New Finance Bill 2017-18

[ChimpMaster]

As it is with BG - I would like to hear from a tax consultant who suggests otherwise, for a balance of opinion (and who isn't associated with a scheme, obviously).

I've read articles from a number of other tax advisors and they all tow the same line about paying up and not fighting this any more. In many ways you can see the reason why, because HMRC are their own lawmakers and parliament are not going to argue even the most draconian measure that HMRC propose now.

Rather than trying to fight this, it's time to work out how you personally will deal with it. This might involve IVA, full settlement, paying the Loan Charge, working with a group like BG, or even trying to run or hide.

[ConfusedEasily]

I've read articles from a number of other tax advisors and they all tow the same line about paying up and not fighting this any more. In many ways you can see the reason why, because HMRC are their own lawmakers and parliament are not going to argue even the most draconian measure that HMRC propose now.

Rather than trying to fight this, it's time to work out how you personally will deal with it. This might involve IVA, full settlement, paying the Loan Charge, working with a group like BG, or even trying to run or hide.

I did a bit of research when this hit me recently and to be fair BG has always advocated settlement. Which is what I want. My accountant thinks the CLSO2 is flawed and provides no guarantee over future HMRC raids and thinks that a CLSO2 type thing negotiated by a larger group may be safer.

I hate HMRC and this government. I will never trust them again.

[squirrel]

i hate hmrc and this government. I will never trust them again.

this this this this this this this this this this this

[luxCon]

Iliketax , Do we have to pay 45% on all years aggregated in one go?

Employed (with dissolved employer): income tax, no NIC, by 31 January 2020

No interest on April 2019 loan charge. But if you have an open year then HMRC may still pursue interest on that (but no double tax).

Iliketax,

Do we have to pay 45% for all years aggregated loan amount in one go? Or does the bill allow each year's PAYE allowance for every year I was in a scheme?

Thanks

[Joolsey86]

Retrospective

Does anyone know how retrospective the 1st December bill allows the PAYE to transfer to an employee for both foreign and UK based employer?

i.e. 20 years back, or just to 2010/2011?

[starstruck]

Does anyone know how retrospective the 1st December bill allows the PAYE to transfer to an employee for both foreign and UK based employer?

i.e. 20 years back, or just to 2010/2011?

And also to bump this at the same time -> I thought there was no legislation that allowed the transfer of a PAYE demand from employer to employee and that it would be added in the budget. There was going to be a consultation bla bla blah ... The budget then appeared with stuff about the transfer of PAYE from offshore employers. So either the transfer rules where there all along for onshore employers, or they can't transfer from onshore employers or I am misunderstanding something ...

[BrilloPad]

Does anyone know how retrospective the 1st December bill allows the PAYE to transfer to an employee for both foreign and UK based employer?

i.e. 20 years back, or just to 2010/2011?

It looked to me(after pointer from webberg) that it was 2003? Though 1999 was being talked about....

[eazy]

Pcg ir35 jr

PCG took HMRC to a JR on IR35 in 2001, unfairness, Human Rights etc, High Court & Court of Appeal, lost in both courts. It ended up costing PCG approximately £700K.

As others have said, judges do not challenge will of the parliament, i.e. Finance bill, success of a JR win in these cases is very remote.

[BrilloPad]

PCG took HMRC to a JR on IR35 in 2001, unfairness, Human Rights etc, High Court & Court of Appeal, lost in both courts. It ended up costing PCG approximately £700K.

As others have said, judges do not challenge will of the parliament, i.e. Finance bill, success of a JR win in these cases is very remote.

Alot of MPs express misgivings about various parts of finance bills. e.g. retrospection in 2008. However, a vote against is a vote of no confidence in the government!

[webberg]

Does anyone know how retrospective the 1st December bill allows the PAYE to transfer to an employee for both foreign and UK based employer?

i.e. 20 years back, or just to 2010/2011?

Be very careful.

The DR charge 2019 is a 20 year retrospective charge on any unpaid loans made between April 1999 and April 2019.

The legislation prevents this charge being borne by an employer even if it was them who should have paid PAYE at the time the loan was made.

There is a proposal to allow a transfer of PAYE from employer to employee in more circumstances than is presently permitted and we are promised a consultation on that. We have not seen it.

So please don't confuse the two.