Re: Loan Charge?
"There is no law saying that EBTs were acceptable practice."
And there is also no law saying that doing 70mph on the motorway is acceptable practice. Anything that is not prohibited is permitted, that is the nature of laws everywhere. This income was legally declared, open to HMRC scrutiny, and could have been challenged any time since. The fact they did not do so in even a single case within the time period in which they were obliged to do so implicitly makes it legitimate. So the comparison is in fact absolutely spot on. It really is equivalent of retroactively reducing the speed limit and then sending everyone who exceeded the new speed limit going all the way back 19 years speeding tickets.