Originally posted by DimPrawn
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IR35 raises £1.5m per year
After years of claiming there was no data available, the Government has revealed IR35 raises just £1.5 million a year - a tiny sum in tax terms and a considerable shortfall from the £220 million the Government expected it to generate in NI contributions alone.
The information, obtained under the Freedom of Information Act, showed that between tax years 2002/03 and 2007/08, IR35 directly raised just £9.2 million.
All the worry, heartache, messing about, contract reviews, insurances, legal costs, misery, lost business, to raise £1.5m a year.
To give it some perspective:
MPs have voted themselves an extra £16million in expenses this year, despite mounting public anger over their money-grabbing claims.
The increase, worth an average £25,000 to each MP, takes the total expenses bill to £109m, up from last year’s £93m.
Lord Mandelson was blasted last night for splashing out more than £2,000 a month on FLOWERS to brighten up his Whitehall office.
The Business Secretary's big spending during the recession was in sharp contrast to Chancellor Alistair Darling - who has cancelled his order for blooms.
Peter Mandelson's Department for Business has blown £24,155 of taxpayers' money on bouquets over the past 11 months from East London florists Plantforce.
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