THE first Conservative budget seemed tame at first sight. However, there were two measures that will have a massive impact on small businesses in the future.
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It is now 16 years since “IR35” first crept onto the statute book so we thought it time ‘to re-examine this. When it was first introduced it was thought that might herald the end of the “one-man” limited company, but it has proven to be less ferocious than originally feared. However, it is beginning to rear its head again.
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So the polling booths have closed, the votes have been counted, the swing-o-meter has been put away for another five years, and we now have a new government.
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As things go around, so things come around. The previous tax year has finished, but the new one has started with the various fresh opportunities that are presented.
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BY the time you read this the January tax return deadline will have
passed, we will hopefully have submitted all clients’ returns on time,
and I will have had my customary double scotch in celebration!
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