HMRC stand firm on late payments of VAT
According to new figures published by IT service provider Syscap, the number of Time To Pay VAT requests rejected by HMRC has more than doubled in the first 3 months of 2010.
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Complex new tax rules create concern
If you’ve ever given advice to your friends and family about tax matters, you might be interested in the views of one of the UK’s leading tax experts.
Contractor group sees glass half full over IR35
It had been hoped that a Conservative government would scrap IR35 but it now appears that this may not be the case. A Tory spokesman said last week that this may not be a viable option.
HMRC urged to go easy on late paying SMEs
According to a new report published by Begbies Traynor, nearly 200,000 small businesses in this country are still struggling financially, even though the UK is now officially out of recession.
One in five PAYE coding notices could be wrong
According to data published by the Society of Professional Accountants, as many as 1 in 5 PAYE tax code notices issued by HMRC since the start of the year could be wrong.
New PAYE fines introduced by HMRC
Limited company contractors, recruitment agencies and umbrella companies could be in line for a series of new PAYE penalties, which have been introduced by HMRC from the start of this tax year.
HMRC cuts could affect service they provide to umbrella companies
HMRC is in line for a tough year as they face more cost cuts whilst continuing to find and chase tax evaders. This could have a knock on effect on those who work through umbrella companies.
Wanting the quiet life…
How quickly the months roll around, the first quarter seemed to just disappear with minimal upset for most umbrella companies (there were a couple of exceptions).
National Insurance cuts becomes an election issue
There have been a lot of complaints recently about the proposed hike in NICs and the Tories seem to have taken heed.
Tax penalty danger to freelancers and contractors
Offshore tax evaders could face penalties of up to 200% after a consultation which was launched in the 2009 Pre-Budget Report.
Recruiters and the umbrella company preferred supplier list
There has been a lot of talk in the recruitment media recently about the use of umbrella companies and their role in the freelance chain. Some say that recruiters couldn’t survive without them while others are a little less convinced.
HMRC to clamp down on last gasp dividend payments
Limited company contractors could once more be in the firing line with HMRC. According to accountancy firm Smith & Williamson, HMRC will be closely monitoring the use of dividend payments between now and the end of the tax year.
Give umbrella companies a break!
You’ve got to feel sorry for umbrella companies. Apart from the odd hiccup (Albany), they provide a stonkingly good service to contractors and have done for the best part of ten years.
Business groups unite against National Insurance hike
The government’s proposed hike in NI contributions is causing more controversy and now leading business groups are calling for the charge to be retracted.
Urgent warning issued over National Insurance changes
Businesses no longer have the opportunity to file paper copies of their Employer Annual Returns. HMRC is writing to employers in the UK reminding them that they must complete their PAYE returns online no later than 19th May if they wish to avoid facing a penalty charge of up to £3,000.
3 reasons why umbrella companies benefit contractors
An umbrella company is the ideal solution for contractors who do not wish to set up their own limited company or become self employed. For contractors seeking a way of working which allows them to work on several contracts without administration, then an umbrella company is the answer.