At the height of the millennium bug scare (1999, kids etc.), pretty much anyone who could switch on a computer became an IT contractor and earned a fortune. Gordon Brown decided that declaring these supposedly self-employed persons to be employed could raise a fortune in tax. The new rule, IR35 proved too complex and expensive to implement and actually raised around 1% of what was expected. But here we go again, another chancellor thinks he sees another soft target and, of course, knows better. And will come another cropper, I’d say.
“IHT to be ‘battleground policy’ in general election as receipts continue to grow”
Just when you thought Inheritance Tax was to become yesterday’s news, it’s back as, apparently and potentially, a ‘battleground policy’ as the election looms.
