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| Conservatives would consider scrapping IR35 |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 31 March 2010 00:00 |
 The IR35 small business tax legislation could be a thing of the past if the Conservative Party wins the next general election.Shadow business minister Mark Prisk announced today that the Conservatives would seek a "simpler, clearer and lasting tax regime" for small businesses by carrying out a "fundamental review" of current taxation methods should they be elected. This could spell the end of the IR35 law, which was introduced in Gordon Brown's 1999 Budget with the intention of stopping company owners avoiding increased National Insurance and income tax payments by distributing profits as dividends. However, the legislation is calculated to have cost businesses more than £70 million in the 11 years since its induction by the British Chambers of Commerce (BCC), leading the Conservatives to consider replacing it should they gain power. Mr Prisk said: "IR35 has proved to be over-complex, uncertain and often unfair." Posted by Mary King 
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