You can now almost Smell the end of IR35 - New announcement!

[rawly]

This is now being reported from BBC News on the annoucement of the new office for Tax Simplification.

http://www.bbc.co.uk/news/uk-politics-10691779

"The "spaghetti bowl" of UK tax law is to be simplified to cut the burden on business and attract foreign investment, George Osborne has said."

It specifically mentions IR35 as being one of the first of two reviews:

"The new body will initially conduct two reviews - streamlining 400 tax reliefs, allowances and exemptions and simplifying the tax system for small businesses, including a simpler alternative to the controversial IR35 code."

Can you just smell it????? LOL

[Mr.Whippy]

"The new body will initially conduct two reviews - streamlining 400 tax reliefs, allowances and exemptions and simplifying the tax system for small businesses, including a simpler, much more expensive alternative to the controversial IR35 code."

Fixed

Still, I expect most of us would welcome some clarity even if that does mean paying a bit more tax than the current system.

[Moscow Mule]

Fixed

Still, I expect most of us would welcome some clarity even if that does mean paying a bit more tax than the current system.

CIS for IT contractors is a mere 6 months away!

[malvolio]

CIS for IT contractors is a mere 6 months away!

Bollocks. Not even in the same ball park.

[Moscow Mule]

Bollocks. Not even in the same ball park.

Care to share how it will work then?

[northernladuk]

This makes me glum

[malvolio]

Care to share how it will work then?

No idea but the CIS scheme came about as a result of both mass self-deception in the building trade and a refusal to deal with HMG as a concerted group. We aren't in that position, nor do any of the CIS parameters apply to us.

[swamp]

Fantastic news. This is the end of IR35! Everything will be fixed by the Conservatives!

They may bin the cycle to work free breakfast scheme while they're at it, but it would be small price to pay.

[northernladuk]

Fantastic news. This is the end of IR35! Everything will be fixed by the Conservatives!

They may bin the cycle to work free breakfast scheme while they're at it, but it would be small price to pay.

Please tell me this is done with <sarcasm> tags that I am missing? You want the end of IR35 and instead a flat scheme that will capture us all, including those outside IR35 and slap us with a bill we have been quite rightfully able to avoid?

[Moscow Mule]

No idea but the CIS scheme came about as a result of both mass self-deception in the building trade and a refusal to deal with HMG as a concerted group. We aren't in that position, nor do any of the CIS parameters apply to us.

Nope, but I can guarantee they will look at CIS as a success story for dealing with contractors (even though it doesn't really apply).

They may or may not base the rules on sub or super set of the CIS rules.