Why does it matter to contractors? Because HMRC doesn't like 'settlements' - where an asset or income stream is transferred by one family member to another - to avoid tax.
Join Tarpon, and avoid falling under the HMRC microscope
Many small businesses and contractors try to avoid their full tax burden by using a limited company as an intermediary, with the husband and wife - or other close family members – holding shares in the business.
HMRC is enthusiastically enforcing S660A by going after 'husband & wife' companies. If any family member holds more than 5% equity, everyone becomes subject to S660A and IR35.
Avoid coming under the HMRC microscope. Join Tarpon: maximise your net income, minimise your hassle, and stay completely legal.
To speak to one of our tax experts call 0800 434 6402.
