HMRC dramatically improves IR35 yield
Umbrella company contractors who have been longing to see the back of IR35 might be interested to learn that HMRC’s average yield per case has leapt by 100%.
hmrc
Some contractors could receive a Christmas present from HMRC
Millions of people, including umbrella contractors, could be in line for an early Christmas present from HMRC in the form of a tax rebate. 6 million income tax rebates will be made following the identification of PAYE errors in the years up to 2007/08.
HMRC levies unfair penalties on taxpayers
Umbrella company contractors have the peace of mind of knowing that their income tax is deducted at source. But contractors in the UK who file their own tax returns should be aware that HMRC continues to delay sending out penalty notices despite losing recent tribunal cases.
Progress at last from the IR35 Forum
Contractors, including those working through an umbrella company, may be interested to learn that the IR35 Forum is starting to make real progress.
Umbrella contractors need to get their tax affairs in order
UK limited company contractors may want to seek the advice of an accountant now that the coalition has struck a deal with the Swiss government in a bid to win the battle against offshore tax evasion.
IR35 enquiries don’t seem to be bringing in the cash
Umbrella company contractors may be interested to learn that HMRC only yielded slightly over £200,000 last year from their enquiries into the IR35 status of self-employed workers.
HMRC to add 2,250 anti-avoidance tax inspectors
Umbrella contractors might like to know that Danny Alexander, the chief secretary to the Treasury, has said HMRC is to strengthen the size of its team tackling tax avoidance and evasion by adding more than 2,000 additional tax inspectors this autumn.
Is HMRC about to improve its service to contractors?
Umbrella company contractors and small business owners could be relieved to learn that HMRC intends to improve the level of service it supplies to taxpayers.
Does top rate of tax affect umbrella company contractors?
The Treasury has estimated that the 50p rate of income tax will bring in an extra £12.6 billion over the next five years.
Mortgage Verification Scheme is launched to combat fraud
Umbrella company contractors looking for a mortgage may be interested to hear that HMRC and mortgage lenders have got together and launched the Mortgage Verification Scheme aimed at reducing mortgage fraud.
More people turn to ISAs as their savings account of choice
Official figures from HMRC show that people are saving more in tax-free ISAs than ever before.
How can HMRC accurately measure the ‘tax gap’?
Umbrella contractors might be interested to learn that leading accounting bodies are calling into question the ‘tax gap’.
Poor service standards have been going on for years in HMRC
Umbrella company contractors may be interested to learn that MPs do not accept HMRC’s excuse that problems with implementing NPS were to blame for poor standards of service.
Fraudsters to be offered disclosure facility
HMRC is to offer a disclosure facility to taxpayers, including umbrella company contractors, it suspects of fraud.
Umbrella companies warned on using expense scheme
HMRC has issued a warning to recruiters, including umbrella companies, against the adoption of a new business model for travel and subsistence.
Will you get a demand or a rebate from HMRC this year?
Contractors may want to ask an accountant to check their tax position after HMRC admitted that as many as 16% of people could have paid an incorrect amount of tax in 2010-11.