The Chartered Institute of Taxation has called on the new coalition to prioritise tax reform. They have written to George Osborne, the new chancellor, highlighted the need to simplify the current tax regime.
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.
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.
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.
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.
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.
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 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.
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).
There have been a lot of complaints recently about the proposed hike in NICs and the Tories seem to have taken heed.
Offshore tax evaders could face penalties of up to 200% after a consultation which was launched in the 2009 Pre-Budget Report.
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.
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.
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.
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.
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.
