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Your hugs and kisses and your money too

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    Your hugs and kisses and your money too

    BBC News - MPs raise concerns over new tax powers in Budget

    Plans to allow the tax authority to settle unpaid demands by taking money from people's bank accounts have been criticised by a group of MPs.

    The Treasury Committee says it is very concerned because tax officials have a history of making mistakes.

    Chancellor George Osborne unveiled the plan at this year's Budget.

    But in a wide-ranging report, the committee did welcome another Budget plan - to allow greater flexibility on how pension savings can be used.

    In the Budget, Mr Osborne outlined plans for new powers for HM Revenue and Customs (HMRC) to recover tax debts from anyone who owes more than £1,000 in tax or in tax credits.

    This would allow the tax authority to seize the tax owed directly from debtors' bank accounts.
    Good idea to give Hector an open checque?
    Always forgive your enemies; nothing annoys them so much.

    #2
    A bad idea.

    I must spend some more time finding out how to open an offshore bank account where Hector cannot stick his mitts.

    Comment


      #3
      He said the committee also had "deep reservations" about changes to tax policy that would require upfront payment of any disputed tax associated with tax avoidance schemes.

      "Retrospection should be considered only in wholly exceptional circumstances. The latest measure would have to be justified on those grounds," Mr Tyrie said.


      Retrospection is only legal in 5 countries in the world. It should be outlawed.

      About time the politicans concentrated on changing laws prospectively. Like amazon, starbucks paying tiny amounts of tax.

      Comment


        #4
        Full consultation document here: https://www.gov.uk/government/upload...y_of_Debts.pdf

        There are some safeguards in place, but scary to think that HMRC could go after unpaid CT in this way, and Determinations too (which are their best guess of what you owe if you fail to file a return).
        ContractorUK Best Forum Adviser 2013

        Comment


          #5
          Originally posted by KentPhilip View Post
          A bad idea.

          I must spend some more time finding out how to open an offshore bank account where Hector cannot stick his mitts yet.
          FTFY
          Socialism is inseparably interwoven with totalitarianism and the abject worship of the state.

          No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.

          Comment


            #6
            What BP said.
            PS Ta for reminding me of another great song.

            ZZ Top - Gimme All Your Lovin' - YouTube
            bloggoth

            If everything isn't black and white, I say, 'Why the hell not?'
            John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

            Comment


              #7
              Originally posted by BrilloPad View Post
              About time the politicans concentrated on changing laws prospectively. Like amazon, starbucks paying tiny amounts of tax.
              They can afford expensive lawyers to drag out the cases for years and to go to every form of court possible.

              The likes of small businesses can't.
              "You’re just a bad memory who doesn’t know when to go away" JR

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