Countdown to stronger fines make it a good time to find a reputable umbrella company
Contractors might be interested to learn that HMRC is going to impose penalties of up to 200% on individuals found guilty of tax and capital gains evasion.
hmrc
HMRC staff still receive high bonuses despite blunders
Despite various blunders by HMRC last year that affected umbrella company contractors, the department still spent nearly £800,000 more on bonus payments to staff than it paid out the previous year.
HMRC staff still receive high bonuses despite blunders » Read the full story
Arrests made in HMRC’s clampdown on offshore bank accounts
Last December, two British citizens were arrested on suspicion of hiding money in Swiss bank accounts to evade paying UK taxes.
Arrests made in HMRC’s clampdown on offshore bank accounts » Read the full story
Should large companies pay their full tax liability?
The National Audit Office is to investigate the way tax inspectors from HMRC reach settlements with multinational companies after Vodafone’s £1.2 billion settlement caused uproar.
Should large companies pay their full tax liability? » Read the full story
ARC warns government not to reduce HMRC budget further
Union officials have warned that cuts to HMRC’s budget will lead to an increase in tax evasion and widen the gap between the revenue recovered and the amount actually due.
ARC warns government not to reduce HMRC budget further » Read the full story
HMRC crack down on unscrupulous umbrella companies
Amendments to the National Minimum Wage Regulations came into force on the 1st of January this year and umbrella company contractors should be aware of their implications.
HMRC crack down on unscrupulous umbrella companies » Read the full story
Income splitting to be investigated by OTS
The Office of Tax Simplification is to look into the issues surrounding family businesses that split their income in a bid to avoid paying taxes.
Income splitting to be investigated by OTS » Read the full story
Don’t let the cold freeze SMEs out of business says the FSB
The FSB is calling on the coalition and the banks to give small businesses a bit of breathing space so that they can stay afloat over the festive season.
Don’t let the cold freeze SMEs out of business says the FSB » Read the full story
Umbrella company contractors owed money from Albany have longer to wait
Umbrella company contractors have put in claims for around half a million pounds worth of unpaid invoices following the collapse of Albany at the beginning of 2010.
Umbrella company contractors owed money from Albany have longer to wait » Read the full story
HMRC increases revenue from tax evasion cases
A new report from the National Audit Office says that HMRC raised £8.5bn from its investigations into cases of serious tax evasion.
HMRC increases revenue from tax evasion cases » Read the full story
Finance Bill 2011 tackles disguised remuneration
Employee benefit trusts and employment finance retirement benefits schemes are the latest to be targeted in proposed Treasury regulations.
Finance Bill 2011 tackles disguised remuneration » Read the full story
Overseas tax havens may not be as safe as tax evaders hope
Umbrella company contractors and other freelance workers have been warned to be cautious of schemes that claim to be HMRC approved, when really they are referring to the reference number allocated to a scheme.
Overseas tax havens may not be as safe as tax evaders hope » Read the full story
Will real-time PAYE information benefit umbrella company contractors?
HMRC has launched a consultation asking for opinions on the introduction of real-time information into the PAYE taxation system.
Will real-time PAYE information benefit umbrella company contractors? » Read the full story
Are we going to see an HMRC tax amnesty for contractors?
How is the Revenue going to survive the spending cuts? Some advisers have suggested that it might roll out more amnesties in the hope of increasing cost efficiency.
Are we going to see an HMRC tax amnesty for contractors? » Read the full story
HMRC launch PAYE consultation
HMRC have launched a new consultation that could result in major changes on the horizon for PAYE. The PAYE business processes were introduced in 1944 and have not changed in the following 66 years.
HMRC launch PAYE consultation » Read the full story
Contractors must make sure their tax affairs are in order
HMRC is likely to become more vigilant when it comes to scrutinising the tax affairs of umbrella company contractors, freelancers and entrepreneurs.
Contractors must make sure their tax affairs are in order » Read the full story