Budget 2012 - How are contractors affected?

[Waldorf]

There was mention of clamping down on "avoidance" (I use speech marks because avoidance is legal and is not evasion)

I think the aim to to target "aggressive tax avoidance" - so this seems to be aimed at the artificial tax schemes, usually based offshore, Isle of Man, Jersey etc, in which you pay very little tax, most of the cost being the scheme provider's fee. I guess the schemes used by stars such as Jimmy Carr, Anne Robinson etc, but also by thousands of other less known people.

[BA to the Stars]

If you mean the Autumn statement made on Wednesday, the cut in corporation tax is only applicable to larger companies. We will still have the 20% rate.

There was mention of clamping down on "avoidance" (I use speech marks because avoidance is legal and is not evasion)

[centurian]

Can't remember - given the 2012 budget was back in March

[DeludedAussie]

Budget 2012 - How are contractors affected?

Is reduction in corp tax applicable? Anything else to highlight?