HMRC to take pity on contractors affected by strike action
In case any umbrella company contractors have forgotten to file their income tax self-assessment form for the year ending April 2011, the deadline is tomorrow, January 31st!
income tax
Treasury admits income tax and NI cannot merge completely
Some limited company contractors have been hoping that the government’s proposal to align income tax and National Insurance would be the final nail in the coffin for IR35.
Should umbrella companies be concerned about income tax/NI merger?
Umbrella company contractors may be interested to learn that a firm of chartered accountants has expressed concerns about the plan to merge income tax and national insurance.
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.
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.
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.
Umbrella company contractors need to check their tax calculations
The Low Income Tax Reform Group is urging taxpayers, including umbrella company contractors, to double check calculations if they receive letters from HMRC.
Contractors could be in line for tax rebates
Millions of taxpayers, including umbrella company contractors, could be in line for a tax refund after HMRC reconciles its books.
New-borns to pay more tax to fund ‘baby boomers’ pensions
Low-income households and the elderly have been badly hit by the recession, according to research conducted by the BBC and the Institute for Fiscal Studies.
HMRC amends wording of new tax avoidance regulations
The government has confirmed that deferred bonuses will not fall under its new tough tax avoidance regulations.
Are umbrella companies affected by HMRC staff cuts?
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.
Finance Bill 2011 tackles disguised remuneration
Employee benefit trusts and employment finance retirement benefits schemes are the latest to be targeted in proposed Treasury regulations.
Should umbrella company contractors put their faith in an ISA?
Although the government spending cuts may not have a direct impact on everybody, it’s worth bearing in mind the underlying message that the coalition is trying to get through.