Controversial income shifting rules delayed for a year

Whilst the Chancellor’s speech was silent on the matter, buried in the press releases a brief announcement admitted that further consultation was necessary and agreed to delay the implementation of any new rules until 2009. Although hidden within the budget, this move will be very welcome by many small business owners and partnerships. The proposed legislation in its current format would have created uncertainty for small businesses and increased their administrative burden.Tip: For companies we offer a remuneration review to identify the most tax efficient combination of options to extract funds from the company and save as much tax as possible.