income shifting - on ice

[moorfield]

There are so many threads flying around on the PBR this may have been done already. Apologies if so, but look what they snuck out into the press last night.

http://www.telegraph.co.uk/finance/f...-reprieve.html

Big Up for the PCG.

[Alan @ BroomeAffinity]

i'll second that

[TheFaQQer]

I thought this thread was about another reality TV show.

How disappointing.

[Hex]

I thought this thread was about another reality TV show.

How disappointing.

[Hiram King Of Tyre]

Am I right in believing that you can only use income shifting if married?

[Alan @ BroomeAffinity]

Am I right in believing that you can only use income shifting if married?

If you mean use the current legislation to share income from your business with others , then no you do not need to be married. Common-law partners; same-sex couples; married couples etc can all take advantage of the ability to share income.

[Moscow Mule]

Am I right in believing that you can only use income shifting if married?

You can shift it to me if you like.

[Tank]

Am I right in believing that you can only use income shifting if married?

If you mean can non married couples who both have shares in a limited company that declares dividends not both receive income from that distribution then you are wrong. Any shareholders of a limited company can normally receive income from dividends declared.

Income Shifting is a nonsense phrase that has no meaning in law (a bit like Personal Service Company).

[Hiram King Of Tyre]

My accountant ells me that I can't take advantage because I'm not married

[Alan @ BroomeAffinity]

My accountant ells me that I can't take advantage because I'm not married

On what basis? The only reason that I can think of may be CGT on the transaction of transfering the shares and that's only a minor complication which can be easily got round.

Might your accountant not fancy the hassle?