Business Adviser. Chartered Certified Accountant and Chartered Tax Adviser. NLP Master Practitioner.
Scotland
Joined May 2011
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Not one single person invited by LCAG to meet with the APPG on 2nd December, to discuss the outcome of the McCann Review, was someone who’d agreed a settlement only to find that astonishingly the ex-CIOT President then recommended better terms for those who hadn’t!
HMRC had just lost in the First Tier Tax Tribunal when they undertook a behavioural psychology experiment to get people with a legitimate tax dispute to throw in the towel.
Dan, a tax lawyer, says it’s okay for HMRC to circumvent the Courts when the result doesn’t go their way.
At the time of the behavioral psychology experiment by HMRC in 2012 "to encourage users to withdraw from the scheme", HMRC had just been defeated in it's arguments v Rangers in the FTT (Murray Group Holdings). The case law at that time did not support HMRC applying a PAYE charge.
Gordon Berry retweeted
Current settlement terms mean those who disclosed their loans will pay more than those who did not. That discourages compliance. HMRC should amend settlement terms to remove interest, APN Penalties & IHT to ensure that those who disclosed are not penalised over
those who didn’t.
Trevor is Sussex LC Group isn’t he, despite his pretence. Trevor is now an LCAG director & another gullible member of what WTT are selling.
As a Director of LCAG & someone who thinks themselves knowledgeable enough to write #loancharge articles as if they were factual, what does Trevor believe?
Trevor wanted a tax deduction for something not being taxed (until LCAG’s misguided argument).
Is this a priority for LCAG!
In 2019 WTT said they would "develop a safe haven for loans". Was this just yet another unfulfilled promise?
Did WTT help you move or write-off your loans?
#loancharge
Gordon Berry retweeted
It’s a travesty that those with pre-DR loans haven’t been offered these improved terms. Nor have those who stretched themselves to the limit to settle by the 2020 deadline & who may still be paying & still in danger of default.
Some struggled to pay the tax but still face fhe IHT
The body speaks (unconsciously).
Watch him shake his head each time he makes a false claim.
It’s almost comical.
Wait, I thought HMRC said the CCM’s were there to help. I’m sure tax club said the billionaires would welcome them. Reckon HMRC just want to help make sure their “customers” don’t miss out on any tax reliefs, or expense claims.
Times up for those who simply refuse to settle?
#loancharge
🗣️ "I will be giving HMRC funding to improve compliance and stronger powers to collect overdue tax from those who can clearly afford to pay, but ignore repeated contact." - Chancellor John Healey
trib.al/C6AYVmp
Gordon Berry retweeted
"Savings & property income: From April 2027, tax rates on savings & property income will rise by a further two percentage points across all bands". Rates of 24%, 44% & 49% for affected income. So much for the manifesto promise not to increase income tax @UKLabour
Income £1.392 trillion
Expenditure £1.506 trillion
Shortfall (Deficit) £114 billion
gov.uk/government/publicatio…
"reforming the administration of self-assessment income tax, bringing those affected in line with the majority so they make smaller, more regular payments"
Accelerating cash collection on the back of MTD?
Gordon Berry retweeted
The Chancellor announces more funding for HMRC compliance activity and stronger powers to recover overdue tax from those who can afford to pay but repeatedly ignore contact. The Government says the measures will help close tax loopholes.
#Budget2026
I wonder who this is aimed at?
#loancharge?
LCAG have encouraged the APPG to write to the Public Accounts Committeee seeking an enquiry into HMRC's failure to collect money due under the #loancharge.
But LCAG omit to tell the APPG that they & WTT Consulting promoted & sold the non-compliance that caused that situation🤷♂️
The McCann Review example
(a) total loans & salary of £30k a year in 2013. NI included in tax calc.
(b) still just £30k 6 years later in 2019,
(c) but 6 years after that it shot up to £48k
So
(a) tax & NI unpaid seems high
(b) #loancharge seems low
(c) affordability seems high
Rather than try to summarise in a series of tweets, the below illustrative example will be of interest to #LoanCharge affected taxpayers.
