Reply to: Seminar on HMRC actions, EBT's and Tax Assessments/Enquiries/COP 8

[nubie]

willing to contribute

Hi Guys,

Im late to the party as post was sent to wrong address, HMRC are accepting my appeal and this is being sent now! I am happy to contribute to the fund also and fight this all the way!

Is there anyway we can purchase the presentation at all?

How long could this go on for?

[Jashan]

Sorry missed the seminar. I have provided availability in the doodle poll, but did not receive any confirmation of seminar. So thought it all went cold. But good to know that it did indeed happen. Would appreciate if anyone can throw some light on what happened at the seminar, or upload the video to youtube or so (selectively share the video). Happy to share the costs, if any.

[smgrant78]

Catching up with threads

I also missed the seminar but reading the thread it seems (as expected) we are in the sit and wait period.

Most have appealed, the government has written back to say it has deferred the tax liability (for now!) and is adding punitive interest.

I sense this will not go away and would be interested in establishing a 'fighting fund' as a collective fund will give us greater strength against the deep pockets of HMRC.

[bedworthlad1972]

If there was an insurance policy available to cover costs and tax liabilities for this I would sign up immediately however i dont think there is.

Like you the reality of the situation is that this will not go away and to prepare for the worst and hope for the best. So I will in the first instance get a CTD to stop any additional interest accrues for 08/09. I will then save every penny i have to ensure I have adequate money in place to weather any other potential liabilities.

Did anyone ask Michael how succesful he had been in terms of success at Tribunal, hearings etc? If the response is....you should of gone to the seminar...then fair enough!

Is the outcome "view" of the seminar basically pessimistic then? Or is it just that there's little we can do but hope and wait? It's just that the tone of "the reality of the situation is that this will not go away" is somewhat unnerving, although I am certainly not naive to the possibility that I could be shelling out money to the HMRC in a few years.

[aexport]

CTD - HMRC

Sorry what is a CTD? I too am saving every penny towards any further potential liabilities but with interest adding on all the time it means the goal post will be forever moving!

HM Revenue & Customs: The Certificate of Tax Deposit scheme
"Under the Certificate of Tax Deposit scheme you can make deposits with HM Revenue & Customs (HMRC) for later use to pay off certain tax liabilities"

[Shrek77]

If there was an insurance policy available to cover costs and tax liabilities for this I would sign up immediately however i dont think there is.

Like you the reality of the situation is that this will not go away and to prepare for the worst and hope for the best. So I will in the first instance get a CTD to stop any additional interest accrues for 08/09. I will then save every penny i have to ensure I have adequate money in place to weather any other potential liabilities.

Did anyone ask Michael how succesful he had been in terms of success at Tribunal, hearings etc? If the response is....you should of gone to the seminar...then fair enough!

Sorry what is a CTD? I too am saving every penny towards any further potential liabilities but with interest adding on all the time it means the goal post will be forever moving!

[bstar1]

My thoughts are, even if an insurance policy did exist, it would be very unlikely that they would insure you, bearing in mind we've already been notified by HMRC that we're being looked into....

Apologies...I stand corrected, I incorrectly defined the term "insurance", I meant a sinking fund of some sort that is administered professionally to fight a case that will set the president for all of us but fight it well., should it EVER come to it or go the distance to European level.

[Sky Rocket]

Like some of you I attended the seminar and basically it was a reality check on the situation from our perspective and the HMRC perspective, Michael was articulate and accurate in recalling off facts and didn’t hold back as to worst case scenarios, but to summarise::there is no solution or what’s going to happen next....we are not in control of this.

One of the positives I got from the meeting was we all had a common concern and cause and we could all interact face to face whilst all being there.

After mulling it over at the weekend, I realised, that this is not going to go away, not only for 08/09 and there is a likely hood that previous and current years could also get resurrected for liability, and this may happen to some of us and for some it might just be postponed for a few years and yes some may get away scot free. I say Scot Free but that would only be after 20years of that tax year as this is ultimately how far HMRC can go back, one thing I don’t think can be changed from retrospective law. This attack on loans is being driven politically from central government; the only way I can see it stopping is if central government changes focus and so much can happen in 20 odd years.

So what do we do? HMRC are on the attack as an organised and financially resourceful unit, we're all sitting ducks, reading a lot and making opinions and some writing letters and some meeting with PM’s, some waiting and watching, I don’t think that cuts it enough to be honest, yes we have the NRTM but we also need to attack, it’s a scheme we believe in and it worked and was lawful.

We ALL have a common cause but a very worthy opponent. Most of you have done the response appeals for 08/09 but what about previous years and current years? These are all potential liabilities.

We need to get organised and become financially resourceful against ALL potential liabilities, someone is going to be taken to tribunal are we really just going to sit it out and see, especially when our opponent is so worthy they will be up against a minor with a second rate tax barrister and then accept that this will set the president for all of us not just for 08/09 but all years past & present ....it’s a huge risk a worse one than when we decided to join these EBT schemes.

What we need is insurance in that for the next 20 years or so, if this dies and then gets resurrected or dies again and get resurrected aging we are protected; POLL TAX was abolished by the people not government, hasn’t come back yet...why??

Think about the entire loans you have and if you would put money into an organised, robust tax insurance policy specifically designed to defend against a loan agreement be it from and EBT scheme, MSC scheme etc that will fight your case with more than enough financial capital thorough to the European level which will then set the precedent not only for you but everyone, at least we gave it good whatever happens and what’s the loss to do so ....say £1000 ....if there were 500 of us we’d have a £500,000 bond against HMRC, and if there were 1000 or 2000 of us. We all need to be part of one policy to insure us against specifically for EBT’s.

I’m not one for spearheading this, this is just my opinion and for your thoughts to be triggered.

My thoughts are, even if an insurance policy did exist, it would be very unlikely that they would insure you, bearing in mind we've already been notified by HMRC that we're being looked into....

[bstar1]

Seminar Summary....

Like some of you I attended the seminar and basically it was a reality check on the situation from our perspective and the HMRC perspective, Michael was articulate and accurate in recalling off facts and didn’t hold back as to worst case scenarios, but to summarise::there is no solution or what’s going to happen next....we are not in control of this.

One of the positives I got from the meeting was we all had a common concern and cause and we could all interact face to face whilst all being there.

After mulling it over at the weekend, I realised, that this is not going to go away, not only for 08/09 and there is a likely hood that previous and current years could also get resurrected for liability, and this may happen to some of us and for some it might just be postponed for a few years and yes some may get away scot free. I say Scot Free but that would only be after 20years of that tax year as this is ultimately how far HMRC can go back, one thing I don’t think can be changed from retrospective law. This attack on loans is being driven politically from central government; the only way I can see it stopping is if central government changes focus and so much can happen in 20 odd years.

So what do we do? HMRC are on the attack as an organised and financially resourceful unit, we're all sitting ducks, reading a lot and making opinions and some writing letters and some meeting with PM’s, some waiting and watching, I don’t think that cuts it enough to be honest, yes we have the NRTM but we also need to attack, it’s a scheme we believe in and it worked and was lawful.

We ALL have a common cause but a very worthy opponent. Most of you have done the response appeals for 08/09 but what about previous years and current years? These are all potential liabilities.

We need to get organised and become financially resourceful against ALL potential liabilities, someone is going to be taken to tribunal are we really just going to sit it out and see, especially when our opponent is so worthy they will be up against a minor with a second rate tax barrister and then accept that this will set the president for all of us not just for 08/09 but all years past & present ....it’s a huge risk a worse one than when we decided to join these EBT schemes.

What we need is insurance in that for the next 20 years or so, if this dies and then gets resurrected or dies again and get resurrected aging we are protected; POLL TAX was abolished by the people not government, hasn’t come back yet...why??

Think about the entire loans you have and if you would put money into an organised, robust tax insurance policy specifically designed to defend against a loan agreement be it from and EBT scheme, MSC scheme etc that will fight your case with more than enough financial capital thorough to the European level which will then set the precedent not only for you but everyone, at least we gave it good whatever happens and what’s the loss to do so ....say £1000 ....if there were 500 of us we’d have a £500,000 bond against HMRC, and if there were 1000 or 2000 of us. We all need to be part of one policy to insure us against specifically for EBT’s.

I’m not one for spearheading this, this is just my opinion and for your thoughts to be triggered.

[convict]

Also been away due to school holidays, happy to contribute if there are any material that can be shared.

I did capture the event. Unfortunately I only got the first 20 minutes of the presentation plus the QA session*. I've not looked at it yet to see if quality is usable. Once I've had a chance to go through it I'll report back.

* I captured in 1080p and it looks like my android device allows for max ~2GB files, hence it crapping out after 20 minutes. I spotted this after the first session so started a new file every ~20 mins for the QA session.

[LordF]

Hi

I've been away So also
Unable to attend . I'd also be interested in contributing in return for info from seminar

Also been away due to school holidays, happy to contribute if there are any material that can be shared.

[Shrek77]

Hi

I've been away So also
Unable to attend . I'd also be interested in contributing in return for info from seminar

[mdg]

Post-event discussion

Hi Convict/Michael

I unfortunately can't make the Saturday, but am very interested in getting as much information as possible. If it is available, I would be more than happy to contribute to costs if there was any material/info packs/recordings available from Saturday.

If you could drop me a quick PM if so..

Cheers
CDJ

Hi Convict / Michael

I unfortunately could not make saturday as away so missed it. I'd be happy to contribute also to be involved and see the materials etc.

Please send me a PM for this also if this works
Thanks
Matt

[fallguy]

Missed it!

Hey convict really sorry didn't keep up to date on this. How did it go yesterday? Will there be any notes at all?

[convict]

Hi Convict,

I've replied to the hmrc email address you posted, but I haven't yet received a reply.

I just wanted to confirm that you had me on the list?

Thanks,
HAM

please resend to [email protected] and/or pm me your email address.