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| CURRENT SECTION :: IR35 / IR591 | UK's most visited IT Contractor Site - 250k unique visitors March 2008 |
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In a last minute U turn by the Government, IR35 is to remain on the statute books. Gordon Brown’s 2004 budget will be remembered as yet another attack on small businesses, and also one of the dullest in history. It had been leaked to Contractor UK in January that IR35 was to be abolished and replaced with IR591. Full story here. Mr Brown in his infinite wisdom has decided that we should now be subject to IR35, IR591 and S660. It is difficult to think of a more persecuted and burdened sector of society than the small businessman. Brown seems oblivious to the fact that it is small businesses that create most of the jobs and wealth in this country. At least IR591 is not nearly as bad as most of us feared. (Full details at the foot of this story). So, what are the reasons for the last minute change of heart? Possibly the massive hole in the public finances needed more plugging than at first thought. The recent schemes launched by Accountax and Shout99 to reclaim past IR35 taxes most certainly would have antagonised the Treasury also. This announcement, together with the legislation which will force accountants and advisers to disclose to the Inland Revenue any tax avoidance schemes entered into by their clients really does seem to signal the intent of the Government to squeeze every last penny out of the small businessman. This will fund yet more civil servants pushing yet larger piles of mostly irrelevant paperwork from one desk to another. Related budget stories: IR591 details IR35 and IR591 avoidance schemes to be hit in Budget Mar 17, 2004 Email this article Printer friendly page Previous Page
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