Yup, as vaunted on UKRM recently and now hot in from SJD Accountancy Following on from our pre budget report we are now able to give you an update on the proposed new Inland Revenue tax on small Companies, known as IR591. As yet the Govt are not willing to enter into any consultation process at all on the new measures, which would suggest that we are likely to be stuck with it, in whatever form it eventually takes. It is considered that the most likely scenario is that National Insurance will be levied on dividends that are paid out from small Companies. It is the rate which as yet we do not know. Without any doubt those now considered outside IR35 will be worse off, those inside IR35 could be better off. IR35 as we know it will in all likelihood cease to exist, as will S660. SJD are at the forefront of the representations being made by the PCG against the new measures. We will be appearing at the forthcoming PCG roadshows to advise on IR591, and have also been invited onto the new focus committee. As ever we will keep you updated as to the latest developments, and have already set measures in place to make sure that you will be affected as little as possible by the new proposals. Saudi looks ever more attractive, if only they could get around this silly beer prohibition.
