Settlement Opportunity

[DonkeyRhubarb]

The right way to proceed is for a group to fund enough or the right specialists who have a workable idea that has weight and can be pursued with rigour against HMRC, if necessary supported by Tribunal appearances.

That's what we (NTRT) are doing.

The advantage of having a few hundred members is that it spreads the costs of engaging tax advisors, solicitors, barristers etc. Very few of us could afford to take HMRC on single handedly.

[webberg]

That's what we (NTRT) are doing.

The advantage of having a few hundred members is that it spreads the costs of engaging tax advisors, solicitors, barristers etc. Very few of us could afford to take HMRC on single handedly.

And I think you have an advantage in that NTRT is a discrete issue that impacts everybody.

The fight on the EBT/loan/RT issues seems to be fractured into product names. My research indicates that many of these schemes have common characteristics and features and as such they should be coming together in the same way as your campaign.

I don't understand why there is the division into product supplier groups, especially if those suppliers have moved on or are not supporting their former clients.

This though is now getting close to something I want to do as a commercial business in a couple of weeks and perhaps best if I say no more without it being clear what my motives are.

One message is clear - DO NOT IGNORE THIS ISSUE, IT'S NOT GOING AWAY.

[DonkeyRhubarb]

I don't understand why there is the division into product supplier groups, especially if those suppliers have moved on or are not supporting their former clients.

Me neither. I bet most of these schemes use the same underlying tax structure. Many firms will have just copied what other firms were already offering.

[webberg]

Me neither. I bet most of these schemes use the same underlying tax structure. Many firms will have just copied what other firms were already offering.

Agreed and that's what makes them vulnerable to the same HMRC attack but potentially strong if they come together with the right argument.

Must stop now as I'll be starting to believe my own publicity!

[StrengthInNumbers]

That's not what I meant by large numbers coming together. I meant legally challenging the situation together.

With APNs and FNs HMRC has taken a lot of power and will collect from all. They know individuals might not be able to go to tribunals and get the tax paid back if HMRC lose in courts.

All with a bit of knowledge of EBTs know that strong arguments exists against the view of HMRC and HMRC last lost many EBTs related cases. Rangers is latest but not the only one. HMRC themselves saw Income tax on EBT payments will not hold in court and have changed to ToAA.

If all come together HMRC can be challenged properly. For me personally is not an issue as I know my promoter is handling and taking the case to tribunal. Whether we will win or lose in courts time will tell but the point is we are in an organised way going to court to get a proper decision instead of what HMRC thinks. Our scheme has a couple of thousand members and, because of numbers we can chip in little to get big sum together and get proper defence if promotor needs financial Fire power upwards from FTT. Other groups should do the same and if required even all groups should come together.

If our promotor was not around we could have only got a couple of 100 members. When we were writing to MPs I seemed like only 65 of us were jumping around instead of all 65000 and their families. This is where my problem lies. 1000s are sleeping and I don't understand why and how. May be I am wrong and just not aware but other groups are going to courts as well

[StrengthInNumbers]

All promotors are not together because not all of them did what they said they were doing. Others are letting other promoter take the lead.

[rushum89]

Is a pension an asset

Hi - Does anyone know if a personal pension can be viewed as an asset by HMRC? I have approx 250k in one and would hate for them to say you can pay out of that.

thanks

[StrengthInNumbers]

If u can access it, they can

[Youvegottobekiddingme]

Just a quick question with respect to the calculations.
If HMRC don't agree that EBT loans are loans, can we ask them to offset the 5% benefit in kind tax that we have already paid on the loan amounts when they calculate the settlement?
Since it's now going to be reclassified as income and be taxed as such, surely we should take into account what's been paid already?

Also, will HMRC somehow put protections in place to prevent us from ever having to repay the Trusts for the loans (which are still very real)?

[DonkeyRhubarb]

All promotors are not together because not all of them did what they said they were doing. Others are letting other promoter take the lead.

Many promoters have shut up shop leaving users to fend for themselves.

Unfortunately there are a lot of cowboys in the scheme business.