Oh God, no I wouldn't want the original SET back. Nor am I suggesting they do anything as crass as to call it a payroll tax. If I had the time I'd go back and have a look at just what happened in 1972? 1973? when VAT came in because somehow it replaced SET and Purchase Tax. I've no idea how that went down and I'll have to look it all up - just in February not now.
No return to the original bias of SET but you could use the Selectivity to slant things. Small employers (not that I'm biased you understand), could be favoured, institutions that say, paid bonuses that the government disapproved of, could be kicked in the balls. Just a revamped Employers' NI.
The Revenue have seriously looked at this as part of their concerns over having a level playing field for small businesses, so that it doesn't matter if you're a limited company, a partnership or a sole trader. Their other horse in that particular race is to charge NI on dividend income, maybe indiscriminately and maybe on shareholdings which represent more than 5% of the ownership of the company. Research continues.
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Re: IR35
Date: 2010-11-09 12:15 am (UTC)No return to the original bias of SET but you could use the Selectivity to slant things. Small employers (not that I'm biased you understand), could be favoured, institutions that say, paid bonuses that the government disapproved of, could be kicked in the balls. Just a revamped Employers' NI.
The Revenue have seriously looked at this as part of their concerns over having a level playing field for small businesses, so that it doesn't matter if you're a limited company, a partnership or a sole trader. Their other horse in that particular race is to charge NI on dividend income, maybe indiscriminately and maybe on shareholdings which represent more than 5% of the ownership of the company. Research continues.