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HMRC hands out £1 million fine to promoter of tax avoidance scheme

HMRC hands out £1 million fine to promoter of tax avoidance scheme

After a legal battle with HM Revenue and Customs (HMRC), a tax avoidance scheme promoter has been handed a fine of over £1 million. Keep reading and find out more about this ground-breaking case, including details of the company that has been punished and how the £1 million fine was …

HMRC hands out £1 million fine to promoter of tax avoidance scheme » Read the full story

FCSA “set the record straight” regarding accusations from stakeholders about holiday pay and Codes of Compliance

FCSA “set the record straight” regarding accusations from stakeholders about holiday pay and Codes of Compliance

Stakeholders have recently scrutinised the FCSA because of recent changes to their Codes of Compliance. In this article, we share an exclusive interview with Chris Bryce, CEO of the FCSA. Chris explains that the FCSA “wish to set the record straight” and has provided excellent insight into what has happened. …

FCSA “set the record straight” regarding accusations from stakeholders about holiday pay and Codes of Compliance » Read the full story

HMRC updates list of named tax avoidance schemes, promoters, enablers and suppliers

HMRC updates list of named tax avoidance schemes, promoters, enablers and suppliers

Since we last reported, HMRC has updated its list of named tax avoidance schemes, promoters, enablers and suppliers. The newest additions are Novus Consultants Limited, Paybox Umbrella Limited, Saxonside Limited and T2 Outsourcing Limited. Keep reading and find out more about these unethical payroll providers and HMRC’s description explaining why …

HMRC updates list of named tax avoidance schemes, promoters, enablers and suppliers » Read the full story

First-Tier Tribunal Rules In Favour Of HMRC Leaving Umbrella Company Exchequer Solution Facing £11 Million Tax Bill

First-Tier Tribunal rules in favour of HMRC leaving umbrella company Exchequer Solutions facing £11 million tax bill

An FCSA accredited umbrella company, Exchequer Solutions, has lost a First-Tier Tribunal against HMRC relating to an £11 million tax bill due to errors processing historical contractor expenses. In this article, we summarise the case between HMRC and Exchequer Solutions and share the FCSA’s official response to the First-Tier Tribunal …

First-Tier Tribunal rules in favour of HMRC leaving umbrella company Exchequer Solutions facing £11 million tax bill » Read the full story

HMRC name and shame three tax avoidance schemes

HMRC name and shame three tax avoidance schemes

In an online corporate report (‘Current list of named tax avoidance schemes, promoters, enablers and suppliers’), HMRC named and shamed three tax avoidance schemes. While three isn’t many, it’s a start. Keep reading for more information, including the warning signs of a tax avoidance scheme and what you should do …

HMRC name and shame three tax avoidance schemes » Read the full story

An exclusive interview with Chris Bryce – the new CEO at the FCSA

An exclusive interview with Chris Bryce – the new CEO at the FCSA

We’re delighted to announce that our team has been lucky enough to have an exclusive interview with Chris Bryce – the new CEO at the Freelancer and Contractor Services Association (FCSA). Please keep reading to discover Chris’s thoughts on his new job, the FCSA, regulating umbrella companies, and advice for …

An exclusive interview with Chris Bryce – the new CEO at the FCSA » Read the full story

How do umbrella companies make money?

How Do Umbrella Companies Make Money?

There is a common misconception that umbrella companies are raking it in. In reality, the only income that umbrella companies generate is the margin they deduct in exchange for the administrative payroll service they provide. Find out more about how umbrella companies make money in this article. What is an …

How Do Umbrella Companies Make Money? » Read the full story

Umbrella company cloning remains a serious threat to the sector in 2022

Sadly, the threat of umbrella company cloning doesn’t appear to have faded away. Instead, it remains a severe danger to the industry. If you work for an umbrella company, you must understand what umbrella company cloning is to protect your own business. But it isn’t just umbrella companies that need …

Umbrella company cloning remains a serious threat to the sector in 2022 » Read the full story

What is the difference between a compliant umbrella company and a tax avoidance scheme?

What is the difference between a compliant umbrella company and a tax avoidance scheme?

There is no hiding from the fact that changes to IR35 (off-payroll) have resulted in more unscrupulous tax avoidance schemes targetting workers who require umbrella payroll (PAYE). It’s disappointing to see. While most umbrellas are UK based and fully compliant with HMRC’s rules and regulations, some are preying on vulnerable …

What is the difference between a compliant umbrella company and a tax avoidance scheme? » Read the full story

How Can You Help The Government Regulate The Umbrella Company Sector?

How Can You Help The Government Regulate The Umbrella Company Sector?

The government has unveiled a new open consultation, and they would like you to help. Whether you work through an umbrella company, possibly as a contractor or freelancer, or you represent a recruitment agency or end-hirer, now is your time to share your thoughts on umbrella companies to help the …

How Can You Help The Government Regulate The Umbrella Company Sector? » Read the full story

Is The Government On The Verge Of Regulating Umbrella Companies?

Is The Government On The Verge Of Regulating Umbrella Companies?

Unusually, the government has opened a consultation to “call for evidence to ensure it has an up-to-date and well-informed view of how the umbrella company market operates”. Is this a sign that the umbrella company is on the verge of being regulated by the government? Keep reading, and we’ll summarise …

Is The Government On The Verge Of Regulating Umbrella Companies? » Read the full story

Helpful information if you are unpaid by an umbrella company

Helpful information if you are unpaid by an umbrella company

Sadly, it appears that a well-known umbrella company has filed for liquidation – leaving hundreds of contractors potentially without pay. This is a terrible scenario, and our deepest sympathies are with all the affected employees. We sincerely hope that all outstanding payments are made and no temporary worker finds themselves …

Helpful information if you are unpaid by an umbrella company » Read the full story

New Government Guidance Sets Out To Help You Identify “If You Are At Risk Of Tax Avoidance”

New Government Guidance Sets Out To Help You Identify “If You Are At Risk Of Tax Avoidance”

Published on Thursday 18th November 2021, the government has released some online guidance to help agency workers and contractors who have used the services of umbrella companies. The guidance involves the user answering a series of questions. Once the final question has been answered, a screen appears with guidance relating …

New Government Guidance Sets Out To Help You Identify “If You Are At Risk Of Tax Avoidance” » Read the full story

HMRC Defends Decision To Only Refer Contractors To FCSA Accredited Umbrella Companies And Claim It’s Because Of A Supplier

HMRC defends decision to only refer contractors to FCSA accredited umbrella companies and claim it’s because of a supplier

In a recent article posted on Contractor UK, HMRC defends itself for exclusively referring contractors to umbrella companies that have an accreditation from the Freelancer and Contractor Services Association (FCSA) and claim it’s because of a supplier. From our perspective – surely this is proof that HMRC values the FCSA? …

HMRC defends decision to only refer contractors to FCSA accredited umbrella companies and claim it’s because of a supplier » Read the full story

HMRC release new guidance to help agencies reduce risk of engaging with non-compliant umbrella companies

HMRC release new guidance to help agencies reduce risk of engaging with non-compliant umbrella companies

The government may not actively endorse umbrella companies, but they have recently released some helpful guidance online for temporary workers, recruitment agencies and businesses that engage with contractors and freelancers. The latest guidance (released in October 2021) is written for recruitment agencies and firms that use temporary workers and is …

HMRC release new guidance to help agencies reduce risk of engaging with non-compliant umbrella companies » Read the full story

The FCSA updates Charter to clear up confusion surrounding offshore operations for its members

The FCSA updates Charter to clear up confusion surrounding offshore operations for its members

The FCSA, the UK’s leading professional body committed to ensuring the supply chain of temporary workers is compliant with UK tax law, has updated its Charter in response to concerns raised by third parties. Rather than approach the FCSA in a calm and collected manner, some stakeholders were quick to …

The FCSA updates Charter to clear up confusion surrounding offshore operations for its members » Read the full story

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