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So you would advocate the abolishment of ISA's and the retrospective application of tax then? Or the retrospective application of tax to your pension contributions? There have been some pretty extreme examples of tax avoidance using the latter that have gone completely unchecked.
Had the...
actually legally he doesn't - he sold it within the 3 year relief window after he designated it his secondary residence. the real question to be asked is how he can justify it "morally" - after all he flipping his property, received taxpayers money to renovate it, and then sold it at a vast profit.
before we all get excited - if we think we can persuade the tax courts to support our view I'd like to understand why that wasn't MP's first line of attack?
so presumably they cancel the original notice and open a new enquiry.....never mind as you say it was very specific and it's really grasping at straws..
I do hope you are right - but I wouldn't be surprised if we are being thrown to the wind. Then I'd be happy to pay for a PR campaign - but...
wasn't there a case of a few closure notices dismissed because the correct procedure hadn't been followed? how do we check to see if our own notices were issued correctly? interestingly I only recall seeing notices for 3 out of the 5 years my online tax account states I owe...
DR - given you...
Okay - I should clarify - I don't suggest for a minute that we take legal action now against Montpelier - but I would at least like to know where we stand. As I said it will probably come to nothing (ie the winding up of the Montpelier tax company makes for interesting timing) but I would rather...
I think a reality check is in order.
Do you really think Joe Public is going to be outraged on our behalf? How many of them actually would have liked to have seen MP's retrospectively taxed over their expenses? As for attempting to get MP's on our side I very much doubt anyone would touch us...
Yes - that was the line I was given as well. I still have the presentation which includes a worked example showing exactly that - oh and no interest of course.
I do have to wonder why Montpelier have stuck with this so long and not thrown in the towel - perhaps because they know they will face...
Thanks DR - personally my belief is that this is the area where our efforts should now lie. Accept that we are liable but the application of interest is unjust prior to the legislation in 2008.
As to an an earlier suggestion of re-stating our returns I still think this is something we should be...
and another thing...
and another thing...
I don't suppose anyone ever asked Montpelier what liability insurance they had at one of their now infamous recruiting sessions. and if they had, how it applied?
I sure wish i had...