Hi. I realise that many legal challenges have been made to the retrospective loan charge. Has any group considered a legal challenge of negligence? Our schemes were declared on our tax returns. These tax returns were accepted and for years we thought that everything was OK, legal and all above board. HMRC has been negligent in allowing this situation to occur.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Counter Avoidance
Collapse
X
-
-
Originally posted by Retrospective View PostHi. I realise that many legal challenges have been made to the retrospective loan charge. Has any group considered a legal challenge of negligence? Our schemes were declared on our tax returns. These tax returns were accepted and for years we thought that everything was OK, legal and all above board. HMRC has been negligent in allowing this situation to occur. -
At least one group has taken another look at this in light of the BoJo court case.
You need very deep pockets and alot of time. And the judiciary are still very much in favour of HMRC. A few token cases may get to win.Comment
-
Originally posted by Retrospective View PostHi. I realise that many legal challenges have been made to the retrospective loan charge. Has any group considered a legal challenge of negligence? Our schemes were declared on our tax returns. These tax returns were accepted and for years we thought that everything was OK, legal and all above board. HMRC has been negligent in allowing this situation to occur.
We have a self assessment system. If you have fully reported all of your income and sources of income and HMRC still fails to open an enquiry, then you have protection under the law.
That protection is undermined severely by the loan charge of course, but the defence there is that it is a new charge on a new source.
If you did declare the scheme on the tax return - fully - you are very unusual. Most did not. Mainly because the promoter told them that they did not have to (wrong advice in most cases).
Also HMRC did not "allow" this to occur. HMRC has no power to approve a business nor to disapprove it and close it. If the business is engaged in evading tax, then they can prosecute for that, but no business ever has to have HMRC approval to be set up or operate.
Tempting as it is to blame other parties for the mess, (and HMRC for sure has a lot to answer for), at the end of the day it's caveat emptor and accepting that you may have been taken in, fooled, duped, scammed or whatever word you choose is the first step to understanding the issues and dealing with them.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment