge]

You may view retrospective taxation as immoral. But it is legal. And that is exactly the argument made by scheme users when they were accused of immorally not paying their share of taxes. There is a certain poetry about it.

From 6 April 2020, all contractors will have to pay their fair share.

[AtW]

HMRC's big mistake is to go cheap and treat this anything other than tax evasion - deliberate attempt to evade tax via "schemes".

Putting people behind bars is the only way to deal with it - this should obviously include creators of schemes, promoters and obviously main beneficiaries: those who evaded tax in the first place.

[Zigenare]

HMRC's big mistake is to go cheap and treat this anything other than tax evasion - deliberate attempt to evade tax via "schemes".

Putting people behind bars is the only way to deal with it - this should obviously include creators of schemes, promoters and obviously main beneficiaries: those who evaded tax in the first place.

How's your ISA coming along? Busily avoiding/evading tax?

[Old Greg]

From 6 April 2020, all contractors will have to pay their fair share.

Sure. That is the intent of Parliament and honest contractors will comply.

[ShandyDrinker]

You may view retrospective taxation as immoral. But it is legal. And that is exactly the argument made by scheme users when they were accused of immorally not paying their share of taxes. There is a certain poetry about it.

I agree with this part.

I didn't say retrospective taxation was immoral, more that it is evil. Retrospection should have no place. Where does it stop? Many people rightly believe they have done their due diligence with respect to IR35 over the years but with a government and HMRC ready to pursue individuals and limited companies with vigour could lead to many contractors with large historic tax bills due to incorrect IR35 statuses if companies suddenly decide to blanket assess everyone as inside IR35 post April 2020.

My argument is that once politicians and HMRC gets a taste of retrospection, then what? Now it's the loan charge, in future it could be IR35 or indeed something else.

[stonehenge]

HMRC's big mistake is to go cheap and treat this anything other than tax evasion - deliberate attempt to evade tax via "schemes".

Putting people behind bars is the only way to deal with it - this should obviously include creators of schemes, promoters and obviously main beneficiaries: those who evaded tax in the first place.

You mean like in Russia.

[Old Greg]

How's your ISA coming along? Busily avoiding/evading tax?

Can a pension or an Isa be considered tax avoidance? - FTAdviser.com

HTH