Time to start using the Bank of Under the Mattress

[Gumbo Robot]

Taxman gets new US-style powers to raid tens of thousands of personal bank accounts to recover debts

So, presumably, when HMRC decide that you are IR35 caught, they take the money before it even gets to court.

Really not liking this government one little bit

[BrilloPad]

Really not liking this government one little bit

Which government would you prefer? The one from Germany?

Its got nothing to do with which party got in. It that HMRC are allowed to tell the government what to do.

[Gumbo Robot]

Which government would you prefer? The one from Germany?

Its got nothing to do with which party got in. It that HMRC are allowed to tell the government what to do.

Maybe a government that doesn't let HMRC tell it what to do?

Perhaps I just don't like this country any more. I'm only still here as I've been able to make a comfortable living doing what I do but now that seems under threat
(not just from the budget but more from a general trend towards a culture that suits big consultancies over individual contractors) I reckon sunnier climes could well beckon.

[BrilloPad]

Perhaps I just don't like this country any more.

+1

I have told my kids to prepare to emigrate.

[alphadog]

I had the german finanzamt raid my german bank account last year for "taxes in advance" that I refused to pay because I knew that in that particular year I wasn't going to owe any taxes at all. So, they took the money, then after I submitted my tax return to say that no taxes are owed, they refunded the lot

[alphadog]

Taxman gets new US-style powers to raid tens of thousands of personal bank accounts to recover debts

So, presumably, when HMRC decide that you are IR35 caught, they take the money before it even gets to court.

Any ideas in the case of an IR35 investigation whether they could raid a ltd company warchest for "unpaid taxes", or would they just raid an individuals account?

[The Spartan]

The only money I leave in the company's account is corp tax, I try to take out as much as possible and put it elsewhere.

[PurpleGorilla]

Any ideas in the case of an IR35 investigation whether they could raid a ltd company warchest for "unpaid taxes", or would they just raid an individuals account?

I don't think they can raid a personal account; which is why it is a GOOD idea to keep your account lean.

[BlasterBates]

I had the german finanzamt raid my german bank account last year for "taxes in advance" that I refused to pay because I knew that in that particular year I wasn't going to owe any taxes at all. So, they took the money, then after I submitted my tax return to say that no taxes are owed, the refunded the lot

You can sort that out with a polite letter pointing out that you have no income and with an interim P&L showing 0 income. They usually respond by cancelling the demand within a couple of weeks.

You need to inform the Finanzamt that you are no longer freelancing, and sort it out when they send you the letter with their estimates at the beginning of the tax year.

A German accountant would normally do that for you.

[_V_]

I would suggest HMR&C seize everyone's primary residence, that way any unpaid tax can be taken from rampant house price inflation. Win win. They get as much money as they want, we don't even notice its gone.