Speaking out against the #LoanCharge. 100,000 people are being denied their statutory rights because, in HMRC’s “opinion”, they don’t deserve a fair hearing.
London, England
Joined June 2017
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HMRC Victim #STOPtheLoanCharge retweeted
Suicides linked to HMRC cash demands in ‘loan charge’ tax bills theguardian.com/politics/202…
HMRC Victim #STOPtheLoanCharge retweeted
The hidden tax measure in the Budget is huge for people paying tax under self-assessment - sole traders, partners, landlords, retired investors.
For 6th April 2028-29, you currently pay 50% of your income tax late in the tax year in question (in January 2029), 50% just after the year end (in July 2029) with any make-up payment in January 2030.
Under the new proposals you will pay your tax perhaps monthly or quarterly (TBC) from April 2029 onwards. A rough analysis suggests the impact is to draw about 50% of your tax bill forward, a huge cashflow boost to HMRC and a significant funding issue for the self-employed.
The Treasury recognises this, and expects to raise £1.3bn of additional tax in 29/30 as a result of this change.
The cashflow impact of the accelerated charge will send some businesses to the wall.
HMRC Victim #STOPtheLoanCharge retweeted
Tax his land, Tax his bed,
Tax the table, At which he's fed.
Tax his tractor, Tax his mule,
Teach him taxes are the rule.
Tax his work, Tax his pay,
He works for peanuts anyway!
Tax his cow, Tax his goat, Tax his pants, Tax his coat.
Tax his ties, Tax his shirt, Tax his work, Tax his dirt.
Tax his tobacco, Tax his drink, Tax him if he Tries to think.
Tax his cigars, Tax his beers, If he cries Tax his tears.
Tax his car, Tax his gas, Find any way To tax his ass!
Tax him all he has, then let him know
That you won't be done Till he has no dough.
When he screams and when he hollers;
Then tax him more, take all his dollars
Then tax his coffin, Tax his grave,
Tax the sod in Which he's laid...
Put these words Upon his tomb:
‘Taxes drove me to my doom...'
When he's gone, Do not relax,
It's time to apply Inheritance Tax!
#BudgetDay
HMRC Victim #STOPtheLoanCharge retweeted
My commentary in today's @yorkshirepost. 'There is compelling evidence the #loancharge is continuing to cause 'serious distress..'. Please #buyapaper or subscribe today. @loanchargeAPPG
HMRC Victim #STOPtheLoanCharge retweeted
Who has "settled"? I paid HMRC to "settle" 2010-2011, they now want money to settle the Loan Charge and claim to do this I must have settled all earlier years, yet will not put in writing that they won't come after me for 2010/11 again!!!
@cammaynard
@loanchargeAPPG
@LCAG_2019
HMRC Victim #STOPtheLoanCharge retweeted
The compensation bill for the Post Office Scandal has now reached £1.7bn. Every UK taxpayer has paid £44.
Yet in 2014, the PO started mediation that could have settled claims at a fraction. They blew it. It was treated as a box-ticking exercise and a fishing expedition.
HMRC Victim #STOPtheLoanCharge retweeted
Two of the traders convicted of LIBOR manipulation, Jay Merchant and Christian Bittar, were deported from the UK and barred from returning.
Earlier this month, the Court of Appeal threw out their convictions leaving the reason for their deportation completely invalid.
Unfortunately, the deportation order will remain in place until it is removed by the Home Office.
Both men have applied to have the order revoked, and I asked the Home Office earlier to look into their cases and respond as soon as possible, not imposing any further undeserved punishment on these men.
HMRC Victim #STOPtheLoanCharge retweeted
The bonkers 'logic' here is HMRC claims they are 'helping' the taxpayer 'customer' by launching a ongoing and perpetual tax investigation.
How deluded can a government department get.
HMRC Victim #STOPtheLoanCharge retweeted
The scandal of the #LoanChargeScandal - not one promoter has been punished, meanwhile ordinary people’s lives are in tatters.
HMRC Victim #STOPtheLoanCharge retweeted
I'd like to make a statement on behalf of the recipients of this inflamatory letter who may be too polite or shy to respond. @HMRCgovuk @HMRCcustomers We don't want a 'relationship' with anyone in your department whatsoever. We, through our tax advisers, will pay what is legally due, not a penny less and certainly not a penny more. Then we want you to fuck off out of our lives.
HMRC Victim #STOPtheLoanCharge retweeted
HMRC has made 41 referrals to the police watchdog involving Loan Charge cases of serious injury or loss of life.
It investigated every one internally. It found no misconduct, every time.
🤖 Made with AI
HMRC Victim #STOPtheLoanCharge retweeted
Just posted my account of the Loan Charge and Tax Payer Fairness APPG on the 20th of October over on Linkedin lnkd.in/p/eSaD6WVd
Here I am with my MP Sarah Green one of a number who attended @SueFlood52
@GabrielleO61890
@TaxJusticeUK
@taxwatch @oliver_wright @loanchargeAPPG
HMRC Victim #STOPtheLoanCharge retweeted
I don’t have £2 million in assets, and I don’t earn £200k a year. I’m quite short on both counts. So the HMRC wealth audit doesn’t impact me. Yet.
But it signals a clear intention. A lack of respect for the individual. What is yours is only yours until the government decides they want it to fund further welfare expansion.
Property rights only exist in this country as long as your holdings are meagre enough to escape the fiscal Eye of Sauron. They will come for it all.
HMRC Victim #STOPtheLoanCharge retweeted
People are suddenly shocked that HMRC can revisit historic tax affairs.
Contractors have been living with that reality for years.
IR35 enquiries, retrospective assessments, interest and penalties attracted little public sympathy.
The powers aren't new.
The attention is.
HMRC Victim #STOPtheLoanCharge retweeted
HMRC wants to cut the time to reclaim overpaid National Insurance from 6 years to 4.
It also wants up to 20 years to chase unpaid NI where errors were deliberate.
Same HMRC that wants to take money straight from bank accounts.
Labour plans to allow HMRC to pursue unpaid NI for 20 years but reduce the time limit for taxpayers to reclaim overpayments to four years.
telegraph.co.uk/politics/202…
HMRC Victim #STOPtheLoanCharge retweeted
A MEETING FOR BILLIONAIRES
HMRC's Wealthy Team has written to a few hundred billionaires asking what they own, offering a meeting first, The @SundayTimesZA reports.
For smaller debts, HMRC wants wider powers to take money from bank accounts..
Same taxman. Two rulebooks.
lbc.co.uk/article/hmrc-askin…
HMRC Victim #STOPtheLoanCharge retweeted
This letter could have been drafted much better. It could have clearly set out that it was a fully voluntary arrangement. It could have confirmed that lack of compliance does not increase the chance of enquiry, but it is likely to reduce the severity and depth as HMRC would be more familiar with your situation.
It could have explained the positive steps HMRC is taking to improve taxpayers' experience when enquiries do arise.
But instead the choices made by the draftsman imply a sword of Damocles-style "comply or else" situation.
That's bad for our tax system, and an opportunity missed.
thetimes.com/money/tax/artic…
