Did George Osborne deliver a kaleidoscope Budget?
Well that’s the Budget over and done with for another year. During Prime Minister’s Questions directly before the Chancellor’s speech, David Cameron joked that we were in for a kaleidoscope budget.
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Are umbrella company contractors waiting with bated breath for the Budget?
It’s Budget Day tomorrow; the weeks of speculation will be over and UK taxpayers, including umbrella company contractors, will discover what is in store for them over the next 12 months.
HMRC postpones January meeting of IR35 Forum
A lot of contractors were probably waiting with bated breath to hear the latest news from the IR35 Forum. However, they were in for a disappointment when HMRC postponed the meeting scheduled for the 18th of January, saying there was more work to be done.
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.
APSCo to be a member of the IR35 Forum
APSCo, a group that represents many of the recruiters that umbrella company contractors work with, has become the latest organisation invited by the Revenue to join the IR35 Forum.
The PCG will be a member of the new IR35 Forum
Contractors who had hoped to see the demise of IR35 may be interested to learn that the PCG is to be part of the new IR35 Forum.
What’s next for IR35? Scrap heap or reform?
Directors said the OTS should have prioritised the design of a clear business test to distinguish between employees and the self-employed.
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.
The end of the road for IR35?
Member companies of the REC met with the Office of Tax Simplification last week to discuss IR35. The REC was recently appointed to the OTS’ small business consultative committee. The head of public policy at the REC, Gillian Econopouly, said she was delighted that members had the opportunity to discuss IR35 directly with the OTS.
REC joins OTS consultative committee
Umbrella company contractors will be interested to hear that the REC is joining the Office of Tax Simplification. REC officials will now join a number of other legal and tax experts on the small business consultative committee.
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.
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.
Income splitting to be investigated by OTS
The Office of Tax Simplification is to look into the issues surrounding family businesses that split their income in a bid to avoid paying taxes.
Two interim tax experts are heading the OTS
The Office of Tax Simplification was officially established by George Osborne and David Gauke, the Exchequer Secretary, on Tuesday.