The tax promoters have said that they will fight each and every case even where they have lost.These schemes border on "shams" and every other tax payer including myself is paying additional tax .This is tying up the system so that genuine tax payers who have a case are waiting to sort out their tax affaires
If the Promoters are are so convinced that there schemes work what is wrong with them paying the tax up front-at the end of the day if they win they will get interest on the overpayment.It is more likely that tax payers will correctly shy away from such schemes if they have to pay tax upfront and then wait several years to possibly recover this tax.The Promoters might also respond more quickly and honestly to HMRC letters if they want the situation resolved quickly!
I have never understood how HMRC can be expected to believe that shareholders are putting large amounts of monies into say an EBT for the benefit of their employees and then strangely funds never go to the employees but were lent back to the shareholder.The only people crying about these proposals are the Promoters.The genuine honest accountants are cheering.
I would really like to sit on a committee but sadly would not happen and even then would need to be referred elsewhere.
My answers
Scams
The tax promoters have said that they will fight each and every case even where they have lost.These schemes border on "shams" and every other tax payer including myself is paying additional tax .This is tying up the system so that genuine tax payers who have a case are waiting to sort out their tax affaires
If the Promoters are are so convinced that there schemes work what is wrong with them paying the tax up front-at the end of the day if they win they will get interest on the overpayment.It is more likely that tax payers will correctly shy away from such schemes if they have to pay tax upfront and then wait several years to possibly recover this tax.The Promoters might also respond more quickly and honestly to HMRC letters if they want the situation resolved quickly!
I have never understood how HMRC can be expected to believe that shareholders are putting large amounts of monies into say an EBT for the benefit of their employees and then strangely funds never go to the employees but were lent back to the shareholder.The only people crying about these proposals are the Promoters.The genuine honest accountants are cheering.
I would really like to sit on a committee but sadly would not happen and even then would need to be referred elsewhere.