Freelancers' relief over Family Business Tax reprieve
Freelancers' relief over Family Business Tax reprieve

Family businesses have been given a temporary reprieve from the Chancellor’s planned Family Business Tax (“income shifting”), which he announced in the Budget will be delayed until 2009. The Professional Contractors Group (PCG), which represents the UK’s freelancers, says it is pleased the Chancellor has apparently listened to a growing chorus of criticism from business, accountancy and other professional bodies.

 

PCG’s managing director John Brazier said: “We are glad that Mr Darling has taken notice of not just the experts but the thousands of people who signed the petition on the 10 Downing Street website, the MPs who signed the Early Day Motion against the proposals and others. There has been a clear consensus that the FBT proposals would not have worked. We hope the next phase of consultation will result in a sensible outcome.

PCG has pledged to provide full input into the next phase of consultation, saying “We will hold the Chancellor to what he promised today: a ‘stable business tax regime that is responsive to business needs’,” concluded Mr Brazier. “We are glad that there is now an opportunity to persuade the Government to reconsider fully.”

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