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Limited company: husband & wife tax

Thursday 23rd December, 2010
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Limited Company
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Limited company services made up of a husband and wife team who split their income in order to save on tax can expect this situation to be tackled by the Office of Tax Simplification review.

The review is currently underway and the OTS says a treatment of draft rules will be carried out regarding the movement of earnings taking the form of distributions or share profits.

According to news portal Contractor UK, tax director John Whiting says the relevant family business tax is now being dealt with after being out on hold for three years.

Despite taking flak from industry commentators as well the UK Treasury, Contractor UK highlights Mr Whiting is merely carrying out his objectives.

The site refers to the pledge that tax which is causing a problem has been identified and 'improvements' are being discussed. ADNFCR-3319-ID-19950510-ADNFCR


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