New charge on outstanding disguised remuneration loans

[Samatra]

Are the PAYE changes being applied retrospectively ?

[carling]

Are the PAYE changes being applied retrospectively ?

Certainly looks that way.

[BrilloPad]

And remember that HMRC will be reading this and other CUK threads. They want to intimidate you. Bullying is the only weapon they have.

[flamel]

PAYE regulations

13..... The detail of the changes to the transfer of liability rules will be included in the consultation over the summer.


Collecting tax on disguised remuneration payments

3...... A consultation on these amendments will form part of the wider consultation over the summer..

The old "consultation" trick..... Remember the "consultation" before APNs were introduced. Every participant said "don't do it, it's a disgrace...etc etc etc". They then said participants had helped them with the wording of the legislation. What a joke. They said safeguards would be put in place...... by HMRC, a well known independent body from, er, HMRC.

[DotasScandal]

This consultation?

"Gauke performs magic trick, transforms 847 responses into 20"

Given that it's the same person and spirit behind this new initiative, I can't see why the protocol would be any different.

[ASB]

They will argue it is not retrospective. I suupose strictly it isn't. But the effect is to move previous activity into charge.

It changes the transfer provisions to maceit a zillion timeseasier to get the paye from the user. Presumably as a result of the current state of murray to stop that turning into a pyrrhic victory.

everybody should be afraid. They leave themselves plenty of scopeto decide anything is a scheme.

wonder how long it will be before any close company paying dividends to working participators is a scheme. It doesnt seem far off to me.

[difficulttimes]

HMRC Webinar tomorrow afternoon

I see this on one of the forums..



HMRC will be holding a webinar for accountants to discuss the Budget announcement on disguised remuneration and its impact on individual contractors.

HMRC say "We want to use this Talking Points session to summarise what this announcement means for individuals that might be involved in disguised remuneration avoidance schemes such as contractors."

To register for that webinar click here

Questions can be submitted prior to the webinar to [email protected]

[jonnieboy]

Just appeared on accountingweb...

Retrospective tax imposed on contractors’ loans | AccountingWEB

[TheDandy]

Just appeared on accountingweb...

Retrospective tax imposed on contractors’ loans | AccountingWEB

There will be plenty of such articles that just regurgitate the HMRC mantra. Right now it suits HMRC to ratchet up the pressure and bullying at every opportunity. The choices are simple; make it easy for them or fight them. Don't rely on talking to the intransigent and corrupt HMRC and AccountingWEB won't provide the answers either. Just saying.

[jonnieboy]

There will be plenty of such articles that just regurgitate the HMRC mantra. Right now it suits HMRC to ratchet up the pressure and bullying at every opportunity. The choices are simple; make it easy for them or fight them. Don't rely on talking to the intransigent and corrupt HMRC and AccountingWEB won't provide the answers either. Just saying.

Have you read the article? Whilst the comments may not be sympathetic I thought the article was balanced and reasonable.

"He also says the charge is deeply unfair as in many cases the tax was not payable under the law that existed when the loan was advanced (pre December 2010), so the taxpayer should win their case if they could get a hearing at the tax tribunal. Under the proposals such taxpayers will have to pay the tax on the outstanding loan even if they do win their case at the tax tribunal."