Can’t Pay? HMRC Will Take It Away
“We are here to collect payment or remove goods. Your choice.” said the bailiff.
debt
Limited company contractors get tough on debtors
Private sector suppliers, including limited company contractors, are focusing increasingly on their cashflow and threatening clients with legal action if they do not settle their invoices in a timely manner.
2,000 people complain about threatening letters from HMRC
Since 2009, HMRC has sent out approximately 17 million letters to taxpayers, including umbrella company contractors. Now it has emerged that around 2,000 people have complained about the threatening tone of HMRC’s debt recovery letters.
Umbrella company contractors – is your client going to close this year?
New research from Aviva shows that around 10% of small firms in the UK are worried they might have to close this year if trading conditions do not improve.
Did money entice you into being umbrella company contractor?
What makes the British workforce tick? Is it job satisfaction or pay and benefits?
Can we achieve fiscal sustainability without raising taxes?
The Office for Budget Responsibility says that tougher austerity measures and higher taxes are needed if Britain is to achieve long term fiscal sustainability.
Fall in corporate insolvencies but we’re not out of the woods
Umbrella contractors may be relieved to learn that government data shows there has been a decrease in corporate insolvencies this year.
Large corporations still appear reluctant to settle debts
London and the South East of England top the late payments league, according to the latest study from Bacs.
Do you have enough savings to cope with a drop in income?
Umbrella company contractors may be about to witness the biggest drop in household incomes for 30 years, according to the Institute for Fiscal Studies.
Bankruptcies are falling but will the trend continue?
The latest statistics from the government show that UK bankruptcies have fallen significantly over the last 12 months.
Innocent taxpayers threatened by HMRC debt collectors
Accountants claim that HMRC is adopting threatening behaviour towards innocent tax payers and umbrella company contractors in a bid to gather in more income.
Are umbrella companies at a high risk of insolvency?
The chances of companies collapsing are increasing by the month, according to a new study from RSM Tenon.
UK personal debt is spiralling out of control
UK personal debt has now reached “tipping point” according to a recent report from moneysupermarket.com.
Should umbrella company contractors put their faith in an ISA?
Although the government spending cuts may not have a direct impact on everybody, it’s worth bearing in mind the underlying message that the coalition is trying to get through.
Contractors contacted by HMRC told not to bury their heads in the sand
Due to recently discovered errors, HMRC has sent out its first round of approximately 45,000 letters to taxpayers, potentially including umbrella company contractors, informing them that their taxes were wrong. The total number of letters sent out should top 6 million by the end of this year.
Who will police the police over late payments?
The latest public body to come under fire for late payment of invoices is the police force.