BN66 - your opinions wanted

[EternalOptimist]

I think the highlighted terms cover the important principles in this case.

you've never heard of the sh1te butty , have you ?

[sasguru]

HMRC haven't prosecuted or demanded penalties, they've just simply recalculated the tax as it would have been, with interest. In other words no-one has lost out. HMRC gets its money and the scheme members are no worse off than they would have been had they been through an umbrella. I think that's how a lot of people see it.

I think the problem, as Pondlife noted, is that a lot of people cannot repay that recalculated tax.
I can't say I have much sympathy.

[Arturo Bassick]

I think the highlighted terms cover the important principles in this case.

I understand what you are saying but that is not how it works in the UK.
Loopholes get exploited until they are closed, then we move on to the next loophole.
Only where the exploitation can be seen as a perverse interpretation should penalties be imposed from day one.
I think HMRC are saying that this set up was perverse, in which case the penalties are not retrospective.

[sasguru]

you've never heard of the sh1te butty , have you ?

Is that what you're having for lunch? I might have a BLT.

[DonkeyRhubarb]

IR35 Information | Black Diamond Umbrella

The purpose of IR35 is to remove opportunities for avoidance of Tax and NI contributions by the use of intermediaries, such as service companies or partnerships, in circumstances where an individual worker would otherwise be an employee of the client.

The intent of the law was clear. How many can honestly say they're not exploiting a loophole?

[Mich the Tester]

I think the problem, as Pondlife noted, is that a lot of people cannot repay that recalculated tax.
I can't say I have much sympathy.

Hmm, that's where I think it's going a bit wrong. I don't see the sense in HMRC trying to get all the tax off people; that will lead to lots of bankruptcies and probably mean they get less money in the coffers than if they offer to compromise and allow ample time to pay off whatever sum is agreed upon. Trouble is that when things end up in court neither party really wants to compromise and both parties probably end up suffering.

[EternalOptimist]

Is that what you're having for lunch? I might have a BLT.

It's a way of giving someone bad news, or a b0llocking.


a bit of good news
a bit of sh1te
a bit of good news

=the sh1te butty.


e.g.
Telling someone in your platoon that their mum has died



'Platoon - SHUN. As its mothers day on sunday, everyone who has to get a mum pressie can take the day off to go Shopping, fall out now.'
'Jones - where the **** do you think you're going ??'


'By the way Jones, you are excused latrine duty next thursday'

[sasguru]

IR35 Information | Black Diamond Umbrella



The intent of the law was clear. How many can honestly say they're not exploiting a loophole?

IR35 is piss-poor legislation, 'tis true. But the level of avoidance for someone outside is nowehere as blatant as the BN66 thingy.

[Arturo Bassick]

IR35 Information | Black Diamond Umbrella



The intent of the law was clear. How many can honestly say they're not exploiting a loophole?

That is not how it was declared when it started and NO, it is not clear, even now.

[EternalOptimist]

Hmm, that's where I think it's going a bit wrong. I don't see the sense in HMRC trying to get all the tax off people; that will lead to lots of bankruptcies and probably mean they get less money in the coffers than if they offer to compromise and allow ample time to pay off whatever sum is agreed upon. Trouble is that when things end up in court neither party really wants to compromise and both parties probably end up suffering.

Its not that straightforward. HMRC will also calculate the gains from the deterrant effect