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.
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UK umbrella company contractors unhappy with personal taxation
The Times newspaper recently asked readers to rank the UK against five key competitors for tax, business friendliness, infrastructure, skills and workforce.
Time is running out for umbrella company contractors to renew tax credits
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.
Is Big Brother watching over your trading activities?
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.
Are contractors finding less opportunities?
The latest Reed Job Index shows that UK job opportunities slipped back for the second consecutive month in May.
David Gauke states his commitment to overhauling IR35
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.
Innocent taxpayers threatened by HMRC debt collectors
Accountants claim that HMRC is adopting threatening behaviour towards innocent tax payers and umbrella company contractors in a bid to gather in more income.
Umbrella companies offered EBT amnesty by HMRC
Umbrella companies that have been using Employee Benefit Trusts have been offered an amnesty by HMRC. This comes just months after the Revenue said it would be closing EBT schemes down.
HMRC presses ahead with real time information scheme
Umbrella company contractors may be interested to learn that HMRC’s Real Time Information system is to go ahead, starting with a pilot scheme next year.
New tax rules could be a nasty shock for some
Although the new tax changes have been widely publicised, it appears that a lot of people, including umbrella company contractors, are still unaware of the effect they will have on their personal finances.
Would HMRC budget cuts affect umbrella companies?
Cutting HMRC’s budget is not rational, according to the president of the Association of Revenue and Customs.
47 tax reliefs should be axed says the OTS
The OTS has now identified 47 out of 1,042 tax reliefs that could be abolished and a further 17 that could be simplified. It’s long awaited report was published last Thursday.
Are we really going to see a simplified tax system?
The Institute for Fiscal Studies has some worrying news for people who are looking forward to a simpler UK tax system.
Countdown to stronger fines make it a good time to find a reputable umbrella company
Contractors might be interested to learn that HMRC is going to impose penalties of up to 200% on individuals found guilty of tax and capital gains evasion.
Should large companies pay their full tax liability?
The National Audit Office is to investigate the way tax inspectors from HMRC reach settlements with multinational companies after Vodafone’s £1.2 billion settlement caused uproar.
Tax relief reforms and tax rate reforms should go together
Tax experts have said that tax relief reforms should be implemented in conjunction with a reform of the actual rates of taxation.