HMRC Consultative Document - marketed tax avoidance schemes

[convict]

http://www.publications.parliament.u...0190/14190.pdf

sections 192-222

"(12) Where an accelerated payment notice is withdrawn, it is to be treated as never
having had effect (and any accelerated payment made in accordance with, or
penalties paid by virtue of, the notice are to be repaid)."

Never mind you'll have been shafted royally, made bankrupt and lost your house etc.

[jbryce]

http://www.publications.parliament.u...0190/14190.pdf

sections 192-222

"(12) Where an accelerated payment notice is withdrawn, it is to be treated as never
having had effect (and any accelerated payment made in accordance with, or
penalties paid by virtue of, the notice are to be repaid)."

Never mind you'll have been shafted royally, made bankrupt and lost your house etc.

How can they have published the legislation prior to addressing the responses they have received?
The whole consultative process was a farce.

[jbryce]

Responses document.

https://www.gov.uk/government/upload...Final_v1.0.pdf

[convict]

After reading that it's pretty clear they don't care what was said. It's written with such a definite slant of pro HMRC it's unbelievable. just look at the pretty pictures at the back - the supposed flow chart one; completely ignores the HMRC does not litigate/loses scenario. Other areas where tax is deemed to be tax even before any decision has been made. Proper spin there.

F.U. Gauke.

[smalldog]

I'd say we're royally f**ked........so what happens if ur bankrupted due to accelerated payment and hmrc eventually lose in court! you get ur house! family, job, business, credit rating back?

[eek]

I'd say we're royally f**ked........so what happens if ur bankrupted due to accelerated payment and hmrc eventually lose in court! you get ur house! family, job, business, credit rating back?

Sadly not because

relates to who holds the money during
the dispute, rather than whether the tax scheme is effective or not.

I guess the problem is that HMRC think these schemes have been used to rich people to avoid paying tax, when in reality they have been used by working people scared into using them due to salesmen.....

I note that the BN66 responses were dismissed out of hand as I expected them to be.....

[retrodeath]

I wonder if that's even crossed their minds. The fact that there will be people without the ability to pay. They seem to think we've all put this cash in an interest bearing account so we can earn on it until they make us give it back.

Hilarious.

[LandRover]

Sadly not because

I guess the problem is that HMRC think these schemes have been used to rich people to avoid paying tax, when in reality they have been used by working people scared into using them due to salesmen.....

I note that the BN66 responses were dismissed out of hand as I expected them to be.....

Exactly...sold into schemes that were suppose to take you out of IR35...

Gaulke has totally got this wrong thinking that the people who went into these schemes were very wealthy. The response I have just read utterly ignored the Accountancy, Tax Specialist & Lawyer professions, whose reputations are on line for many who thought their advice was sound and based on case law. Gaulke has torn up the rules and is really going for his pound of flesh, regardless of the implications of many, who unfortunately were daft enough to accept the so-called professionals advice. Hindsight is a wonderful thing, why weren't the government & HMRC acting like this years ago?

The hypocrisy is of no doubt concerning Mr Gaulke... he of all people knows all about financial schemes and tax avoidance as he worked for Macfarlanes http://en.wikipedia.org/wiki/Macfarlanes

"From 1999 to 2005, he was a solicitor in the financial services group at Macfarlanes a corporate law firm."

"Macfarlanes LLP is a corporate law firm headquartered in London, United Kingdom. It advises national and multinational companies, business leaders and high-net-worth individuals in the UK and internationally across the full range of corporate and commercial matters as well as on their private affairs.

....It is regarded as forming part of the "Silver Circle" of leading UK law firms"

[TheDandy]

No surprises there then. It's sure to become a recurrent theme.......a slippery slope.......and our government complained about Russia holding Crimea to a referendum at gunpoint.

[LandRover]

Hopefully the backlash begins...

HMRC’s zeal over tax avoidance is harming investment in British film - Telegraph

"Political alarm bells should now be ringing as Parliament presides over an unprecedented transfer of power to HMRC, itself too often a watchword for incompetence. This agency of the state is being empowered not only to apply the law, but also to rewrite it.

The Government’s laudable aims both to encourage investment in industry and clamp down on aggressive tax avoidance and evasion should not be incompatible. Shamefully, HMRC is making them so. "


Written by Mark Field is MP for the Cities of London and Westminster