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.
tax
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.
Those nearing retirement want more taxation advice
A new survey by Just Retirement has found that workers who have retired or are nearing retirement would like to receive more guidance on taxation and other issues. This can include those working through umbrella companies.
Bankers swerved supertax
Financial recruiter Goodman Masson’s director Richard Hoar recently stated that the so-called banking “supertax” has not precipitated the mass exodus of financial services staff that industry experts had been fearing.
Umbrella company contractors affected by backlog of tax claims?
We all know that HMRC has been instructed to collect as much overdue tax as possible but it might surprise you to know that it also has a significant amount of overpaid tax claims to work through.
Concerns over affects of tax hikes and spending cuts
George Osborne is due to give his emergency budget on June 22nd and it seems everybody wants to give him advice! Any measure introduced could affect umbrella companies.
Complex UK tax regime provides opportunities for umbrella companies
The Federation of Small Businesses believes that the complex tax laws in the UK are hampering SMEs’ ability to grow.