Self-employed umbrellas seem to be the new “in thing” – it’s almost like umbrella companies around the country had a eureka moment all at once and decided to run a “new model” to catch everyone they couldn’t put through the typical PAYE umbrella.
Cutting HMRC’s budget is not rational, according to the president of the Association of Revenue and Customs.
HMRC should not rush its planned computerised PAYE reforms according to leading professional bodies.
It will probably come as no surprise to umbrella company contractors to learn that complaints against HMRC have increased dramatically over the last couple of years.
The Institute of Chartered Accountants of Scotland has claimed that HMRC’s proposals to check SME and umbrella company record keeping are flawed.
The government has confirmed that deferred bonuses will not fall under its new tough tax avoidance regulations.
HMRC has been investigating the employment status of locum doctors and as a result they and the practices they work in may have to pay extra tax.
Umbrella company contractors might be unsurprised to hear that the Commons Treasury select committee has been told that HMRC is nearly at breaking point due to recent staffing cuts.
Late payments increased by 16%, to 25.7 days, in the final quarter of last year, a situation which had an adverse affect on some recruitment companies.
Umbrella company contractors and freelancers beware! HMRC may send debt collectors to your door if you owe taxes.
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.
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.
Last December, two British citizens were arrested on suspicion of hiding money in Swiss bank accounts to evade paying UK taxes.
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.
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.
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.
