CIOT: Income shifting podcast

The Chartered Institute of Taxation (CIOT) has produced a 20 minute podcast analysing the detail of and problems associated with the new income shifting proposals.

In the podcast, CIOT's John Whiting talks to Andrew Hubbard, Vice-President of the CIOT, about a number of issues, including the scope of the proposals, the criteria which must be met to be caught by the proposals, possible exceptions, the issues defining a 'market rate' salary, the administration, the self assessment process and the problems of dealing with rules in practical terms.

They conclude that although the Government estimates about 60,000 businesses could be affected, many tens or hundreds of thousands more may have to assess their operating practices.

The podcast can be heard from the CIOT's website.