hmrc Archives | Page 16 of 18 | Umbrella Companies

Contractors contacted by HMRC told not to bury their heads in the sand

By UCHQ Team September 10, 2010

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.

PAYE errors causing umbrella company contractors headaches

By UCHQ Team September 8, 2010

Nearly six million UK taxpayers, including umbrella company contractors, are due for a rude awakening, thanks to an error in the PAYE system.

January’s VAT increase may be the first of many

By UCHQ Team August 28, 2010

Tim Denison from Synovate believes that the VAT increase which will come into effect next January could be the first of a range of changes.

HMRC coding errors led to a 148% increase in overpayments

By UCHQ Team August 23, 2010

The fiasco surrounding HMRC’s attempt to introduce a new system to cope with PAYE codes earlier this year continues with news that PAYE processing errors resulted in a 15.7% increase in underpayments and a 148% increase in overpayments.

HMRC questions offshore account holders

By UCHQ Team August 18, 2010

Last week HMRC sent out letters to some of the taxpayers who had taken up the Offshore Disclosure Facility to ask them for their insights.

Don’t divulge personal information over the phone!

By UCHQ Team August 16, 2010

A fresh warning has been issued about a telephone scam that could be targeting small business owners and umbrella company contractors.

Umbrella company contractors affected by backlog of tax claims?

By UCHQ Team July 26, 2010

We all know that HMRC has been instructed to collect as much overdue tax as possible but it might surprise you to know that it also has a significant amount of overpaid tax claims to work through.

Forget about tax evasion, honesty must be the best policy

By UCHQ Team July 22, 2010

HMRC is set to increase its investigations into tax avoidance and contractors not operating via an umbrella company may wish to get advice from a specialist accountant to ensure that all their tax matters are in order.

Is my umbrella company financially stable?

By UCHQ Team July 10, 2010

1% fewer companies became insolvent in the 2nd quarter compared to the 1st quarter of 2010 according to the latest analysis from PricewaterhouseCoopers. 3,467 businesses became insolvent during the period, a drop of 28% from the same quarter last year.