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23Aug91 UK: CHANGES TO TAX REGULATIONS AND 714 SYSTEM COULD CRUSH BUILDING CONTRACTORS.

Contractors could be made bankrupt by a flood of workers being forced to give up their self-employed status and become full-time employees.The warning follows Inland Revenue plans to radically revise the 714 system where self-employed builders are paid gross.Revenue proposals would shift at least half a million workers out of the 714 system by introducing a minimum annual qualifying turnover of £25,000.The move will cost contractors a fortune, warns the Chartered Institute of Management ...

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