CIOT: Comment on Budget

Andrew Hubbard, Vice-President of the CIOT, says: “The Chartered Institute of Taxation welcomes the Government’s decision not to go ahead with its proposed income shifting legislation. The Institute’s view has always been that the income shifting rules were a sticking plaster solution which did not address the real structural problems inherent in the ways that small businesses are currently taxed.

The Institute welcomes the Government’s commitment to a wider consultation over the way in which small businesses are taxed and looks forward to taking part in the consultation.”