Friday 28 September 2018

SIXT CAR-HIRE - INTERNET RIP-OFF

FROM WORLD BEATING DESIGNERS
TO INTERNET CHEATS.

28th Sept 2018

Dear M Dupuy

SIXT Car Hire website scam

I cancelled the car-hire within 15 minutes of attempting and failing to use your website, which repeatedly asked for the details of and charged for a non-existent 2^nd driver. The website would not allow any change – so I switched it off. I did not complete any car-hire agreement with you. If you steal several hundred euros from me for spending 15 minutes on your website – I cannot trust you not to add other huge fictitious charges if I actually used a car. This is attempted theft via an Internet Scam. I have cancelled the credit-card payment you took without permission or providing any service. You, or Sixt, is a criminal.

Noel Hodson

22^nd Sept 2018 6.30pm London time. 15 minutes after quitting your website.

Please cancel this reservation and return my payment.

I made mistakes in booking – Thank you.

9867642783

Noel HODSON - Author

*****

EU LAW

According to the European Commission, the Directive 2011/83/EU on consumer rights (the “Directive“) aims at “achieving a real-business-to-consumer (B2C) internal market, striking the right balance between a high level of consumer protection and the competitiveness of businesses“. Is this really so? How are companies going to be impacted, in France and the UK?

A. What the Directive is about

The Directive replaces, as of 13 June 2014, Directive 97/7/EC on the protection of consumers in respect of distant contracts and Directive 85/577/EEC to protect consumer in respect of contracts negotiated away from business premises.

Directive 1999/44/EC on certain aspects of the sale of consumer goods and associated guarantees, as well as Directive 93/13/EEC on unfair terms in consumer contracts, remain in force but are amended by the Directive.

Member-states had to transpose the Directive into national law by 13 December 2013. Member-states must apply the national laws implementing the Directive from 13 June 2014.

As detailed in its press release and guidance document, the European Commission has identified 10 most important changes for consumers, as follows.

1. The Directive will eliminate hidden charges and costs on the internet

Consumers will be protected against “cost traps” on the Internet. This happens when fraudsters try to trick people into paying for ‘free’ services, such as horoscopes or recipes. From now on, consumers must explicitly confirm that they understand that they have to pay a price.

2. Increased price transparency

Traders have to disclose the total cost of the product or service, as well as any extra fees.

3. Banning pre-ticked boxes on websites

When shopping online – for instance buying a plane ticket – you may be offered additional options during the purchase process, such as travel insurance or car rental. These additional services may be offered through so-called ‘pre-ticked’ boxes. Consumers are currently often forced to untick those boxes if they do not want these extra services. With the new Directive, pre-ticked boxes will be banned across the European Union.

4. 14 days to change your mind on a purchase (compared to the 7 days legally prescribed before)

If the trader has not clearly informed the customer about the withdrawal right, the return period will be extended to 1 year.

5. Better refund rights

Traders must refund consumers for the product within 14 days of the withdrawal. This includes the costs of delivery.

6. Introduction to a EU-wide model withdrawal form

Consumers will be provided with a model withdrawal form which they can use if they change their mind and wish to withdraw from a contract concluded at a distance or at the doorstep.

UK Law

You have a 14 day cooling off period when the credit agreement is signed:

· through a broker

· through an intermediary

· At distance e.g. over the phone

Note the 14 days doesn’t begin until you formally receive notification about how to cancel the contract. Additionally, the creditor may make a reasonable charge for services that you enjoyed prior to cancellation. There is more detail here in the wordpress-186172-549002.cloudwaysapps.com guide to cooling off.

What is the purpose of the Consumer Credit Act 2006?

What is the 14 day cooling off period?

If you entered into the contract over the phone, online or on your doorstep, you have14 calendar days to cancel the contract under the Consumer Contracts Regulations. The cooling-off period starts the day after you agree to go ahead with the service.

Noel HODSON - Author

From: service.clientele@sixt.com <service.clientele@sixt.com>
Sent: 26 September 2018 13:38
To: noel@noelhodson.com
Subject: Re: RE: RE: RE: Your reservation 9867642783 on 10/19/2018, Cannes Train Station SNCF

Dear Mr. Hodson,

We regret that you do not understand but we have not done anything. You made a mistake you cancelled the booking while you were informed about the cancellation fee policy.

If you make again a booking with Sixt for the same place and date for a price of 228,80 € or more, we would be able to waive the cancellation fee as an exceptional goodwill.

Best regards

Anthony Dupuy

Service clientèle

Sixt SAS
Euroairport
68300 Saint Louis
Téléphone : +33-3 89 08 6113
Fax : + 33 3 90 22 80 63
Site Internet: www.sixt.fr
Le blog de Sixt: www.sixtblog.fr

Facebook: www.facebook.com/SixtFrance
Twitter: www.twitter.com/SixtFR

Sixt pour iPhone & BlackBerry: www.sixt.fr/mobile

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

Original Mail vom Tue, 25 Sep 2018 18:47:58 +0100 - DE-41760757

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I have cancelled the payment via my credit-card. And I will daily broadcast this scam to the world until you apologise and return any money you have retained.

My blog has had more than 150,000 readers. This attempted theft will be very, very expensive for you in lost business.

I advise you to inform your directors and shareholders of the real costs of trying to cheat customers.

Noel HODSON - Author

Sci-Fi & Socio-Economics

16 Brookside, OXFORD OX3 7PJ, UK

Tel 01865 760994 Cell 07713 681216

Blogs:

POLITICS & ECONOMICS

Books:

AD2516 - After Global Warming

Out of the Depths - Inundated London

Dancing on the Half-Beat 1942-1962

From: service.clientele@sixt.com <service.clientele@sixt.com>
Sent: 25 September 2018 16:25
To: noel@noelhodson.com
Subject: Re: RE: RE: Your reservation 9867642783 on 10/19/2018, Cannes Train Station SNCF

Dear Mr. Hodson,

We regret that you pressed the wrong buttons but we are not responsible of this mistake.

We confirm you that the 171,60 €charge will stand. We are sorry that we are unable to reply more in accordance with your wishes on this occasion.

Best regards

Anthony Dupuy

Service clientèle

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

Original Mail vom Tue, 25 Sep 2018 15:45:58 +0100 - DE-41760757

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

I dispute your right to charge E171.60. I simply pressed the wrong buttons when booking and then cancelled it within 30 minutes.

Your charge is a criminal theft – a scam. Please advise that it has been cancelled.

I have posted this on Trip Advisor and will if necessary contact the Cannes Police to recover the money you have stolen.

1. Re: AutoEurope Sixt car rental scam

25 Sep 2018, 15:35

25th Sept 2018 - Yesterday I made an online car-rental booking for a Sixt car at Cannes railway station. I accidentally ticked for an additional driver and tried to cancel that. The site kept reverting to the 2 driver option and charged for it - continually asking for 2nd driver details. After 15 minutes I cancelled out of the site and booked elsewhere. Today, Sixt sent me a bill for 176 euro for cancellation of a "confirmed" booking. They have taken the entire price 220 euro from my credit card. This is theft and a crooked scam. Never, ever book with Sixt - they are crooks. Trustcard said they would register a "dispute" which sounds like a long costly process - after some discussion they said they would instead trigger the 14 day cooling off period and cancel the payment to Sixt. Watch this space...

Noel Hodson

From: service.clientele@sixt.com <service.clientele@sixt.com>
Sent: 25 September 2018 13:40
To: noel@noelhodson.com
Subject: Re: RE: Your reservation 9867642783 on 10/19/2018, Cannes Train Station SNCF

Dear Mr. Hodson,

We would like to draw your attention on the fact that you validated a prepaid reservation.

To guarantee the most attractive prices, the conditions of these reservations are more restrictive than those of the reservations with payment on arrival. When choosing to cancel the latter, the cancellation fee amounts to a maximal value of 3 days of rental.
However, to ensure flexibility in case of unforeseen circumstances, we offer you the possibly to modify your reservation instead of cancelling it.

Our reservation center is available 24/7 to help you if you have questions or difficulties to adjust your booking.

In your case, we confirm you that further to your confirmation of cancellation of your reservation, a fee of 171,60 euros will be retained. To know more about it, you can check our general terms and conditions on our website.

Nevertheless, we would like to remind you that to adapt us to your needs, we offer two types of reservations. We invite you to compare them before validating the one that suits you best. You have the possibility to make a reservation with payment on arrival, the cancellation and modifications are free of charge in this case.

We trust that the above explanation is helpful. For any further questions, please contact us again.

Best regards

Anthony Dupuy

Service clientèle

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

Original Mail vom Sat, 22 Sep 2018 18:30:18 +0100 - DE-41760757

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

Reservation Confirmation

Please cancel this reservation and return my payment. I made mistakes in booking – Thank you.

9867642783

Noel HODSON - Author

From: SIXT <res-fr@sixt.com>
Sent: 22 September 2018 18:00
To: noel@noelhodson.com
Subject: Your reservation 9867642783 on 10/19/2018, Cannes Train Station SNCF

Hello Mr. Hodson,

Thank you very much for your reservation.

We need to gather some additional information for your reservation on 10/19/2018. You can supply this information now or when picking up your reservation.

► Save time at the counter by entering your details now.

When you pick up the vehicle, please present your driver's license and ID card or passport. You will also need a payment method issued in your name and accepted by Sixt. When paying by credit card, it may be necessary to enter the PIN.

****** 22^nd Sept 2018 6.30pm London time.

Please cancel this reservation and return my payment. I made mistakes in booking – Thank you.

9867642783

Noel HODSON - Author

From: SIXT <res-fr@sixt.com>
Sent: 22 September 2018 18:00
To: noel@noelhodson.com
Subject: Your reservation 9867642783 on 10/19/2018, Cannes Train Station SNCF

Reservation Confirmation

Hello Mr. Hodson,

Thank you very much for your reservation.

We need to gather some additional information for your reservation on 10/19/2018. You can supply this information now or when picking up your reservation.

Tuesday 25 September 2018

LETTER TO AMERICA - BREXIT EXPLAINED & CONSTRUCTIVE AMBIGUITY

"FREE - FREE - AT LAST I'M FREE FROM EUROPE!"

LETTER TO AMERICA - BREXIT EXPLAINED - 25 SEPT 2018 - 6 MONTHS TO GO

Michael Bloomberg: Brexit is ‘stupidest thing any country has ever done’

Except the election of Donald Trump, that is.

LEAVE or REMAIN? That is the question. Acknowledged by all to be the most crucial national decision since World War 2. And way above all Party politics.

Acknowledged by 99.9% of both sides to ruin the UK economy for several decades. LEAVERS say it will then yield untold riches.

Basic dilemma – how to leave the EU club after 60 years but keep all the benefits. 70,000 trade & services items agreements to be re-worked, worldwide.

TORY – politics: Mrs May’s convoluted “Chequers” plan (Chequers being UK Gov’s country house) is derided by all incl. the EU and her husband – but she is stubborn and insists it is “The only way”. Tories have a minority government that relies on 10 Northern (UK) Irish DUP MPs to pass laws. Mrs May bribed the DUP with a £1B handout; so far they vote with her. Northern to Southern (EU) Ireland is the UKs only land-border with the EU – if we quit, Customs checks at the border might re-ignite The Troubles (religious civil war). Southern Ireland secretly hopes the mess will lead to Northern Ireland (voted REMAIN) quitting the UK, making United Ireland – but all good Belfast DUP Protestant families would rather fall on the Catholic bayonets than forgo UK citizenship.

Mr Rees-Mogg MP

Crazed LEAVERS led by 19^th Century top-hatted, Old Etonian, Rees-Mogg MP, a fervent Englishman with a £2 Billion tax-free offshore Fund, won’t suggest any mechanism to Leave – but insist that we must “Respect the Will of The People” expressed in the 2016 Referendum - 52% Leave 48% Remain. They ignore the 1965 Will of the People in favor of the EU. He works with Farage and Bannon and anyone who wants to break up the EU. The Sept 2018 polls now show a reversal – 48% Leave & 52% Remain. If Mrs May holds a General Election she will lose – and the dreaded old Communist Commissar Corbyn will take power. Mr May is an executive running a $1.2 trillion (Yes – trillion) offshore tax-free fund – but otherwise is a good English citizen. The City of London, 60% of our export-earnings, is excluded from all possible deals and from the future Europe. The City will be move to Europe.

LABOUR – politics: Now, this week (25th Sept 18) is the Labour conference. 80% of members want to Remain and have a 2^nd Referendum, but closet-Leaver Corbyn and other Party leaders are desperate to force a General Election, to win 80 more Seats and sweep them into power (they hope). But, only Mrs May has the power to call a General Election, which she would lose; so its “Turkeys voting for Christmas”. However, grisly old Corbyn is possibly the most stubborn MP and barrack-room-lawyer ever (he voted 400 times against his own Party and 12 times with the vile Tory capitalists) so he holds out for the turkeys to commit suicide. He sees the EU as an evil capitalist conspiracy. Part of his Machiavellian plotting caused him to vote with the Tories for ARTICLE 50 (Notice to Quit the EU) which expires on 29^th March 2019 – when we are OUT with or without a new agreement. His colleagues would happily ditch him except that by a fluke of Social Media he became the fashionable hope (the only hope) of the young & disenfranchised and he increased Party Membership by 600,000 making it the largest Party in Europe. His most ardent supporters now wear T-Shirts saying “Love Corbyn – Hate Brexit”.

WE THE PEOPLE – Want the MPs in Westminster to have a vote on LEAVE or REMAIN (polls show 70% of MPs favor REMAIN) but the ruling Cabinet won’t allow it, as they fear the wrath of Rees-Mogg and Co. Failing that The People want another referendum – but the MPs won’t allow that (it circumvents them, again). If the government “crash out” threatening national-bankruptcy – it is likely (but not certain) to cause a General Election.

We The People will be able to vote for Mrs May – determined to Leave – or Comrade Corbyn – determined to Leave. Hobson's Choice. The Lib-Dems Party now say STOP BREXIT, but only have 8 MPs so can barely influence matters.

Scotland voted Remain – Northern Ireland voted Remain – Wales voted Leave – but now see that they will lose most of their jobs so are wavering – London is overwhelmingly for REMAIN. The United Kingdom will be dis-united.

All the UK media, except The Guardian, is owned by offshore tax-free billionaire Barons who lobby hard to Leave and break-up the EU (with Russian and American funding – e.g. Murdoch, Trump and Putin). The BBC is reluctantly coming round to Remain – but at least 200 top BBC journalists and execs, who gave the arch-disrupter and fascist, MEP, Farrage, hundreds of free hours of TV and radio exposure, are also in offshore tax-free-plans. The EU is a possible threat to all our VIP tax-evaders so the famous BBC "balance" has been for LEAVE.

Commerce and Industry back Remain. UK Government yesterday, 24 Sept 2018, officially warned that a NO-DEAL will stop our planes flying to Europe, our lorry-drivers driving in Europe, we car drivers will have to have additional Insurance certificates and two additional driving licences – and our health-care will not be valid in Europe. They have also warned us to stock-pile medicines and long-life food supplies – and have bought hundreds of port-a-loos (WCs) for the convenience of lorry-drivers queuing for days on Motorways, waiting for Customs clearance of exports to the EU (50% of our exports) via sea-ferries.

There is a ten-million dollar prize for solving the dilemmas and conundrums. We have until 29^th March 2019. Apply to PM Mrs May, 10 Downing Street.

My solution is simple – Stop-Brexit, we do not have to quit Europe and commit economic suicide. That most famous, aristocratic, capitalist Briton, Sir Winston Churchill, at the University of Zurich in 1946 said "We must work for a United States of Europe"

I’m designing a Brexit-board-game, ready for the Bob Cratchit Christmas market.

And you thought Trump, Mueller and Kavanaugh were difficult matters to resolve.

*****

PS - Let's be absolutely clear about this: Wednesday 26th Sept is the last day of the Labour Party Conference. The leader, Jeremy Corbyn, will say their completely clarified Brexit policy is to
(a) deny the public any vote on the issues
(b) rule out a 2nd referendum (actually a 3rd referendum) because we must respect democracy and the scared memory of our ancestors who voted IN at the 1965 referendum.
And (c) contrariwise - hold another referendum, renamed The People's Vote, on do we: Leave, Jump over the "Cliff-Edge", make a fudged catastrophic deal with the EU, or REMAIN as we are, as Founder Members of the EU.

Yes - it is complicated, but nobody (except all the Leavers) ever said it would be easy, and it cleaves to centuries of successful Perfidious-Albion, our UK style diplomacy of "Being Economical with The Truth" - now relabeled by Corbyn and Co. as "Constructive Ambiguity". That is a phrase that was not even conceived by The Ministry of Truth, in George Orwells's novel 1984.

Finally - Let me be absolutely clear - I DO Love Big-Brother, whatever my grandchildren may say to the contrary, when they are quizzed by the Neighborhood Commissariat on Politically Approved Behavior.

NIL DESPERANDUM - The Tory Party Conference is next week. Prime Minister Mrs May will as ever Be Absolutely Clear About her Party's policy and the forging ahead of the United or Dis-United Kingdom to Lands Flowing with Milk and Honey - and Free Trade Deals. It does however, entail forty years of hardship, wandering in the desert. But it will be worth it.

COSTS OF BREXIT - SUMMARY 23 MAY 2018

CONCLUSION - Brexit will cost 7 million UK jobs

Saturday 1 September 2018

TRUMP'S $3B BACK-TAX - TO REVIVE THE RUST-BELTS?

TRUMP - MANAFORT - TAX-EVASION

DETROIT - TRUMP'S BACK-TAX WILL RESTORE IT.

Trump boasts "I'm smart; I don't pay tax". He refuses to publish his tax-returns because "I'm being investigated by the IRS". He then claims that he doesn't pay tax due to carried forward (CFWD) tax-losses on collapsed companies. And yet he claims to be a brilliant business-man - a multi-billionaire. At 25 his parents gave him their NY portfolio of rented apartments - at today's values, say, $3 billion - with, say, rents of $200 million per year. That's 50 years at $ 200 M which is $10 billion of taxable income - which needs a huge amount of tax allowance to give NIL tax bills ; is he that bad a businessman? If he is a billionaire - he should have paid $3 to $5 billion in tax. Paying that back-tax would refinance the Rust Belts. Will Trump stump up for his voters?

If he has lost all his money - is he in hock to the Russians? The INTERNET says:

August 2018 - This is why Russia is helping keep DT and the Repuglicans in office. …. In case you haven't connected the dots... Putin controls the largest oil company in Russia. He made a 500 Billion dollar deal with the CEO of Exxon Mobil. Obama put sanctions in place which stopped that deal. Russia then hacked into our government in order to get Trump elected. When the CIA told Congress this in September (James Comey was also in that meeting), Mitch McConnell refused to tell the American people, blackmailing Obama saying he would frame it as playing partisan politics during the election. Comey released the infamous no-information letter. Mitch McConnell's wife was picked for Trump's cabinet. Wonder why our President has been so quick to dismiss the CIA's findings?.........Here are some facts : Decide for yourselves 1) Trump owes Blackstone/ Bayrock group a reported $100 million to $560 million dollars (one of his largest debtors and the primary reason he won't reveal his tax returns)

2) Blackstone is owned wholly by Russian billionaires, who owe their position to Putin and have made billions from their work with the Russian government.

3) Other companies that have borrowed from Blackstone have claimed that owing money to them is like owing to the Russian mob and while you owe them, they own you for many favors.

4) The Russian economy is badly faltering under the weight of its over-dependence on raw materials which as you know have plummeted in the last 2 years leaving the Russian economy scrambling to pay its debts.

5) Russia has an impetus to influence our election to ensure the per barrel oil prices are above $65 ( they are currently hovering around $50)

6) Russia can't affordably get at 80% of its oil reserves and reduce its per barrel cost to compete with America at $45 or Saudi Arabia at $39. With Iranian sanctions being lifted Russia will find another inexpensive competitor increasing production and pushing Russia further down the list of suppliers.

As for Iranian sanctions, the 6 countries lifting them allowing Iran to collect on the billions it is owed for pumping oil but not being paid for it. These billions Iran can only get if the Iranian nuclear deal is signed. Trump spoke of ending the deals which would cause oil sales sanctions to be reimposed, which would make Russian oil more competitive.

7) Rex Tillerson (Trump's ex Secretary of State) was the head of ExxonMobil, which is in possession of patented technology that could help Putin extract 45% more oil at a significant cost savings to Russia, helping Putin put money in the Russian coffers to help reconstitute its military and finally afford to mass produce the new and improved systems that it had invented before the Russian economy had slowed so much.

😎 Putin cannot get access to these new cost saving technologies OR outside oil field development money, due to US sanctions on Russia, because of its involvement in Ukrainian civil war.

9) Look for Trump to end sanctions on Russia and to back out of the Iranian nuclear deal, to help Russia rebuild its economy, strengthen Putin and make Tillerson and Trump even richer, thus allowing Trump to satisfy his creditors at Blackstone.

10) With Trump's fabricated hatred of NATO and the U.N., the Russian military reconstituted, the threat to the Baltic states is real. Russia retaking their access to the Baltic Sea from Lithuania, Latvia and Estonia and threatening the shipping of millions of cubic feet of natural gas to lower Europe from Scandinavia, allowing Russia to make a good case for its oil and gas being piped into eastern Europe.

Sources: Time Magazine, NY Times, The Atlantic, The Guardian UK......phew.....did you make it thru all of that?...

Russia’s state-run media channel Russia 24 wants everyone to know that President Donald Trump belongs to Moscow.

Responding to reports that Trump told world leaders at the G-7 meeting in Canada last week that Ukraine’s Crimean Peninsula is Russian because everyone there speaks Russian, the hosts of the Russian version of 60 Minutes victoriously declared that “Crimea is ours, Trump is ours.”

Reported on June 15 2018

My colleagues and I argue the issue - Is Trump bust or is in deep-trouble for tax-evasion?

*****

Noel

Subject: Re: Delingpole: Trump Derangement Syndrome Is Making Conservatives Lazy

Love the name Greenspun Shapiro! Are they friends of yours!?

I’m not sure they’ll corner him.. all the current kerfuffle is to do with the mid term elections .. yes he is completely off the wall but his unpredictable disruptive plays are maybe .. just maybe ..what the world needs to shake up the whole system.. not just “draining the swamp”.. the game is still on.. he’s playing a cool hand with both N Korea and Iran.. and indeed with China. However, our commentaries are merely that and will change nothing l

Tony

*****

Tony & John

No, not my lawyer friends – just a random US law firm plucked from the Internet. Apart from Russian Collusion, Manafort-type charges might include False-Accounting, Fraudulent Conspiracy, Wire-Fraud, Lying to government agencies (and probably banks), perjury and simple Tax-Evasion. Not all “complex” tax plans work out:

I SAY AVOIDANCE - YOU SAY EVASION

Noel

********

Hello Tony – and friends.

My analysis of Trump’s position is that he is between a rock and a hard place. As an ex-defender of tax-avoiders and back-duty cases, my estimate is that like Manafort ($70M confiscation and 60 years) and Cohen (confiscation and 60 years plea-bargained down to 6 years), Donald, with $200M per annum rents income (at 2018 values) from age 25, who boasts “I’m smart, I don’t pay tax”, and who has or had many offshore companies, has also been tax-evading and transferring capital on a large scale. His alleged carried-forward tax-losses from bankrupt casinos are minor compared to his annual income – even if he can actually off-set them from bankrupt companies, which is unlikely as Trump did not pay the losses – his creditors paid.

If he sacks Mueller (Federal Courts) he risks Obstruction of Justice criminal charges – and the tax and money-laundering cases have now been mirrored in New York Southern District Court (District Attorney) and other State Courts in which Trump has no authority or powers of Presidential Pardon. Given the thoroughness of the prosecutors to date, my guess is that they already have Trump’s NIL tax-returns from 50 years back; and all his banking transactions globally (all recorded on IBM bank computers); recall that in his campaign Trump refused to publish his tax-returns on the grounds that he was under investigation by the IRS. Even if an agent (say, Cohen) signed Trump’s tax-returns-declarations for him, Trump is liable (A director by whatever name called).

His GET OUT OF JAIL FREE card is, I think, a political climb-down. Time for him to utilise The Art of The Deal.

https://www.greenspunlaw.com/library/basics-of-federal-mail-and-wire-fraud-charges-and-penalties.cfm

Noel

*********

John

A primary test, the primary test, for any tax-relief is "did the taxpayer pay this expense" - This is as true in the US as in the UK. Otherwise we could all make up faux tax-claims (e.g. you/Jane could send yourself an invoice and pay yourself and claim 40% tax-relief).

There are dozens of real claims for debt that show Trump did not pay off the casino etc. losses. So he cannot claim the relief. As the companies were distanced from him to limit his liability - he cannot even claim that he has a debt to these old companies, which might be argued to be payment of the accumulated losses. Usually - corporate losses can only be carried forward against profits in the same company, carrying on the same business, with the same ownership - and the same control.

Noel

*****

John - First principles: each company or individual is a legal person for tax and audit purposes. To offset old losses against present or future income of the losses in a different entity, losses have to be paid or traded with/to the profitable "person". This is basic bookkeeping for Directors Loans, Benefits, Salary, or Transfer Pricing. However you try it, if the taxpayer (person) has not actually paid the past losses (e.g. transferred them to a director's loan account) that person (Group, subsidiary, individual) cannot have the tax-losses BFWD. There are rules about the extent of directors-loan accounts that ultimately tax the balances. Some accountants get lost in the logic maze between all the tax and corporate rules (bookkeeping) - such conundrums are decided in tax-Courts. However the basic logic, law and sense is that the claimant must prove they have paid for the losses. If you have bought the office tea, milk and coffee you can claim it. If not, you can't.

My reading of Trump's several bankrupt ventures show that he was "smart" - most losses were paid for by other shareholders - and that Trump or his Group did not subsequently buy the tax-losses. The losses in total were in any case a fraction of his US income from the rents on the NY flats his parents bequeathed him (paid for by grants from US taxpayers) - about $200M per annum. Insufficient to wipe out the tax bills on 50 years x $200M. He has either lost many billions and is indeed bankrupt - or he has indulged in Manafort-type tax-evasion. ENRON tried all such Profit-Shifting tricks using bookkeeping between hundreds of companies with the help of Arthur Andersen and they landed up in prison - as did Al Capone - Noel

Revenue Law: Introduction to UK Tax Law; Income Tax; Capital Gains ...

https://www.amazon.co.uk/Revenue-Law-Introduction-Capital.../dp/1849463271

This, however, remains the only book on tax law which continues to explain the new law found in ITEPA, ITTOIA and ITA in light of its legislative predecessors, ...

Taxation Law - Sweet & Maxwell

https://www.sweetandmaxwell.co.uk › Tax

Taxation Law. REFINE YOUR SEARCH. PRODUCT FORMAT. Book (25) ... Taxation Law. Corporate tax, capital gains tax, inheritance tax and tax avoidance are just a few of the ... View all Taxation Law titles. SEARCH TAXATION LAW.

****

UK - NTLRDs and property business losses.

There are however some terms and conditions to be aware of. Importantly all of these relaxations only apply to losses arising on or after 1 April 2017 (“post-April 2017 losses”). Losses arising before this date (“pre-April 2017 losses”) continue to be subject to the previous rules for relief.

There are a number of conditions which must be met for post-April 2017 trade losses to be set off against total profits, including:

The company must continue to carry on the trade in all subsequent accounting periods up to and including the one in which the losses are offset.

The trade must not have become small or negligible in the loss making period.

The trade must be commercial or carried on for statutory functions (e.g. a marketing board created by statute) in both the loss making period and period of set off.

If these conditions are not met, it may still be possible to set the trade losses off against profits of the same trade under the old loss relief rules, or, where the trade has ceased, claim terminal loss relief.

There are also a number of terms and conditions around group relief for carried forward losses, including:

A company can only surrender carried forward losses as group relief if they cannot be deducted from its own profits in the accounting period.

A company cannot claim carried forward losses as group relief if it has its own carried forward losses which it could set off.

As with any relaxation in tax, the new rules on carried forward losses are accompanied by a host of new and updated anti-avoidance provisions, including:

A new Targeted Anti-Avoidance Rule (TAAR).

New and strengthened rules to prevent loss-buying.

Noel

*******

Noel

In a UK CVA - which is the same as a USA Chapter 11 - the tax losses can be carried forward even though the creditors have effectively paid for some of those losses.

Any comment?

Here is the reference:

https://www.companyrescue.co.uk/fileadmin/uploads/cr/Documents/CVAs-and-corporation-tax-issues.pdf

John

The average accountants or lawyers have hundreds of books running to millions of pages on these issues. No one could possibly comment on your wide question. It has to be looked at case by case. First specify the facts then work out the tax. What you ask is not answerable.

Noel

********

Sent: 27 August 2018 09:58

Noel

Two points.

How then does it work for CVAs in UK as set out in the article I sent you.

Fred Trump built apartment blocks with LOANS. Not grants.

In the gym. That's all for now but do read the CVA tax loss article and comment on that specifically. Please.

John

*****

John

Noel