| Venue: | Institution of Electrical Engineers, Savoy Place, London WC2 (location map) | | Cost: | £85 plus VAT (Total = £99.88) | | To book: | To reserve your place, please use the button at the end of this article. A VAT receipt and your ticket to attend will be issued automatically. | | Enquiries: | Email to jo@shout99.com |
What is Section 660?
This is Section 660a of the Income and Corporation Taxes Act 1988 (‘Section 660’). It is becoming known as the ‘married couple’s business tax’, following a new interpretation by the Inland Revenue of this old anti-avoidance legislation, which was aimed at ‘settlements’.
The thrust of legislation is to tax income shared between spouses as if it were all the income of the higher rate tax payer. The outcome is that many family business could face tax bills of up to £42,000 that they had no previous knowledge of. But its impact can extend beyond married couples as any arrangement that results in income passing to a close friend or relative in circumstances where the main worker may benefit from that income can be challenged under Section 660.
Shout99, the UK’s largest freelancer network, has been compiling information from experts around the country into how best couples can deal with this measure.
Who should attend this conference?
Anyone who could be affected by Section 660. If you answer ‘yes’ to these questions, you would need to consider your position in relation to the measure.
- In the past six years have you run a business through a company or partnership with your spouse, a family member or a friend as shareholders or partners?
- Has the businesses income been generated in the main by one shareholder?
- Has your business paid a ‘low’ salary and a high dividend to the shareholder?
If you are at risk from a Section 660 challenge either now or as a result of the way you have operated in the past six years, this conference will explain how you can reduce your risk and liability now and in the future.
This conference will also be useful for accountants, advisers and other experts who are involved in advising freelancers or small family businesses who operate in this way.
What will the conference cover?
The expert speakers at the conference will provide answers to:
Section 660- what you need to know about it
- What is Section 660 – background and cases?
- Are you at risk?
- How to calculate the level of your risk?
The Inland Revenue’s new approach
- What does the Revenue’s interpretation of Section 660 mean?
- How will they apply the new set of examples from the Revenue’s Tax Bulletin 64?
- Can they apply it retrospectively?
Strategies for dealing with Section 660?
- How can you reduce past risks?
- Should I restructure the company?
- Should I set up a new company?
- How can I minimise my present and future risk?
Questions and Answer
- Panel of experts will answer your questions
Speakers
The speakers will include:
Kevin Miller, FCA - acknowledged as one of the technical authorities on tax matters affecting freelancers; held negotiations with the Revenue which led to changes in the Employment Status Manuals; worked with other leading practitioners and technical bodies on common positions; lectured and written widely; and has authored Freelancers Outside IR35 and chairs its panel of IR35 experts.
Simon Sweetman - has a long background in Inland Revenue enquiry work on both sides of the fence - from small enquiry cases at district level to substantial enquiries by Special Compliance Offices. Prior to his 18 years with the Revenue he worked in IT - after the Revenue, he worked in private accountancy firms. He is a member of the Tax Policy Unit of the Federation of Small Businesses and represented the FSB in the negotiations with the Inland Revenue and other interested parties on the IR35 legislation. He is a member of a variety of advisory and steering groups and has written and lectured widely on tax issues.
Carl Whittaker - is an investigations specialist and PAYE expert having spent 10 years with the Inland Revenue, four of which were lecturing at the Taxes training centre. He also has seven years practice experience of which three were at partner level. Carl works for Qdos, one of the country's most experienced practitioners in freelancer-related tax issues. Qdos is currently representing several freelancers who have been targeted by the Inland Revenue under its interpretation of Section 660 and who face back-dated tax bills of up to £42,000.
Guarantee
If you do not think we have delivered a conference which makes you better prepared to deal with the Section 660, we will refund your fee at the conference.
Bookings
Places will available on a ‘first come, first served’ basis.
To book your place on the Shout99 Section 660 conference on June 18, please choose which time you would like to attend:-
Please use the 'Email a Friend' facility below if you know of anyone who could benefit from attending this conference.
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Susie Hughes © Shout99.com 2003
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