Expenses - Parasol consult with Treasury

Posted on 21 October 2008

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Consultation over....

The period of consultation that related to Travel and Subsistence expenses for Contractors completed on the 13th October. In that time Parasol had met with HM Treasury more than once and had worked with the Service Providers Association (SPA) to ensure that the "compliance" message was heard.

Working with SPA, Parasol recommended that HMT looked at the matters around how expenses are granted and of course policed. Rest assured we ensured that the feedback we received was fed back to HMT and our position was clear, police the system do not penalise Contractors doing things properly and working for a very compliant business.

We await the formal Pre Budget Report (PBR) with much interest and will continue to brief politicians on these implications. As we have always maintained, a good "Umbrella Company" will survive this threat and Contractors should not be forced into less compliant structures which are a riskier not only for the Contractor, but also provide a lower tax take for the Government.

Category: Business Expenses

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