In March 2010 while in opposition with the Conservatives, Mr Prisk wrote to the Professional Contractors Group (PCG) to set out the party’s stance on the issues of IR35 and small business taxation. In the letter he said that “I am pleased to confirm that, if elected, a Conservative Government would undertake a fundamental review of small business taxation matters, including IR35. We would do this by mandating the independent Office of Tax Simplification to conduct this review, working closely with tax experts and those affected. In this way we believe we would be able to replace a complex, uncertain and unfair tax regime with one which is clearer, stable and which would give people the confidence to start up and build their business.”
A small business taxation review is currently being undertaken with details expected to be released in the emergency budget scheduled for June 22nd 2010.
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