Thursday 12 July 2012

No To Retro Tax



My thanks to the good people of NoToRetroTax for their amusing video.

NoToRetroTax are campaigning against the retrospective tax legislation introduced in Section 58 of the UK Finance Act 2008.
"Section 58 targeted a legal and transparent tax planning scheme involving double taxation treaties which HMRC had known about for years. It retrospectively amended an Act of Parliament from 1987, making it appear as though the scheme had never been lawful. As a result, some 3,000 individuals are facing bankruptcy as a result of retrospective tax demands going back many years.

The No To Retro Tax campaign has been created by a group of victims of Section 58. Its members comprise professionals from a wide range of backgrounds including freelance IT engineers, property developers, and healthcare workers.

The campaign is lobbying for an amendment to Section 58(4) of the Finance Act 2008 to remove the retrospective elements of the legislation, bringing it in line with the Rees rules and HMRC protocol and meaning that retrospective tax liabilities would only accrue from the moment the intention was announced to close the affected scheme, and not for the period in which they were operating legally."
Tax does have to be taxing.





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20 comments:

  1. I'm fascinated that 'healthcare workers' were part of this scheme. What specific job were they doing? Nurse, paramedic, cleaner?

    ReplyDelete
    Replies
    1. I thought exactly the same Stuart, a not very subtle way to avoid saying Consultants. And if they are made "bankrupt" by being asked to pay tax they have avoided then something is seriously wrong with their financial management. That said there is something morally wrong, imo, with retrospective taxation changes.
      Did/do you work for HMRC Stuart?

      Delete
    2. They were Doctors.

      My friend XXXX, a GP earned £175,000 a year whilst in this scheme and paid 3% tax.

      He was in it for 5 years. Earned £875,000 and paid a total of £25,000 in tax

      Delete
    3. ... And it should be "HMRC ARE shite".

      Idiot.

      Delete
    4. WAAAAH HE GOT A VERB WRONG WAAAAH

      Nevermind HMRC's criminal retroactive alteration of the law.

      HE GOT GRAMMAR WRONG WAAAAH

      Delete
    5. Time to pay up. Thief.

      Delete
  2. Tax avoiders deserve all they get

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    Replies
    1. Indeed,

      Fucking scum. Parasitical scum.

      Delete
    2. "Indeed,

      Fucking scum. Parasitical scum."

      Firms on a market must seek out their customers and offer them a reason to part with their money.

      HMRC forces everyone to "contribute" to it and finance any and every idiotic government scheme, irrespective of whether they support it, irrespective of whether it is "democratic" (note: this is codeword for 50%+1 of the populace get to clobber the rest of it if they win in an election; typically it's even less than this), and produces nothing of value.

      Most government services could be produced on the market, and have been historically. So we are forced to pay for shitty services, "administration fees" and to lick the feet of our "betters", and you have the fucking gall to call us who try to escape the predations of this criminal institution "parasitical"?

      What kind of legal principle is it to retroactively apply legislation by stealth, anyway? what sort of scum resorts to this? Apparently, HMRC.

      "Tax avoiders deserve all they get"

      Slaves who praise their masters deserve even worse, then.

      Delete
  3. Dont forget that according to Dave "Were all in this together !"

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  4. 3% tax on £175,000 ?

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  5. Don't know where they get the 3% from, I was in the scheme earning £55K a year, and paid approx 17% tax

    The issue I have with this whole debacle is that the scheme was (according do HMRC's own documents) legal at the time, they knew about it since 1987 and allowed it to be used till closing it down 2008. The retrospection was only used to cover up their own incompetence in not dealing with it sooner.

    ReplyDelete
  6. I understand users of the iom schemes were warned early on that hmrc would challengethem. And hey, paying less tax than everyone else, in fact in some caes no tax, on employment income earned in the uk, is not legal.

    ReplyDelete
  7. Don't know where I get the 3% from? Google the judges decision. It's all in there (can't post link).

    Also I know lots of people caught. Not one of them earns less than £100,000.

    Pretty disgusting behaviour by all those involved in the scam / scheme.

    ReplyDelete
    Replies
    1. "Pretty disgusting behaviour by all those involved in the scam / scheme."

      No more disgusting than HMRC's behaviour. No more disgusting than the EU's behaviour. No more disgusting than the uK govt's behaviour.

      We all try to save money as consumers. When we are forced to consume the government's shit services, can you explain why we are not allowed to? Because...*stutterstutterstutter* to do so is *gasp* unthinkable! Immoral! Illegal!

      Or maybe because it's a fucking rip off.

      Delete
  8. You guys are worse than benefits cheats.

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    Replies
    1. Trying to reduce the amount of theft one endures is the same as trying to milk more out of the government? Here's a challenge for you, morally challenged cunt:

      Explain why I must be forced to be taxed by the government for my "own good" and why I can't simply procure the "services" it provides privately. Why must I be forced to pay for it? Where is the contract between it and myself that -I- signed? Where is its legitimate claim to the vast holdings it claims by pure ipse dixit? I want you to perform a cost-benefit assessment of every single policy that draws on taxes, at the very least showing why it is worth the taxes I pay. I also want you to ponder the implications of supporting policies such as war in foreign countries, meaning your money is soaked in blood.

      Then come back. You probably won't. Good riddance.

      Delete
    2. Dry your eyes, ZL!

      Then read this and come back when you're ready to curb your revolting language so that (1) people might be prepared to engage with your (actually quite philosophically legitimate) questions and (2) you don't immediately cede any claim to the moral high ground that you might otherwise have had.

      Stew G



      Delete
    3. Oh dear dear dear ZL.

      Looks like your time is fast approaching. No point in resorting to verbal abuse.

      Pay what you owe (including penalties and interest of course ;).

      Now there's a good tax dodger.

      Delete
  9. Fuck morals. This was legal.

    This just smacks of socialist jealousy .. "Oh look at that naughty hard-working Doctor / Property Developer / IT consultant over there earning hundreds of thousands of pounds and paying 3% tax .. THAT'S NOT FAIR .. WHY CAN'T I HAVE SOME OF IT????"

    3% tax on £300,000 is a hell of a lot more than income tax on one of your hero teacher or nurses shitty salary.

    Do the f*cking math and stop complaining before this comes back to bite you in the arse. Retrospectively.

    The irony is that if HMRC win and i have to pay these robbing b*stards then i'll simply take my family AND MY TAXES to another country. One that actually rewards hard work and not lazy dolescum parasites. Which i'm guessing you are Anonymous.

    ReplyDelete