04-11-2015, 23:39
I posted this on AVillaFan back in 2012 ... I stand by my 'gut feeling' today {2015} as much as then.
In Topic: The SPL Thread
It's most unlikely that the EBT was set-up in the first place without legal advice.
Now I'm no lawyer, but it seems the EBT scheme was tax-avoidance (legal) when it was set up.
HMRC are now saying it was tax-evasion (illegal). I suppose the legal arguments will be about what interpretation, 'avoidance' or 'evasion', is correct, with the verdict hanging on that. Like most folk, I have no idea what that verdict will be.
The case brings in the word that no-one wants to see in Law - 'retrospective', as in :
I did something yesterday which I was told was legal, now you are telling me it was illegal.
As for a 'gut feeling', I think any scheme that enables millionaires to escape PAYE stinks.
In Topic: The SPL Thread
It's most unlikely that the EBT was set-up in the first place without legal advice.
Now I'm no lawyer, but it seems the EBT scheme was tax-avoidance (legal) when it was set up.
HMRC are now saying it was tax-evasion (illegal). I suppose the legal arguments will be about what interpretation, 'avoidance' or 'evasion', is correct, with the verdict hanging on that. Like most folk, I have no idea what that verdict will be.
The case brings in the word that no-one wants to see in Law - 'retrospective', as in :
I did something yesterday which I was told was legal, now you are telling me it was illegal.
As for a 'gut feeling', I think any scheme that enables millionaires to escape PAYE stinks.
AVFC RFC SAFC