Do contractors turn to their iPad for tax advice?
Small business owners and self-employed individuals are increasingly turning to apps when they want accountancy and tax advice.
Small business owners and self-employed individuals are increasingly turning to apps when they want accountancy and tax advice.
Contractors with young families may be aware that HMRC has overhauled the tax credit scheme.
Some umbrella company contractors have been getting anxious in case HMRC uses the newly proposed GAAR to hound them.
Umbrella company contractors might like top know that the UK’s telephone and internet banking systems have been upgraded to allow same day payments.
Umbrella company contractors will no doubt be interested to learn that an unprecedented verdict was recently passed down in an IR35 case.
Contractors with HSBC bank accounts in Switzerland could be receiving a letter from the taxman in the near future.
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.
What measures would umbrella company contractors like to see laid out in the Chancellor’s Autumn Statement?
Since 2009, HMRC has sent out approximately 17 million letters to taxpayers, including umbrella company contractors. Now it has emerged that around 2,000 people have complained about the threatening tone of HMRC’s debt recovery letters.
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.
The Chancellor of the Exchequer, George Osborne, said recently that the government will be unable to cut taxes this parliament due to the global economic crisis.
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.
Umbrella company contractors and small business owners could be relieved to learn that HMRC intends to improve the level of service it supplies to taxpayers.
The Treasury has estimated that the 50p rate of income tax will bring in an extra £12.6 billion over the next five years.
The OECD has reported that the UK economy grew by a mere 0.7% in the last year, making it the second worst performing economy in the G7 nations. Only Japan’s economy performed worse than ours and it had the earthquake and tsunami to contend with.
Contractors who have not chosen to invoice through a reputable umbrella company may need to know that the long-awaited tax treaty between the UK and Switzerland should be signed at the end of this month.