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| CURRENT SECTION :: IR35 / IR591 | UK's most visited IT Contractor Site - 250k unique visitors March 2008 |
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The delightful Mr Brown is set to rock contractors with yet another attack. No doubt due to Revenue losses in court over IR35 and the widespread condemnation of S660, the Chancellor looks set to come up with yet more ways to extract more money from us. In a document today released by the Treasury the following quote sets out his intentions: "At the same time, the Government is concerned that the longstanding differences in tax treatment between earned income and dividend income should not distort business strategies, or enable reductions by tax planning of individuals’ tax liability, and that support should continue to be focused on growth. The Government will therefore bring forward specific proposals for action in Budget 2004, to ensure that the right amount of tax is paid by owner managers of small incorporated businesses on the profits extracted from their company,and so protect the benefits of low tax rates for the majority of small businesses." Where will it all end? Full document here Dec 10, 2003 Email this article Printer friendly page Previous Page
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