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General Chat Thread, MPs at it again in General; The Finance (3) Bill is going through parliamment at the end of the month which closes a load of tax ...
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    teejay's Avatar
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    MPs at it again

    The Finance (3) Bill is going through parliamment at the end of the month which closes a load of tax loopholes, good news you'd think? Well, it is apart from a little clause in it which excludes MP's from being covered by the legislation

    It gets debated at the end of April, so now is a good time to write to your MP and express your feelings on Section 554(8) of the Finance (3) Bill, you can email them using http://www.writetothem.com website.
    Last edited by witch; 15th April 2011 at 08:48 PM.

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    aerospacemango's Avatar
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    Friday 8 April 2011

    Dear Therese Coffey,

    Section 554(8) of the Finance (3) Bill

    I would be grateful if you could explain to me this portion of the bill. It has been brought to my attention that the tax loopholes, thatthis piece of legislation is meant to close, will not apply to you, orany other Member of Parliament.

    I would be interested to read your thoughts on this.

    Yours sincerely,
    That's my letter gone in!!

  3. Thanks to aerospacemango from:

    teejay (8th April 2011)

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    teejay's Avatar
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    Thanks, I'm just absolutely dumbfounded by them. I really thought the expenses scandal would've been a wake up call to them to behave properly, but obviously not.
    Maybe Egypt/Libya etc have the right idea....

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    aerospacemango's Avatar
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    Right then.....

    Got home this evening, and found a letter on my doormat.

    A House of Commons envelope, no less!

    Here is what it says...................

    Dear Mr *****

    Thankyou for contacting me concerning Section 554 of the Finance Bill.

    This section is designed to prevent tax avoidance concerning disguised remuneration. This may appear in the form of being paid by tax-free loan with no expectation of repayment or being paid by third parties rather than by an employer.

    In the ase of Members of Parliament, following the expenses scandal, a decision was reached by Parliament that MPs woul have their pay and expenses regulated and processed by an independant body, IPSA. MPs are not employees of IPSA.

    The consequence of tightening regulation on disguised remuneration has led to the inclusion of the section in this bill as there is no intention of MPs avoiding tax by being paid through IPSA. I pay PAYE on my salary and for large expenses, I do get an advance which I use to pay the expense - e.g. rent for my office, home and other expenses over 200 in value. A setion was included in th Finance Bill to ensure that this arrangement would be able to proceed.

    Yours sincerely

    etc etc etc

    -------------------------------------------------------------------------------------------------------

    This is a verbatim copy of the letter.....Make of it what you will.................

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    aerospacemango's Avatar
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    Bump!

    I'm still looking for your views on the above letter!

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    teejay's Avatar
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    Complete twaddle tbh, the bill covers much more than that and excludes them from a much bigger section than just disguised renumeration. Even if it did just cover that, they should be changing the system to fit the law, not fiddling the law to their benefit. Any company caught out by this is going to have increased expenses and inconvenience, why are mp's excluded from this?

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    teejay's Avatar
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    Still waiting for my reply from my MP, off on his jollies somewhere I expect.

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