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Income Shifting - pressure grows for Treasury re-think

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Following many months of opposition to the Government's controversial "income shifting" proposals, the Treasury is under great pressure to bin the legislation.

However, following the recent u-turn on Capital Gains Tax, some sources suggest that the Government may be reluctant to give away any more tax concessions.

David Gauke, a Conservative Treasury spokesman, told the FT:

"It is a deeply flawed proposal. They are not going to raise the revenues they thought they would. It will be an enormous bureaucratic burden on small businesses."

Jeremy Browne, a Liberal Democrat Treasury spokesman, said the measures "showed a lack of understanding of small businesses".

You can read the entire FT article, "Pressure for anti-avoidance rethink" here.

Published on Mar 5, 2008

Further Reading

Income Shifting - Government plans to revive proposals Over 7,500 sign petition against income shifting proposals Second Income Shifting EDM calls for sensible measures on family business tax Income shifting legislation delayed in Budget 2008 Income Shifting - pressure grows for Treasury re-think Contractor group slams income shifting proposals as "conceptually retarded" Income Shifting - might Chancellor back down on proposals? Income Shifting - what it will mean for IT Contractors

 

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