Reply to: Income shifting - a glimmer of hope?

[MickeyP]

I suspect it's because it's not going to raise as much money as they thought.

The treasury were said to be most disappointed when they calculated that it would only raise 200million. (I must say that I was surprised to find it was such a piddly figure)

As has been pointed out by many people, administering this new rule is going to be a lot of aggro for everyone, and perhaps the treasury have realised that for only 200 mil, it simply isn't worth it.

So, it's back to the drawing board for HMIT to find a simple way to stop freelancers taking advantage of tax breaks that HMG thinks they are not entitled to.

I have to say that the answer is the fairly obvious one that has been suggested many times before of, no I won't say just in case I make it too easy for them!

tim

Yes. Shussssh Tim.

[tim123]

Are you sure it's not cause I wrote to my MP?

In all seriousness though well done the PCG!

I suspect it's because it's not going to raise as much money as they thought.

The treasury were said to be most disappointed when they calculated that it would only raise 200million. (I must say that I was surprised to find it was such a piddly figure)

As has been pointed out by many people, administering this new rule is going to be a lot of aggro for everyone, and perhaps the treasury have realised that for only 200 mil, it simply isn't worth it.

So, it's back to the drawing board for HMIT to find a simple way to stop freelancers taking advantage of tax breaks that HMG thinks they are not entitled to.

I have to say that the answer is the fairly obvious one that has been suggested many times before of, no I won't say just in case I make it too easy for them!

tim

[Lewis]

I trust that is a err..a manly hug?

Of course! Actually I was trying to indicate my agreement to the PCG having done well. Rushed the smilie selection a bit in my excitement at gaining an extra £6K next year ... woo hoo! This would have been better

[rootsnall]

It gives them another year to potentially do a U-turn and forget about the whole thing.

Doing a U-turn at the moment, off the back of the non-doms flip-flop, the CGT flip-flop, and the Northern Rock debacle would give Cameron too much ammo at the moment.

I like the way they talk about fairness when it involves getting a few grand off plebs at our level. Yet when it comes to their non dom brown envelope mates not paying their whack then fairness talk goes out of the window.

Well done PCG and anybody else who chipped in. I plan on having a slack year so I should now be able to empty my coffers over the next two tax years without too much higher rate tax.

[Fred Bloggs]

Doing a U-turn at the moment, off the back of the non-doms flip-flop, the CGT flip-flop, and the Northern Rock debacle would give Cameron too much ammo at the moment

A shame he's too much of a wet behinmd the ears wimp to use it. Can you imagine what a Norman Tebbit or a Margaret Thatcher would make of it?

[TheFaQQer]

The Finance Bill will be timed for April/May 2009. I wonder if New Liebour are planning to sneak an election out before then? Otherwise I can see a (political) case for it being postponed again.

It gives them another year to potentially do a U-turn and forget about the whole thing.

Doing a U-turn at the moment, off the back of the non-doms flip-flop, the CGT flip-flop, and the Northern Rock debacle would give Cameron too much ammo at the moment.

[moorfield]

The Finance Bill will be timed for April/May 2009. I wonder if New Liebour are planning to sneak an election out before then? Otherwise I can see a (political) case for it being postponed again.

[TheFaQQer]

Are you sure it's not cause I wrote to my MP?

In all seriousness though well done the PCG!

No, it's because I wrote to mine, and she works at the Treasury....

Well done everyone involved, not just the PCG. The pub landlords association (or whatever they are called) also lobbied for this one.

[oracleslave]

I trust that is a err..a manly hug?

[Lewis]

Are you sure it's not cause I wrote to my MP?

In all seriousness though well done the PCG!

[oracleslave]

Let's hear it for the PCG then - this is all down to the guys at Heathrow Boulevard.

And we now have a year to kill it off completely.

Are you sure it's not cause I wrote to my MP?

In all seriousness though well done the PCG!

[malvolio]

Let's hear it for the PCG then - this is all down to the guys at Heathrow Boulevard.

And we now have a year to kill it off completely.

[johhnysalad]

Delayed to 2009 according to http://www.familybusinesstax.com

[moorfield]

Afraid to say I'm feeling very pessimistic on this topic. I think our sphincters are going to be feeling pretty raw on Thursday morning.

[malvolio]

http://www.shout99.com/contractors/s...le.pl?id=50207

It's only a glimmer - the people raising the concerns are the poor b*****rds who'll have to operate it. The guys making the decisions most likely won't take any notice of them.

Still, it would be nice if it got shafted by the home team, wouldn't it!