So what's this all about?
Under EUROPEAN law there are four FUNDAMENTAL RIGHTS. One of those rights is the "freedom of movement of capital". EU law stands over UK law, which means that if the UK, for example, passes a law which interferes with a fundamental right, it must change that law to comply with EU law.
WE WILL ARGUE THAT THE LOAN CHARGE BREACHES EU LAW, as a result IT MUST BE STOPPED!
A Judical Review has taken place in Scotland with this argument. The judgment was that the argument should first be tried in a lower court; the FTT.
We will be launching a case at FTT when people begin to receive what are known as closure notices. Closure Notices are issued when you have stated you had a tax assessment made, stated your intention to appeal and have been through an HMRC Internal Review process. This whole process can take many years.