Artic in the Lords today

[The Lone Gunman]

This thread isn't about the weather and cricket then?

[M@H]

it may not be called a Test case but the ruling will set a precident either way.

[wendigo100]

This thread isn't about the weather and cricket then?

I thought it was about a large lorry.

Arctic

[Xenophon]

I thought it was about a large lorry.

Arctic

[malvolio]

The Test Case thing is about funding, pure and simple. If HMRC/Gay Gordon had decided to fight it as a test case as a matter of national interest, the costs would be borne by the public purse. By pursuing it as a final appeal, HMRC and Gorgon are merely being vindictive.

As you say, regardless of that the result will set clear precedent one way or the other. And should we lose (that's we as in UK, not just Arctic and the PCG) we're looking at an immediate tax bill of around £1.2bn for the rest of the country's husband/wife LtdCos, a major rethink of the way people set up their companies, a clear signal that the Government doesn't believe a spouse to have an equal interest in how the family earns their money, an ongoing additional tax burden for everyone involved and a big F*** You to the British tax-paying middle classes, not to mention the tearing noise as the will of Parliament is discarded in favour of short-term gain. So typical NL politics then...

[King Cnvt]

The Test Case thing is about funding, pure and simple. If HMRC/Gay Gordon had decided to fight it as a test case as a matter of national interest, the costs would be borne by the public purse. By pursuing it as a final appeal, HMRC and Gorgon are merely being vindictive.

As you say, regardless of that the result will set clear precedent one way or the other. And should we lose (that's we as in UK, not just Arctic and the PCG) we're looking at an immediate tax bill of around £1.2bn for the rest of the country's husband/wife LtdCos, a major rethink of the way people set up their companies, a clear signal that the Government doesn't believe a spouse to have an equal interest in how the family earns their money, an ongoing additional tax burden for everyone involved and a big F*** You to the British tax-paying middle classes, not to mention the tearing noise as the will of Parliament is discarded in favour of short-term gain. So typical NL politics then...

NL really are King cnuts.

[Troll]

I thought it was about a large lorry.

Arctic

but ...

[Old Greg]

What I'm not clear about, though is what the precedent will mean if Arctic win. I have 2/3 of shares, Mrs Old Greg has 1/3.

But from what I've read on this board and elsewhere, HMRC could decide that the circumstances of the Arctic set-up may not be so simple as 'no more going after husband/wife shareholding of one man band Ltds.'

Any ideas from the esteemed members?

[zathras]

They said on the radio this morning that the hearing is going to take four days. Will be very interesting anyway. Also, they said that most tax related test cases are paid for by HMRC, but this one is being funded by the couple themselves (and their supporters). I wasn't quite clear what this was supposed to imply, but they did seem to think that was an important point when it was mentioned in the radio article??

The tax office argue that this is not a test case; therefore they are not going to foot the bill.

[malvolio]

If they win, no problem. What the law, Parliament, accountancy advice and the DTI have been saying for the last 60 years will stand.

If they lose, expect an aspect enquiry for any company where husband and wife own part shares, and how those shares were acquired by the "sleeping" partner, followed by a demand for up to six years back taxation.