I'm coming to the conclusion... I'm coming to the conclusion...
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  1. #1

    Godlike


    Join Date
    Mar 2008
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    5,650

    Default I'm coming to the conclusion...

    ...that the only way to avoid being clobbered is to leave the country.

    I'm not advocating this. Just highlighting how fast other options are running out.

    HMG/HMRC are determined to extract (extort?) the money from people one way or another.

    First there were APNs, now the tax charge on outstanding loans.

    HMRC initially said they were going to litigate against schemes on the basis that the loans were taxable income. Now it's a case of sod that, we'll just tax the loans instead.

    Even if Rangers eventually win their appeal at the Supreme Court it may prove fruitless if the loans can be taxed in 2019 anyway.

    Ho hum.

  2. #2

    Still gathering requirements...


    Join Date
    Jan 2006
    Location
    London
    Posts
    89

    Default

    Agreed.

    They are just going all out to ruin people.

    People who thought they got away without a DA/COP 8 will get hit with charge on the outstanding loans and they hoover up all the people they missed. Negotiated settlement - forget it.(IMO)

    Struggling to see how this will end well...hope to be proved wrong.

  3. #3

    Contractor Among Contractors

    DotasScandal's Avatar
    Join Date
    May 2014
    Location
    Manchester
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    1,133

    Default

    Quote Originally Posted by DonkeyRhubarb View Post
    ...that the only way to avoid being clobbered is to leave the country.

    I'm not advocating this. Just highlighting how fast other options are running out.

    HMG/HMRC are determined to extract (extort?) the money from people one way or another.

    First there were APNs, now the tax charge on outstanding loans.

    HMRC initially said they were going to litigate against schemes on the basis that the loans were taxable income. Now it's a case of sod that, we'll just tax the loans instead.

    Even if Rangers eventually win their appeal at the Supreme Court it may prove fruitless if the loans can be taxed in 2019 anyway.

    Ho hum.
    Wise words, as always.

  4. #4

    Should post faster


    Join Date
    Mar 2009
    Posts
    185

    Default

    I have noved to south east asia. Transferred assets into my siblings' names. Will never return to england.

  5. #5

    Default

    Quote Originally Posted by EBTContractor View Post
    I have noved to south east asia. Transferred assets into my siblings' names. Will never return to england.
    Drastic, but good luck.

  6. #6

    Should post faster


    Join Date
    Mar 2009
    Posts
    185

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    Quote Originally Posted by Fred Bloggs View Post
    Drastic, but good luck.
    Work for a UK company on twice my UK salary. 15% tax. 10hr flight to Europe. Suptropical climate. Wish I'd done it 10 years ago.

  7. #7

    Default

    Quote Originally Posted by EBTContractor View Post
    Work for a UK company on twice my UK salary. 15% tax. 10hr flight to Europe. Suptropical climate. Wish I'd done it 10 years ago.
    Wow, top result. Well done. I believe many will follow you the next few years.

  8. #8

    Banned


    Join Date
    Nov 2015
    Posts
    2,692

    Default

    Quote Originally Posted by DonkeyRhubarb View Post
    ...that the only way to avoid being clobbered is to leave the country.

    I'm not advocating this. Just highlighting how fast other options are running out.

    HMG/HMRC are determined to extract (extort?) the money from people one way or another.

    First there were APNs, now the tax charge on outstanding loans.

    HMRC initially said they were going to litigate against schemes on the basis that the loans were taxable income. Now it's a case of sod that, we'll just tax the loans instead.

    Even if Rangers eventually win their appeal at the Supreme Court it may prove fruitless if the loans can be taxed in 2019 anyway.

    Ho hum.

    "UK is losing its highly skilled workers, we have to do something".

    By David Cameron*

    ...
    ...

    *Bee pretending he is DC.

  9. #9

    Nervous Newbie


    Join Date
    Feb 2010
    Posts
    5

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    What do people think the likelihood of the new tax on outstanding EBT loans making it through to legislation?

  10. #10

    More time posting than coding


    Join Date
    Oct 2014
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    330

    Default

    100%

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