Just heard Cameron saying:
"We must stop people turning capital income into capital gains"
Looks like we're in for new IR35 type legislation
link here:
http://news.bbc.co.uk/1/hi/uk_politics/8710071.stm
"We must stop people turning capital income into capital gains"
Looks like we're in for new IR35 type legislation
link here:
http://news.bbc.co.uk/1/hi/uk_politics/8710071.stm
But he said there was a problem with the tax system where CGT was taxed at 18% while there were much higher rates for income tax "which is encouraging tax avoidance" and their plans were for a "modest additional revenue raising exercise" to lift some of the poorest people out of income tax.
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