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Income Shifting Legislation / Section 660
'Income Shifting' occurs when income from a small business is apportioned to family members, reducing the overall joint tax liability.
The Government planned to clamp down on 'income shifting' following HMRC's defeat in the Arctic Systems 'Section 660' case the House of Lords in 2007.
However, new legislation, originally due to commence in April 2008 was postponed in successive Budgets and Pre-Budget Reports, so as of April 2010 there are no current plans to enact legislation.
Income Shifting - Latest
Government should be careful over income shifting plans
A leading tax body has said that in these turbulent economic times, it is more important than ever that the Government tackles "income shifting" in a careful manner.
(Nov 20, 2008 in Income Shifting )
Income Shifting - Government plans to revive proposals
According to a contractor news site, The Treasury is working to revive its proposals on income shifting, which would limit the ability for small businesses to share dividend income among spouses or partners.
(Apr 28, 2008 in Income Shifting )
Over 7,500 sign petition against income shifting proposals
The online petition against income shifting (or the "family business tax") has closed, having collected over 7,500 signatures.
(Apr 25, 2008 in Income Shifting )
Second Income Shifting EDM calls for sensible measures on family business tax
A second Early Day Motion has been tabled calling on the Government to use the income shifting delay as an opportunity to come up with a more fair way to deal with "family business taxation".
(Mar 27, 2008 in Income Shifting )
Income shifting legislation delayed in Budget 2008
Although Alistair Darling didn't even mention income shifting in his Budget speech today, hidden away in a Treasury press release comes the news that the proposed income shifting legislation will be postponed until 2009.
(Mar 12, 2008 in Income Shifting )
Income Shifting - pressure grows for Treasury re-think
Following many months of opposition to the Government's controversial "income shifting" proposals, the Treasury is under great pressure to bin the legislation.
(Mar 5, 2008 in Income Shifting )
Contractor group slams income shifting proposals as "conceptually retarded"
The PCG has condemned the Government's latest anti-enterprise brainwave, the so-called "income shifting" tax, as "conceptually retarded".
(Feb 26, 2008 in Income Shifting )
Income Shifting - might Chancellor back down on proposals?
There is mounting pressure on the Treasury to backtrack on its controversial plans to ramp up tax on family firms in the recently announced income shifting proposals.
(Feb 18, 2008 in Income Shifting )
Income Shifting - what it will mean for IT Contractors
We take a look at how the proposed income shifting legislation would impact IT Contractors.
(Feb 12, 2008 in Income Shifting )
Dedicated site set up to fight "income shifting" proposals
The PCG has set up a site dedicated to the campaign against the Government's proposed "income shifting" measures.
(Feb 11, 2008 in Income Shifting )
IoD calls income shifting legislation technically defective
The IoD says that the Government's proposed income shifting legislation is technically defective and hopeless.
(Jan 23, 2008 in Income Shifting )
Income Shifting - Contractors urged to write to their MPs
The PCG has welcomed an Early Day Motion in the House of Commons, attacking the introduction of so-called "income shifting" tax legislation - a tax on family businesses.
(Jan 21, 2008 in Income Shifting )
Contractors urged to sign Income Shifting petition
Contractors are being urged to protest against the so-called income shifting legislation by signing a petition on the No.10 website.
(Jan 2, 2008 in Income Shifting )
How much will the income splitting legislation cost you?
How much more tax will you pay if you are caught by the new income shifting legislation?
(Dec 12, 2007 in Income Shifting )
Income Shifting Legislation - CIOT has grave concerns
The CIOT says it has grave concerns about the implications of the Government's proposed "income splitting" legislation.
(Dec 6, 2007 in Income Shifting )
Income Shifting - Government releases consultation document
The Government today published a consultation document on 'income shifting' which aims at clamping down on business income received by family members.
(Dec 6, 2007 in Income Shifting )
Income Splitting - Advice for IT Contractors
New legislation that will hit joint-business owners who split their incomes to ease the tax burden will come into force next April.
(Nov 19, 2007 in Income Shifting )
Taxpayers face 500k bill over Arctic Systems case
Taxpayers are facing a 500k bill after HMRC failed in its quest to pursue a family business through the courts over a disputed 7k tax bill - the Arctic Systems case.
(Oct 25, 2007 in Income Shifting )
Government to take action on "income splitting" following Arctic Systems defeat
Hidden away in the Pre-Budget Report 2007 are signs that the Government plans to take action on "income splitting" following HRMC's defeat in the Arctic Systems "husband and wife" tax case.
(Oct 10, 2007 in Income Shifting )
Arctic Systems - What next for family owned businesses?
Following last week's verdict in the Arctic Systems family tax case, the Government announced its intention to introduce new legislation aimed at clamping down on family owned companies. What could this mean for IT Contractors?
(Jul 30, 2007 in Income Shifting )
Arctic Systems win at House of Lords - victory for IT Contractors
The House of Lords have ruled in favour of Arctic Systems in a landmark small business taxation case which could have forced many IT contractors to pay huge tax liabilities.
(Jul 25, 2007 in Income Shifting )
Arctic Systems House of Lords decision date set
The verdict in the House of Lords Arctic Systems case is due to be delivered on Wednesday July 25th.
(Jul 23, 2007 in Income Shifting )
Arctic Systems - Section 660 hearing begins at Lords
A landmark Section 660 family tax hearing began today in the House of Lords. This will be the final stage in the landmark case which will have implications for hundreds of thousands of family businesses.
(Jun 5, 2007 in Income Shifting )
Landmark Section 660 family case goes to the Lords
The Professional Contractors Group has announced that the Arctic Systems ("Section 660") case is scheduled to be heard by the House of Lords in June 2007.
(Nov 21, 2006 in Income Shifting )
Key Section 660 hearing to take place in 2007
The key Arctic Systems Section 660 tax hearing which will help clarify how the Inland Revenue taxes husband and wife businesses will not be heard until 2007, according to the Professional Contractors Group.
(Oct 25, 2006 in Income Shifting )
Section 660 - Overview of the tax legislation
Information on the Section 660 (S660) rules which were aimed at legislating dividend payments for 'husband and wife' businesses in the UK.
(Feb 17, 2006 in Income Shifting )
Section 660 - Guidance note on the settlements legislation
The UK's key tax bodies have issued a guidance note to help with self assessment, in light of the the recent Arctic Systems Section 660 appeal decision (otherwise known as the "married couples business tax")
(Jan 19, 2006 in Income Shifting )
Section 660 - Revenue threatens Arctic Systems decision
The Inland Revenue have announced its decision to appeal against the Section 660 Arctic Systems ruling by attempting to appeal to the House of Lords.
(Jan 17, 2006 in Income Shifting )
Section 660 - Arctic Systems Win Appeal
Geoff Jones of Arctic Systems has won his landmark Section 660 appeal case - in a victory for the UK's family-run small businesses.
(Dec 16, 2005 in Income Shifting )
