HMRC enquiries for EBT schemes through SANZAR

[jbryce]

Rangers....

The problem is that if the new legislation goes through which works on the you pay now and then fight for it to get back we will have had to have paid the HMRC anyway. I cannot see them letting go of the money that easily as they will then say that every scheme is fundamentally different and the follower concept does not apply.

Hopefully I am wrong in this I just think that the political will is too great for this.

This has been posted already it is not a light read but gives a good idea as to what went on at the Rangers Tribunal

UTT Thread | The Scottish Football Monitor

DL

Can anyone understand a single thing that's being said in the Rangers case ?UTT Thread | The Scottish Football Monitor

Anyway, I'm not sure that the Rangers case has any impact one way or the other.....

[MrO666]

Can anyone understand a single thing that's being said in the Rangers case ?UTT Thread | The Scottish Football Monitor

Anyway, I'm not sure that the Rangers case has any impact one way or the other.....

Agreed, I believe that the Rangers case has little or no impact on anything else.

Even if HMRC do get the full powers they want, you can always refuse to pay it. As I understand it, if you refused to pay then you would be hit by three successive 5% penalties and continuing interest. Unless I'm mistaken, I've not seen anything anywhere which details what HMRC would propose to do after that. Remember, in order to take you to court or start recovery proceedings, they would need to prove that the money is genuinely owed.......pay upfront assessments in no way do this, and from what I can gather are not intended for that purpose either.

An intriguing point I think.

Keep in mind though, if the debt is ultimately proved, then you will have landed yourself with a 15% penalty to boot.

[gamechanger]

Agreed, I believe that the Rangers case has little or no impact on anything else.

Even if HMRC do get the full powers they want, you can always refuse to pay it. As I understand it, if you refused to pay then you would be hit by three successive 5% penalties and continuing interest. Unless I'm mistaken, I've not seen anything anywhere which details what HMRC would propose to do after that. Remember, in order to take you to court or start recovery proceedings, they would need to prove that the money is genuinely owed.......pay upfront assessments in no way do this, and from what I can gather are not intended for that purpose either.

An intriguing point I think.


keep in mind though, if the debt is ultimately proved, then you will have landed yourself with a 15% penalty to boot.

I thought they will log into your bank and take the money.

In any case when do they start looking at your bank account?

[MrO666]

I thought they will log into your bank and take the money.

In any case when do they start looking at your bank account?

You need to slow down here..........

These are all serious matters and ones which you really should take the time to research, not just start panicking.

IF HMRC get the power to take the money directly from your bank, then it's my understanding that this will only be applied in cases where the debt has been proven, and where the taxpayer has continually refused to work with HMRC to resolve the issue.

Despite all the scare mongering, I don't think HMRC are going to raid peoples accounts off of the back of assessments which don't legally prove anything at all (although that is my opinion, not fact).

I'm not a lawyer and I'm not an accountant, however I believe that specific power will be used as a last resort against people who have been proven to owe HMRC and who are clearly not playing ball.

[gamechanger]

You need to slow down here..........

These are all serious matters and ones which you really should take the time to research, not just start panicking.

IF HMRC get the power to take the money directly from your bank, then it's my understanding that this will only be applied in cases where the debt has been proven, and where the taxpayer has continually refused to work with HMRC to resolve the issue.



Despite all the scare mongering, I don't think HMRC are going to raid peoples accounts off of the back of assessments which don't legally prove anything at all (although that is my opinion, not fact).


I'm not a lawyer and I'm not an accountant, however I believe that specific power will be used as a last resort against people who have been proven to owe HMRC and who are clearly not playing ball.

Sorry mate.not sleeping that well..slowing down.

[MrO666]

Sorry mate.not sleeping that well..slowing down.

Remember that HMRC aren't going to come and kick your door down next week, this will be a reasonably long drawn out process, even if they do get the powers they want.

Assuming you've successfully appealed any DA's which you've received, as I said, you need to sit down and get your case in order, as until you really do understand what the worst case scenario would be, then you can't really do anything.

[gamechanger]

Remember that HMRC aren't going to come and kick your door down next week, this will be a reasonably long drawn out process, even if they do get the powers they want.

Assuming you've successfully appealed any DA's which you've received, as I said, you need to sit down and get your case in order, as until you really do understand what the worst case scenario would be, then you can't really do anything.

I want to get some sleep -- Then do my home work in next few days... Then wait and see how its all going on... We are all there and couple of you guys know what you are talking about...

[DonkeyRhubarb]

Whilst I don't expect it to bring any joy, we need to wait and see what's in the actual Finance Bill which is due to be published on Thursday.

It would also be nice if HMRC got around to publishing the report on the so-called consultation.

[MrO666]

Whilst I don't expect it to bring any joy, we need to wait and see what's in the actual Finance Bill which is due to be published on Thursday.

It would also be nice if HMRC got around to publishing the report on the so-called consultation.

I think we know full well that the consultation report will be quietly released via the back door, and will have taken absolutely zero notice of any institutions recommendations or responses to the draft.

I'm past caring about it all now to be honest, I refuse to spend years of my life worrying about it. I now intend to earn as much as I can via allowed means, and then transfer the whole lot outside of the UK along with me with it, ensuring that the UK Government gets as little as legally possible at every turn.

[vern19]

I think we know full well that the consultation report will be quietly released via the back door, and will have taken absolutely zero notice of any institutions recommendations or responses to the draft.

I'm past caring about it all now to be honest, I refuse to spend years of my life worrying about it. I now intend to earn as much as I can via allowed means, and then transfer the whole lot outside of the UK along with me with it, ensuring that the UK Government gets as little as legally possible at every turn.

I too will be taking my skills abroad. I don't want my children growing up here