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Income Shifting Gone

Income Shifting Gone

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On page 14 of PN01 it says that the Govt will be deferring further consideration of income shifting preventative measures. Does this mean that they have finally learnt some sense? What about the question of page 4 of Tax Returns about service companies? Is it now totally redundant? Should we all celebrate?
Ian Dalzell

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By Dave Paveley
25th Nov 2008 07:39

Every cloud has a silver lining!

Personally, I cannot see the income shifting legislation in it's current form ever being introduced.

I think the government will come up with a new attack on family businesses rather than trying to patch up the cracks in those proposals.

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By Rebecca Benneyworth
25th Nov 2008 03:20

Answers to your questions
are I suspect, as follows :

No, but it is not politically expedient to go forward with this at present.
Question 4 remains relevant - it is supposed to be about policing managed service companies (and possibly IR35) so is not particulary relevant to income shifting companies (although of course very interesting)
YES! The delay in income shifting is cause enough for celebration!

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