Income Shifting - The Arctic Systems Case

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21/12/2007 - Income Shifting - What happens when the Inland Revenue loses a court case? They simply change the legislation.
This is exactly what is happening after the Arctic Systems case (The Jones v Garnett case), and the goverment are changing the laws on Income Shifting in April 2008
These changes will have a big impact on small businesses, especially husband and wife businesses where the wife supports the husband and aids in the day to day running of the company.
Predictions say, Small Business will have to increase profit margins by a figure of up to 10% just to maintain their current incomes.
More coming soon

Find out how much you will be effected by the new income shifting regulations using the Contractor Calculator Income Shifting Calculator

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