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CIOT: Income shifting podcast
by Susie Hughes at 11:11 19/12/07 (Section 660)
The Chartered Institute of Taxation (CIOT) has produced a 20 minute podcast analysing the detail of and problems associated with the new income shifting proposals.
In the podcast, CIOT's John Whiting talks to Andrew Hubbard, Vice-President of the CIOT, about a number of issues, including the scope of the proposals, the criteria which must be met to be caught by the proposals, possible exceptions, the issues defining a 'market rate' salary, the administration, the self assessment process and the problems of dealing with rules in practical terms.

They conclude that although the Government estimates about 60,000 businesses could be affected, many tens or hundreds of thousands more may have to assess their operating practices.

The podcast can be heard from the the CIOT's website.

Shout99 has followed the events relating to Section 660 and income shifting. You can also read more about the background to this case and the issues at stake in Shout99's Section 660 resource centre.

Shout99 members are invited to submit their practical experiences as part of a response to the Goernment's consultation process (See: Practical examples needed of income shifting difficulties - Shout99, Dec 2007) .

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Susie Hughes Shout99 2007

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