Inland revenue’s first s660a case date set

IR35 Test

The first hearing of a Section 660A case will be before the Special Commissioners of Income tax on June 14th 2004.

The case concerns Sussex based IT company, Arctic System. Geoff Jones and his wife Diana run the firm and the impending case could have huge implications for thousands of husband and wife businesses in the UK.

The Professional Contractors Group (PCG) - which was formed in May 1999 to lobby against the Government's IR35 proposals – is funding the case. The much-awaited case is the first real test of the Inland Revenue's approach to Section 660.

About Section 660

Section 660 is also called the "married couples business tax." Last year figures showed that there were over 3.5 million 'small business' in the UK. It is suggested that over half of UK people related either by blood or marriage run businesses.

Source:Prosperity4

Editors note (Feb 2012):
The original settlements legislation dates back to the 1930s and was subsequently updated first in 1988, when it became the more familiar Section 660. It was changed again in 2005 when it was updated and rewritten into its current form as Section 624 of the Income Tax (Trading and Other Income) Act (ITTOIA) 2005. See more information on the current settlements legislation.


Alliance Accountants

Published: Wednesday, April 21, 2004

© 2014 All rights reserved. Reproduction in whole or in part without permission is prohibited. Please see our copyright notice. If you want to use any content you have seen on this site then please request our media pack and ask for details of our Content Licencing Service.

Inni Accounts


Readers Comments...


  
Bookmark and Share
  
     
  

Section 660

Related Calculators

IR35 Calculator

  
  

Latest Site Updates

Oil and gas contractors can help meet acute onshore skills shortages in key roles Oil and gas contractors can help meet acute onshore skills shortages in key roles

Oil and gas contractors are well positioned to ease the acute shortages of key onshore skills identified by the latest Oil & Gas UK Economic Report.

Contracts tainted with illegality are unlikely to be enforceable Contracts tainted with illegality are unlikely to be enforceable

Contractors who enter into a contract that is ‘tainted with illegality’ may find that the agreement is unenforceable, explains Roger Sinclair of Egos.

VAT Flat Rate Scheme – choosing the correct percentage VAT Flat Rate Scheme – choosing the correct percentage

Contractors don’t always fit neatly into HMRC’s VAT Flat Rate Scheme Trade Sectors & choose the correct percentage, says Abbott Moore’s James Abbott.

ContractorCalculator: Contracting news in brief – 26/Sept/2014 ContractorCalculator: Contracting news in brief – 26/Sept/2014

News this week covers: abolish BETs; overpaying tax & IR35 risk; devolved UK tax; Labour Party Conference; oil & gas prospects; and new EU VAT rules.


  
  

Twitter

Follow Us On Twitter


  
     

  
  

Contractor solutions

Orange and Gold Accountancy Limited IR35 Test Clever Accounts Accountants Checklist Alliance Accountants Contractors Handbook
  
  

Contractor solutions

Clever Accounts

Complete contractor accounting service. 24/7 online access. £69 pm!

InTouch Accounting

Perfect mix of technology & personal service for only £92 per month.

Contractor Angels

More than just an Umbrella. Retain up to 90% of your earnings.

Contractor Accountant

Free consultation, incorporation and IR35 reviews. Find out more…

Parasol

The UK’s largest employment organisation - 0% risk, 100% compliance

Need an accountant?

Comprehensive service for £59 per month. Call now for a FREE consultation.

NA Parker Cavendish D J Colom Accountants Bedouin Group Contractor Financials NewsNow
  
Caprica Accountants Parker Cavendish Contractor Insurance Life Insurance

  

The UK's leading contractor site. Independently audited traffic (ABC) – 131,456 monthly unique visitors.