Tories pledge support for contractors
15 Aug 2007, AccountancyAge.com, AccountancyAge
http://www.accountancyage.com/aa/news/1769753/tories-pledge-support-contractors
Small businesses and contractors have been promised the world by the Conservative Party.
According to website contractoruk.com, the Tories would abolish the controversial tax rule IR35, reverse the tax rate on small companies, (pushed up by 3% in the last Budget) and review anti-avoidance laws for managed service companies.
The Tories are due to announce a new deal for business on Friday and are due to include pledges to cut red tape by £14bn.
Much of the annual saving is expected to come from scrapping huge amounts of legislation which the party sees as unnecessary, outdated or excessive.
A spokesman for contractors group, PCG said: 'We hope that the party will adopt proposals to do this, and abolish IR35 accordingly – once employment status is truly clear, IR35 will be unnecessary.'
Further reading:
PCG: Freelancers don't trust taxman
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Visitor comments
Trying to win us back?
The Tories when last in power were almost restrictive in their practices. The VAT registration level was too low and the reporting requirements were too high, requiring excess accountancy input.
The whole ethos of the Consevratives (free enterprise) was underminded by their restrictions on the individual trying to "go on their own thing".
Typically, individuals don't contribute funds to political parties, companies do. So the idea of people going off and doing thier own thing was in essence wrong.
"New Labour" at first helped, until it took on the mantle of restricting rights.
Sorry to lambast, but that's how I feel as an individual contractor.
Posted by: James Kelly , 17 Aug 2007 | 00:00