Thread by @nobigfish

1. #LoanCharge
Why don't we discuss @HMRCgovuk 's own admission that the Loan Schemes that 1000s used were legal. This admission is evidenced by the language they have used, not once is legality mentioned, and by the fact that in 20yrs they have not taken 1 promoter to court.

2. This is a letter I rec'd from @HMRCgovuk in 2014 it states 'The promoters of these arrangements said that the amounts described as loans were not subject to tax as income'. They acknowledge we were given advice but 'if' wrong promoters must have acted fraudulently. #LoanCharge

3. 2014 letter from @HMRCgovuk also says 'HMRC strongly believes that these arrangements do not work & the amounts described as loans are taxable' . They don't say:
- they break any laws
- they are illegal
'Strongly believes' is an opinion not a statement of fact. #LoanCharge

4. Even as late as 2019 @HMRCgovuk were still unable to say the arrangements were illegal and used weak language such as 'it has been HMRC's view...' etc.

Would an organisation's 'view' face court scrutiny or would the law that stood at the time win out? #LoanCharge

5. In this info pamphlet sent by @HMRCgovuk they are clearly attempting to get people to pay funds which were never due by thinly veiled threats stating that court cases could drag on for years and interest & charges will pile up. Money with menaces? #LoanCharge

6. We & HMRC know arrangements were legal & approved by tax QCs. This is why @HMRCgovuk are unable to use stronger language & state they were illegal. Otherwise they wouldn't be sending out letters it would have been tax demands. It's why they needed the #LoanCharge ,see below

7. If the arrangements were legal why in over 20yrs have @HMRCgovuk not made a single conviction of a promoter? Is it because the schemes were legal all along and HMRC could do nothing via the courts to stop them?
#LoanCharge

contractoruk.com/news/0014171tr…

8. Most people in these schemes were told they had been approved by tax QCs, so why would we seek further advice? If you take a car for an mot you believe the garage's credentials, once you have the MOT certificate you don't go to another garage for a 2nd opinion. #LoanCharge