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LATEST NEWS Web ChangesThis is where we'll announce the most recent additions to our web site. If you've visited us before and want to know what's changed, take a look here first.
S660a The Husband and Wife TaxThe Inland Revenue have tried to attack companies where the director/shareholders are husband and wife, but only one of them truly works for the company, but both receive rewards from the profits, be it by salary or dividend, and thus taking advantage of the others lower tax brackets. The Revenue are saying that taxable income is being diverted in an attempt to avoid tax, and that the diverted income should be added to the income of the person who has actually earned it. This in most cases would be at higher rates of tax and will cost the tax payer dearly. There is currently a case which is now heading to the House of Lords, which will be crucial if this tax law is to be fully imposed. The Continuing IR35 Problem The 'one man' limited company tax is still proceeding, but the Revenue are losing hundreds of cases. Read here for the latest news. Breaking News !Look here for recent news that may effect your business. |
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