Family tax ruling will not hurt says BDO Stoy Hayward

Its view comes from a reading of the case, ruled on yesterday by the High Court, which it says is based on “extreme” facts. Instead of viewing the High Court’s ruling as a victory for the Inland Revenue, it is more a matter of the department having sought to apply existing rules in a consistent basis following a decision by tax commissioners last year, the accountant says. That decision held joint income from a company should be taxable at the higher rate of the two spouses, even when the other spouse receives income falling within their basic rate of income tax. Stephen Herring, t...