• 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!

Track the Finance Bill 2020-21 here

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #91
    Originally posted by webberg View Post
    I think you are placing a heavy burden on legislation that has not passed into law and trying to second guess it at this stage is an impossible task.

    In general however, we have a self assessment tax system. That means that claims for relief etc are the burden of the taxpayer.

    That is the TAXPAYER.

    Not the agent/accountant/scheme promoter.

    You cannot rely upon the advice of another in submitting YOUR tax return.


    So not being a tax expert and paying someone to file YOUR tax returns, they are not responsible or can be held to account for what they "return" in any way or form?

    Yes - I paid Smartpay to file my returns.

    Comment


      #92
      I wonder what webberg is advising clients to put on their 2018/19 tax return regarding the LC?

      From what he's saying, it sounds people won't be able to rely on his advice.

      Originally posted by webberg View Post
      You cannot rely upon the advice of another [like me]] in submitting YOUR tax return.
      FTFY.

      Last edited by cojak; 1 July 2020, 19:37. Reason: FTFY.
      Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

      Comment


        #93
        Originally posted by MKCIARN View Post
        So not being a tax expert and paying someone to file YOUR tax returns, they are not responsible or can be held to account for what they "return" in any way or form?

        Yes - I paid Smartpay to file my returns.
        You are paying a tax expert to explain to you your obligations and how what is being filed meets or falls short of those obligations.

        Their duty is to explain the benefits and risks of what you are signing for.

        If they have not, you can sue them.

        Almost all tax agents will ask you to sign a disclaimer which explains that it is YOUR obligation to ensure tax filings are correct.

        A Judge will think that a reasonable person who is asked to sign something that he does not understand or appreciate the consequences of but signs anyway, is not acting reasonably.

        I have no idea if SmartPay was a registered tax agent - ask them.

        There is absolutely no requirement for a tax agent to have any particular qualifications. You can be working as a bricklayer one day and the next open up as a tax adviser. You don't need a licence to practise.

        Is that a failing? Yes, probably.
        Best Forum Adviser & Forum Personality of the Year 2018.

        (No, me neither).

        Comment


          #94
          Originally posted by webberg View Post
          You are paying a tax expert to explain to you your obligations and how what is being filed meets or falls short of those obligations.

          Their duty is to explain the benefits and risks of what you are signing for.

          If they have not, you can sue them.

          Almost all tax agents will ask you to sign a disclaimer which explains that it is YOUR obligation to ensure tax filings are correct.

          A Judge will think that a reasonable person who is asked to sign something that he does not understand or appreciate the consequences of but signs anyway, is not acting reasonably.

          I have no idea if SmartPay was a registered tax agent - ask them.

          There is absolutely no requirement for a tax agent to have any particular qualifications. You can be working as a bricklayer one day and the next open up as a tax adviser. You don't need a licence to practise.

          Is that a failing? Yes, probably.
          OK - So I did sing something, specifically

          “I declare that the information I have given on this tax return and any supplementary pages is correct and complete to the best of my knowledge and belief. I understand that I may have to pay financial penalties and face prosecution if I give false information”

          It was signed - "to the best of my knowledge and belief"

          so am I wrong to assume that todays ammandment (IF it passes) would removes the Loan Charge for anyone who completed their tax returns in the full belief that the return was accurate?

          Comment


            #95
            Originally posted by MKCIARN View Post
            OK - So I did sing something, specifically

            “I declare that the information I have given on this tax return and any supplementary pages is correct and complete to the best of my knowledge and belief. I understand that I may have to pay financial penalties and face prosecution if I give false information”

            It was signed - "to the best of my knowledge and belief"

            so am I wrong to assume that todays ammandment (IF it passes) would removes the Loan Charge for anyone who completed their tax returns in the full belief that the return was accurate?
            I have no idea if you are correct or not.

            I have no idea what the final wording may mean or how HMRC may interpret it or how a Court may interpret it.

            What we will do, if the legislation is passed, we will study what it actually says, we will read the Parliamentary debates that explain what Parliament thinks it means, we will examine any statements that HMRC care to make, we will read what other tax advisers publish about it, we would probably discuss it with tax barristers.

            Once we have absorbed the above, we will come to a view.

            We will explain that view to any who contact us and ask, taking into account their history and context.
            Best Forum Adviser & Forum Personality of the Year 2018.

            (No, me neither).

            Comment


              #96
              Originally posted by DealorNoDeal View Post
              I wonder what webberg is advising clients to put on their 2018/19 tax return regarding the LC?

              From what he's saying, it sounds people won't be able to rely on his advice.




              Not sure I'm very happy about a statement I've made being edited in such a way as to have it say something I did not say or intend.

              I'd appreciate you taking steps to show that YOU have inserted words into the quote that I did not include.

              Thanks
              Best Forum Adviser & Forum Personality of the Year 2018.

              (No, me neither).

              Comment


                #97
                Originally posted by webberg View Post
                I have no idea if you are correct or not.

                I have no idea what the final wording may mean or how HMRC may interpret it or how a Court may interpret it.

                What we will do, if the legislation is passed, we will study what it actually says, we will read the Parliamentary debates that explain what Parliament thinks it means, we will examine any statements that HMRC care to make, we will read what other tax advisers publish about it, we would probably discuss it with tax barristers.

                Once we have absorbed the above, we will come to a view.

                We will explain that view to any who contact us and ask, taking into account their history and context.
                I think its worth adding that the opinion of a well known Tax Barrister was that if passed it would mean in general most people would not be considered "deliberate avoiders and were acting in good faith. However what Graham says above does have some sense in that HMRC do like to interpet stuff their own way.

                Comment


                  #98
                  Originally posted by webberg View Post
                  I have no idea if you are correct or not.

                  I have no idea what the final wording may mean or how HMRC may interpret it or how a Court may interpret it.

                  What we will do, if the legislation is passed, we will study what it actually says, we will read the Parliamentary debates that explain what Parliament thinks it means, we will examine any statements that HMRC care to make, we will read what other tax advisers publish about it, we would probably discuss it with tax barristers.

                  Once we have absorbed the above, we will come to a view.

                  We will explain that view to any who contact us and ask, taking into account their history and context.
                  Spot on Weberg. ‘how HMRC interprets it’ will be a major factor. I’m sure their opinion will be different to everyone else’s though if it does pass.

                  Comment


                    #99
                    If you have a labour MP I suggest you email them now - as it looks like they are refusing to support NC31....

                    Comment


                      Originally posted by DavidD View Post
                      If you have a labour MP I suggest you email them now - as it looks like they are refusing to support NC31....
                      oh dear. Thats it then what with the 3 line whip in the Tories

                      Comment

                      Working...
                      X