S660 / Income Shifting

Welcome to CUK's guide to S660 and 'income shifting'. Section 660a or S660a has been around for many years but the Government (being short of a bob or two billion) has decided to re-examine this rule and apply it to tax 'husband and wife' companies.

CUK’s contractor guide to s660, income shifting Part 1

Kingston Smith guides contractors through the old and new rules for 'husband and wife' businesses.

CUK’s contractor guide to s660, income shifting Part 2

Tax barrister Anne Redston on how HMRC tots up how much ‘husband and wife’ firms must pay.

CUK’s contractor guide to s660, income shifting - Part 3

Tax expert Andrew Hubbard on changing the rules for ‘husband and wife’ firms.

Contractors' Questions

Contractors' Questions: Is the door open to retrospective taxation?

Experts answer the underlying question of the BN66 ruling.

Contractors' Questions: Can I 'income-split'?

Tax expert helps an IT contractor hoping to split dividends with his spouse.

Contractors' Questions: Do we risk tax under S660?

Tax expert on using your 'Ltd' for the spouse's contract.

Contractors' Questions: Is my share plan caught by S600?

Tax tips for a limited company owner wanting to share the business with his family.

Contractors' Questions: Can I take profit from my husband?

Income shifting: accounting tips for an Arctic Systems-style business.

Contractors' Questions: Am I caught by income-shifting legislation?

Help for a husband-and-wife company trying to mitigate the new dividends tax.

S660 News

Dividend waivers ruled as settlements cost two directors £27,000

Limited company owners who claimed sensible 'tax planning' undone by 'S660.'

13th February, 2014

Decide your company's fate before falling out, couples told

Husband-and-wife firms urged against leaving their business up to the divorce courts.

24th January, 2012

Osborne ‘unlikely to hit husband and wife firms’

Tax experts don’t expect the chancellor is gearing up to raid the likes of Arctic Systems.

9th March, 2011

Tax review chief eyes 'husband and wife' companies

'S660' whispered in Whitehall for the first time since the coalition moved in.

22nd December, 2010

Taxman still chasing 'husband and wife' companies

Judge slams HMRC in its latest attempt to make s660A stick.

18th August, 2010

Budget: Darling shelves family business tax

What IT contractors need to know about the Red Book 2008.

13th March, 2008

Family firms' tax law 'poorly framed'

Legislating after losing to an IT contractor is worrying business experts.

11th December, 2007

New laws prohibit family firms' tax gain

Income shifting: share your business but don't share its profits, says the state, wielding fines.

7th December, 2007

Arctic Systems case 'cost taxpayers over £500,000'

But HMRC says the cost is unknown because it doesn't keep records.

25th October, 2007

New tax laws to hit the likes of Arctic

Government: we'll have the final say on the tax affairs of family-run firms.

29th July, 2007

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