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BN66 - Round 2 (Court of Appeal)

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    efficient tax planning

    Originally posted by Emigre View Post
    Yes, in my book "tax efficiency" = legal tax mitigation which as you say in red top lingo = tax dodging scum. That does appear to put him in the same place as us!

    It also tends to be the same people who quickly forget that most contractors don't claim benefits when they are on the bench.

    Can't comment on Tornados and pasta!
    A case in point on efficient tax planning, I assume HMRC will implement a retro tax to catch out Google??:

    Britain loses out in Google's tax avoidance | Business

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      The end is nigh ?

      Couldn't the reason that it's dragged on for as long as it has be that they've been trying cover every possible reason for appeal in the judgement so that there's no further grounds for appeal and this really is the end.

      Sometimes I wish it would just come to and end one way or another, but then you have to be careful what you wish for.

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        Originally posted by rosbiff View Post
        Couldn't the reason that it's dragged on for as long as it has be that they've been trying cover every possible reason for appeal in the judgement so that there's no further grounds for appeal and this really is the end.

        Sometimes I wish it would just come to and end one way or another, but then you have to be careful what you wish for.
        falling on whose side HMRC's or ours, works both ways remember...

        Im just hoping it takes long enough for the property market to pick back up so my investment property equity is the equivalent of my potential debt.

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          OMG

          Hadn't logged on this week - and now i wish i hadnt ... that way I wouldnt have this horrid feeling in my tummy.........

          Guess the upside is im half way through the fretting period that all the diligent peeps had

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            3 more sleeps

            Originally posted by elpinar View Post
            Hadn't logged on this week - and now i wish i hadnt ... that way I wouldnt have this horrid feeling in my tummy.........

            Guess the upside is im half way through the fretting period that all the diligent peeps had

            3 more sleeps
            3 more sleeps

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              I'd be astonished if we got an end to this on Monday as I can't see any judgement being so watertight that it can't be appealed somehow by either side, which I assume is what either 'losing' party would do. Personally I'm looking on Monday as the next necessary step to go through on the still long road to getting a resolution.

              Obviously that's not to say I'm not sick to the back teeth with the whole situation . . . . . .

              Comment


                Originally posted by bombaycat View Post
                I'm assuming that all this will drag on for years yet in some form or other, I'm finding it hard to get more than mildly interested in Monday's judgement. Not worth expending so much nervous energy on worrying, action is the only worthwhile energy expenditure, worrying is counter-productive. In case anyone has a pop I do have 6 figs riding on this but I haven't actively worried for a couple of years now and it hasn't made any difference to events. When there's something we can do I'll be all over it - until then I'm relaxing... ;-)

                Thanks DR for all the updates helps to have such consistency - you should get an OBE for services to the community!
                Similar view as me. Despite my house-repossession sized liability (though not a bankruptcy one), there's still nothing I can do about it. Rates for me are lower than they were 10-15 years ago so I can't raise the funds through saving.

                I could quite happily sit on the uncertainty for another 10 years...

                Comment


                  Originally posted by Taffia View Post
                  I'd be astonished if we got an end to this on Monday as I can't see any judgement being so watertight that it can't be appealed somehow by either side, which I assume is what either 'losing' party would do. Personally I'm looking on Monday as the next necessary step to go through on the still long road to getting a resolution.

                  Obviously that's not to say I'm not sick to the back teeth with the whole situation . . . . . .
                  How about this scenario? HR legislation gives a "wide margin of appreciation" to Member States when it comes to taxation. In broad terms that expression has never been defined. This case may start defining it. The LJs could simply say that retrospection of 6 years for Huitson, and potentially 21 years back to Padmore, is beyond that "wide margin".

                  Yes, that would mean a win for us on our case but it would not be a loss for HMRC on their holy grail of retrospection since anything less than 6 years or under slightly different circumstances could still be potentially acceptable to the Courts.

                  In this circumstance, do you think HMRC would appeal? Under appeal they could potentially lose the whole lot. Again though it will all depend upon the wording in the decisions. Also not forgetting the Shiner case which could also give us something to drink to.
                  Join the No To Retro Tax Campaign Now
                  "Tax evasion is easy: it involves breaking the law. By tax avoidance OECD means unacceptable avoidance ... This can be contrasted with acceptable tax planning. What is critical is transparency" - Donald Johnston, Secretary-General, OECD

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                    Appeals Process

                    Someone asked me to clarify this because there seems to be some confusion.

                    The Court of Appeal could give leave to appeal to the Supreme Court but this is highly unusual. As an aside, they could also refer PwC's case to the European Court of Justice.

                    It is much more likely that either us, or HMRC, would have to apply to the Supreme Court.

                    Given the contentious nature of the case, and precedents involved, it is inconceivable to me that the SC would not hear the case. The Seychelles guy Gaines-Cooper got his case heard by the SC and this was far less contentious and wide reaching.

                    Comment


                      Originally posted by bombaycat View Post
                      I'm assuming that all this will drag on for years yet in some form or other, I'm finding it hard to get more than mildly interested in Monday's judgement. Not worth expending so much nervous energy on worrying, action is the only worthwhile energy expenditure, worrying is counter-productive. In case anyone has a pop I do have 6 figs riding on this but I haven't actively worried for a couple of years now and it hasn't made any difference to events. When there's something we can do I'll be all over it - until then I'm relaxing... ;-)

                      Thanks DR for all the updates helps to have such consistency - you should get an OBE for services to the community!
                      Completely agree with you Bombaycat, there's no point getting stressed about Monday's decision, as the chances are it's going to drag on a lot longer.

                      Goes without saying that we all owe thanks to DR for his help!
                      'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
                      Nick Pickles, director of Big Brother Watch.

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