No To Retro Tax – Campaign Against Section 58 Finance Act 2008

[EveryMoveCalculated]

I'm wondering how many of us are the much vaunted £250,000 mean earners with multiple income streams who also use Ltds to improve their tax efficiency, as stated by HMRC and various press reports?

Like previous posters I have used these schemes since IR35 was introduced and the sheer stress of running a Ltd and attempting to ensure I remained legal was a ludicrous overhead that put my family under a great deal of pressure.
I know for a fact that I live in an old Victorian terrace the size of a shoebox, drive a car paid for mostly by my parents, and have been consistently in and out of work since the market fell apart in 2008, losing my life savings a grand total of three times, the last occasion on the near-death of my wife during the birth of our one and only child, which forcibly put me out of work whilst I cared for her and looked after a newborn.
I've been on holiday for a grand total of two weeks in eight years, notably since having the kid so we can just spend some time together.

Obviously feel free to tear into me for the sob story but to be perpetually in a state of financial dire straights and then have the govenrment not only decide to query the validity of my finances four years after the fact, but to then announce that they intend to grant themselves the right to just take whatever they deem fit, with no independent oversight or actual proof of wrongdoing, and to change the law such that it applies retrospectively is a total kick in the teeth.

It also pretty much ensures that I will fight them to my very last breathe, as I'll quite literally have nothing else to do with my time once I'm totally bankrupt and unable to continue with my career (such as it ever was.)
When exactly did Britain become a fascist state with Guilt before Innocence?

[northernladuk]

Like previous posters I have used these schemes since IR35 was introduced and the sheer stress of running a Ltd and attempting to ensure I remained legal was a ludicrous overhead that put my family under a great deal of pressure.

You are kidding right???

[nick4notax]

Indeed. Very annoying when you get passed over just because someone is a bit cheaper even when you have been carrying out the same role in previous contracts. Might go somewhere towards levelling the playing field again.

Oh very good, trying to provoke outrage by those on here, with such an idiotic statement. Well, you can clap with glee as us and our families appear on Benefits Street. At least the show won't be littered with tattoos and profanities I suppose. Well done! Good for you!

[costo]

For those not affected by this and are commenting possibly negatively - whilst it is appreciated this is a public forum, at the moment many many people are going through some of the scariest times of their lives, as I have said in my other responses I would not wish this on anyone not even my worst enemy.

If you can at least emphasise with what is going on (even if you do not agree to it) it would be gratefully appreciated if for the time being the comments could be made in other more general threads , and let those of use affected by this be able to discuss our anguish without having to defend how we got here.

[SantaClaus]

Indeed. Very annoying when you get passed over just because someone is a bit cheaper even when you have been carrying out the same role in previous contracts. Might go somewhere towards levelling the playing field again.

Do you have any solid examples of this?

If you're going to get passed over because of cost, might as well go the whole hog and bring in some Bobs.

[SantaClaus]

I'm wondering how many of us are the much vaunted £250,000 mean earners with multiple income streams who also use Ltds to improve their tax efficiency, as stated by HMRC and various press reports?

Like previous posters I have used these schemes since IR35 was introduced and the sheer stress of running a Ltd and attempting to ensure I remained legal was a ludicrous overhead that put my family under a great deal of pressure.
I know for a fact that I live in an old Victorian terrace the size of a shoebox, drive a car paid for mostly by my parents, and have been consistently in and out of work since the market fell apart in 2008, losing my life savings a grand total of three times, the last occasion on the near-death of my wife during the birth of our one and only child, which forcibly put me out of work whilst I cared for her and looked after a newborn.
I've been on holiday for a grand total of two weeks in eight years, notably since having the kid so we can just spend some time together.

Obviously feel free to tear into me for the sob story but to be perpetually in a state of financial dire straights and then have the govenrment not only decide to query the validity of my finances four years after the fact, but to then announce that they intend to grant themselves the right to just take whatever they deem fit, with no independent oversight or actual proof of wrongdoing, and to change the law such that it applies retrospectively is a total kick in the teeth.

It also pretty much ensures that I will fight them to my very last breathe, as I'll quite literally have nothing else to do with my time once I'm totally bankrupt and unable to continue with my career (such as it ever was.)
When exactly did Britain become a fascist state with Guilt before Innocence?

Your last sentence says it all EMC. Britain is slowly sleepwalking into a fascist state.

Daily Mail readers may cheer at those "rotten tax avoiders", but they fail to see what is going on here. It starts off with legislation that only affects a few, so the general public cheer and say "they deserve everything they get". They pit one section of society against another to back up their views.

This country won't become a fascist state overnight, it is creeping up slowly and the general pubic won't notice until it's too late.

Start with GCHQ monitoring your email/skype/facebook and then add HMRC's ability to plunder your bank account whenever they like and instantly. These sort of powers used to be reserved for criminal acts such as drug dealing and money laundering, but are now being misused.

Of course, the loud opinionated posters on here won't notice until one day HMRC decides they really shouldn't be using a Ltd company as they are retrospectively deemed IR35-able. The next morning they will wake up to a zero bank balance, at which point I'll say "I told you so".

[DonkeyRhubarb]

NTRT newsletter

There has been a lot of activity to report not only the recent Budget but also the Adjudicators report, Channel 4 programme etc, and NTRT will be sending out the next newsletter on Friday 28th March.

[d000hg]

This might come as a surprise to you, but I partially agree with you. I'm not trying to paint us than whiter than white, we pushed it and we are paying an extremely heavy price. You're wrong about SMEs, we are

WE may technically be SMEs but trying to groups us in that category is misleading because in reality we are a whole separate sector, a micro-company if you will. The government is primarily chasing contractors or similar setups, saying they're chasing SMEs is like black footballers are abused for being footballers...

[BrilloPad]

At the risk of incurring official ire for straying into this thread, and I will not post again, it would also be nice to remember in this documentary all of those who were operating through normal Ltd structures and who have lost work through being undercut by competitors using a dodgy scheme.

Not content with getting banned for calling people a nonce with no evidence, you are now going a step further and sticking the boot in to those who are facing bankruptcy. Assuming you don't get a permaban, then I hope you fook off out of this thread for good.

Indeed. Very annoying when you get passed over just because someone is a bit cheaper even when you have been carrying out the same role in previous contracts. Might go somewhere towards levelling the playing field again.

Why not stick to attacking the newbies you annoying twunt. Not got anough fresh meat so you have to troll over here?

PS the biggest competition is from offshore. And I don't think anyone ever quoted a lower rate for tax reasons - if there was one I would be amazed.

Where are the mods anyway? Blatent trolling - where are the permabans? If you can't do the job then hand over the mod password to MF at the door.

[MishiMoo]

LBC right now

HMRC's new "pay now" powers just mentioned on LBC so I emailed this to the studio:

With HMRC's new powers to demand payment before ever reaching the tax courts, the scenario exists where someone is forced to sell their home in order to pay up disputed tax now. Then if they later win how on earth will HMRC "repay that with interest"?!?! The home was sold and is gone! Unfair, undemocratic, unreasonable and opposed by all the major accounting bodies! Even George Orwell could not have dreamed this one up!