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Settlements |
The question is, what is a settlement? It seems the Special Commissioners can't
agree so how are the rest of us supposed to know.
The situations where the question is most likely to arise is small family owned business,
principally where one person does most of the work but other family members receive
dividends earned from that work.
What the Revenue will argue is that the settlement arises because one person is doing
all the work but uses the Limited company to divert part of their income to another
person so as to make use of that persons personal allowance and basic rate tax band and
so avoid higher rate tax on part of the income from their own efforts.
In Arctic Systems the two Special Commissioners disagreed and the more senior one used
his casting vote to side with the Revenue. The Court of Appeal changed the decision in favour of the taxpayer
The problem for the rest of us is not knowing if this is a decision or not. How can
it be clear to us what is and is not a settlement if two Special Commissioners can't agree.
The decision is going to the House of Lords.
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| Pensions |
| Pensions are just
saving in a particular tax wrapper. As the debate rages keep in mind that there
are other legitimate savings plans that don't require you to lock up your money
with complete strangers for most of your life. |
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| IR35 |
| Not the fearsome
tax gatherer it was originally thought to be. The Revenue lose most cases
these days and now it's really down to getting your story straight and avoiding
unhelpful contracts. |
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| My Motorbike |
This is my motorbike. I bought it new just after I passed my test. It is a
1999 Honda Fireblade. |
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