Phil - 'The Tax guy' (the rather dull and underwhelming sequel)

[phil@pmtc]

Hi All

I have been made aware of and now read a number of comments that I feel I should reply to.

I am just going to reply to what has been said about me personally. Out of respect to Mods and Admin I shall not name or discuss the details of the matter which is primarily the cause of such threads

Many of you will be aware of who I am and some of the work that I have done concerning the LOAN CHARGE. I am not going to go into any detail here, but it is easy enough to google if you want to.

There has been a great deal of work out of sight with LCAG and even this week I was in Parliament with Sir Ed

I have set out my views on HMRC and the LC elsewhere, again easy enough to find if you have a search engine. My view has been and remains that we should do everything to possible to stop it.

Included in everything to stop the charge, for all my clients and tens of thousands of others who face bankruptcy and suicide, involves looking at all reasonable options. The options are to settle, do nothing, stick your head in the sand, fight via LCAG and finally to consider a scheme that might actually work meeting the legislation on its own terms. Not relying on EU law or a shaky analysis of legislation. There is no need to debate it or attack me, it just is what it is.

So, if I know about this what am I supposed to do? Keep silent and not tell anyone? Given the impact this draconian legislation is having how could i stay silent? Anyone who knows me will know that I just cant do that. I have known from the start that some people would object to my be associated with an arrangement, but if I actually think it works, I can’t have the consequences on my shoulders if I say or do nothing.

As for making a few quid out of it, I am not hiding in a dark corner, I am standing up for what I think is right. Has anyone actually read the promoters provisions ?

Of the options available some people might think it is the best option. Doing something is better than some of the other alternatives.

Someone on here has said that my Twitter comments sound like I am drunk which is somewhat pointlessly offensive (though admittedly and contradictorily slightly amusing also), I do get emotional about this, so would you if you heard some of the messages left on my phone, or read some of the emails I get daily. I would be a poor example of a human if i didn't recognise the pain and anguish suffered by others.

Anyway, I'm doing all I can to stop the LC, if you think I should remain quiet and worry about the way I come across then I'm afraid the outcome will only be failure. HMRC are not reasonable, they are not following laws and they are out of control. What is needed is not a slick haircut and suit with a poodles approach to a dog fight. What is needed is a Rottweiler.

Think of me what you like but attacking me is a waste of time and energy which is v much needed elsewhere.
I will not be replying to anymore comments on here – I have work to do and I v genuinely wish you all well as, whether believe it or not, we are all v much firmly on the same team.

Finally - The best advice i can give to all is stay strong, do not suffer alone and please consider LCAG as, in my opinion, they are exceptional in what they are achieving. Hopefully one day we can all celebrate together.


Regards
Phil

[Invisiblehand]

So you think selling another offshore scheme to get around issues created by an offshore scheme is a good idea? That's like breaking your leg to detract from the fact your arm is broken. Also, calling MPs names on twitter is hardly what I'd describe as the behaviour of a "leading light"...

Given the virtual company you keep none of this surprises me. QC opinions, element of trust, not being able to sleep because of the LC, deary me...

[here4beer]

So you think selling another offshore scheme to get around issues created by an offshore scheme is a good idea? That's like breaking your leg to detract from the fact your arm is broken. Also, calling MPs names on twitter is hardly what I'd describe as the behaviour of a "leading light"...

Given the virtual company you keep none of this surprises me. QC opinions, element of trust, not being able to sleep because of the LC, deary me...

Openly selling a tax avoidance scheme, with all the mumbo jumbo we're told to avoid.

I thought this would be locked and deleted, never mind getting 'likes' from moderators...

[cojak]

He is not openly selling a scheme on CUK.

[Fred Bloggs]

So you think selling another offshore scheme to get around issues created by an offshore scheme is a good idea? That's like breaking your leg to detract from the fact your arm is broken. Also, calling MPs names on twitter is hardly what I'd describe as the behaviour of a "leading light"...

Given the virtual company you keep none of this surprises me. QC opinions, element of trust, not being able to sleep because of the LC, deary me...

Sounds familar? Remember where you heard this said the first time around. I can't sit in judgment of the OP here, but my own impression is not to touch a scheme promising to fix a scheme with the longest bargepole ten times the length you can imagine.

[Invisiblehand]

Sounds familar? Remember where you heard this said the first time around. I can't sit in judgment of the OP here, but my own impression is not to touch a scheme promising to fix a scheme with the longest bargepole ten times the length you can imagine.

I just find it bizarre that he came here with the intention of building his practice and helping contractors make sense of this mess and is now peddling an offshore scheme based in Cyprus. I only hope people aren't taken in by the ludicrous video on their website.

[Iliketax]

I just find it bizarre that he came here with the intention of building his practice and helping contractors make sense of this mess and is now peddling an offshore scheme based in Cyprus. I only hope people aren't taken in by the ludicrous video on their website.

You also have to remember that his very own advice is not to touch these things as they don't work.

There is now so much information on the internet (here, QC's websites, promoter's sites, Twitter, etc) that it would be easy for HMRC to work out the various ways being touted to, purportedly, stop the April 2019 loan charge. The government has shown that it is willing to make tweaks to the legislation to put things beyond doubt or to require more things to be disclosed.

Then there is also the GAAR advisory panel opinions that mean that your cunning scheme gets you super-duper penalties (60%).

Oh, and some of the comments seem to focus on what people should disclose (leave a nominal £400 or so of tax to pay type of comments). And that then gets you into even more serious consequences if it involves offshore stuff. I think Cyprus may be a "category 1" territory so only a 100% penalty for new things (but haven't checked) but who knows what countries are actually involved in whatever is done.

Appendix 2 of the letter from HMRC that got published today also talks about careless behaviour for not reporting the loans in the first place (careless is code for longer time limits and more penalties). A dodgy scheme like this though is likely to bring you in to the "deliberate" regime which is even tougher (imagine HMRC's question "so tell me, what happened in the scheme?" "Er, some guy sipping beer on a beach told me to pay £50,000 to a Cyprus bank account and said it would be alright").

[Invisiblehand]

Blinded by dollar signs in his eyes most likely. I have no qualms with people earning money but I think to lead people further down the garden path is just plain wrong. The worrying thing is some people will buy into it believing he has their best interests at heart. His holier than thou attitude on twitter stinks as well.

[WalterWhite]

Do we know what his issue was with Graham/WTT yet?

[Invisiblehand]

No idea truth be told.