The Conservative Party made the landmark announcement today that IR35 will be reviewed as part of an overall review of small business taxation should they win the General Election in May.
In a letter today to Chris Bryce, PCG Chairman, the Shadow Business Minister, Mark Prisk MP said that due to PCG’s strong representations to him and to Shadow Treasury Ministers that “a Conservative Government would undertake a fundamental review of small business taxation matters, including IR35.” The Conservative’s would set IR35 as a priority for a newly established Office of Tax Simplification. This body will be made up of tax experts with whom PCG would work closely.
Prisk went on: “...we recognise and value the contribution of freelancers and we are well aware of the way in which the current Government has treated them. We want to deal with this problem comprehensively, in a way which provides us all with a lasting solution, not a short term fix.”
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