Tories promise to review IR35

The Conservatives have promised to review IR35 as part of an overall review of small business taxation, should they be returned to power at the General Election.

Shadow Business Minister, Mark Prisk MP, made the announcement on the Conservatives' web site earlier this week:

"For the last 13 years, Labour have constantly meddled with the tax rules for freelancers and self-employed. IR35 has especially proved to over-complex, uncertain and often unfair".

The Tories plan to create a new 'Office of Tax Simplification' should they win the election. A body of tax experts would be tasked with simplifying a tax system which has become hard to understand, and unfair (in the case of IR35) over the past 13 years.