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.
Official figures from HMRC show that people are saving more in tax-free ISAs than ever before.
HMRC is to offer a disclosure facility to taxpayers, including umbrella company contractors, it suspects of fraud.
The Office for Budget Responsibility says that tougher austerity measures and higher taxes are needed if Britain is to achieve long term fiscal sustainability.
HMRC has issued a warning to recruiters, including umbrella companies, against the adoption of a new business model for travel and subsistence.
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.
Umbrella contractors may be relieved to learn that government data shows there has been a decrease in corporate insolvencies this year.
Umbrella company contractors might want to take heed of the news that HMRC has got some new anti-fraud technology that it hopes will save it up to £20 million a year.
If you are entering into a contract with an agency you will no doubt have been faced with the daunting options of choosing your route – either going PAYE directly with the agency, going limited or using an umbrella company.
The Low Income Tax Reform Group is urging taxpayers, including umbrella company contractors, to double check calculations if they receive letters from HMRC.
Umbrella company contractors may be interested to learn that Equifax, the information solutions provider, has revealed that the number of business failures has been increasing since the start of the new financial year.
Millions of taxpayers, including umbrella company contractors, could be in line for a tax refund after HMRC reconciles its books.
The Times newspaper recently asked readers to rank the UK against five key competitors for tax, business friendliness, infrastructure, skills and workforce.
HMRC has issued a reminder to tax credit claimants that they only have until July 31st to renew their claims and it suggests that recipients take action as soon as their renewal pack arrives.
Umbrella company contractors may want to ensure that they are not living beyond their declared means after HMRC announces it is going to get tough on tax evaders.
The latest Reed Job Index shows that UK job opportunities slipped back for the second consecutive month in May.
HMRC should focus on detecting genuine cases of disguised employment rather than jumping to the conclusion that all freelancers are subject to IR35 rules, according to the REC.