New research from MoneySuperMarket reveals the best locations across the UK for freelancers and Manchester tops the list, thanks to a thriving freelance industry and a high number of start-ups. Contributor Kevin Pratt, consumer affairs expert at MoneySuperMarket.Freelancing is popular with those adopting the lifestyle, with 60 percent believing it’s a good career move. With the option of flexible hours, working from home and being your own boss, it’s no surprise that many people are turning … [Read more...]
IR35 reform coming sooner not later, says HMRC
Private sector IR35 reform will happen way before long-term changes to employment status on the back of Matthew Taylor’s already-published review get made, the taxman suggests.In new IR35 Forum minutes, HMRC says the Taylor response consultation – due this year -- will consider the long term case for reform, but it adds “there is a more immediate need”.Namely; “to consider how best to tackle private sector non-compliance with the off-payroll working rules,” which -- the Revenue … [Read more...]
Nurses & agencies using umbrella loan schemes risk tax bills and prosecution
ePayMe have been advising agencies and contractors about the pitfalls of sourcing schemes that offer a higher net take home pay that normal. Please don't fall into the trap of thinking that it's fine, you won't get caught or it's not your problem. It's not just the healthcare sector that are in the spotlight - any sector, contractor or agency need to be aware.ePayMe Founder and Chairman, Andrew Johnston said 'Over the past 3 years, I have seen a myriad of 'solutions' offered and quite … [Read more...]
Has HMRC’s blinkered approach changed the NHS forever?
NHS survey: patient care services in crisis as IR35 reforms take their tollPatient care standards in NHS departments are deteriorating rapidly as a direct result of the public sector IR35 reforms. A survey of 450 healthcare locums by ContractorCalculator and the Independent Health Professionals Association (IHPA) shows the NHS is failing to replace critical contract workers who have been forced out of the sector due to IR35 and questionable compliance procedures.25% of respondents have … [Read more...]
Tunnel vision leaves Chancellor on brink of disastrous IR35 decision, warns IPSE
The Chancellor has less than a month to amend his blinkered view of the public sector IR35 reforms and avoid making a grave mistake by extending them to the private sector in the Autumn Budget.This is according to Chris Bryce, chief executive of the Association of Independent Professionals and the Self Employed (IPSE), who has spoken out after concerning reports that changes to IR35 in the private sector could be imminent.“It’s something that we suspected and feared was coming, and we’re … [Read more...]
Lorry drivers stung over accounting firm ‘tax dodge’
This article is damning to all those agencies and workers using non-compliant providers. Whether it be an umbrella company promising 90% take home pay or and MSC offering the same, it's too good to be true and you are running a huge risk.Compliant providers will apportion the correct PAYE deductions, won't provide ridiculous referral fees to consultants and will act in accordance with HMRC. With Debt Transfer and the new Finance Act, dealing with a compliant payroll provider is … [Read more...]
Tax-Free Childcare
In March 2016, the Government confirmed their plans for a Tax-Free Childcare scheme to be rolled out gradually from early 2017. Tax-free Childcare will provide working parents and now self-employed workers with another option for tax savings on their childcare direct through the Government.You can sign up for Tax Free Childcare now! This is a great step for working parents as this will help all those employed and now those self-employed.Childcare vouchers will remain in place and you … [Read more...]
Are you and your business ready for the Criminal Finances Act 2017?
With so much red tape and other recent changes to IR35 passing your desk, you can be forgiven for taking little notice of this legislation passed by Parliament last April. An introduction date of 30th September means that action may need to be taken to ensure you remain compliant.The Government believes that relevant bodies should be criminally liable where they fail to prevent those who act for, or on their behalf from criminally facilitating tax evasion.Here is a link to the draft … [Read more...]
HMRC winning majority of tax avoidance cases
One of the three cases lost by HMRC concerned InvestecHM Revenue & Customs lost just three of the 26 tax avoidance cases heard in 2016/17, data from the Government department shows.A list of litigation decisions that involved tax avoidance on the HMRC website shows that there was also one mixed decision – concerning brewer Greene King – where the outcome was found partially in favour of HMRC.The three cases it lost concerned Investec, Project Blue, which is a subsidiary of … [Read more...]
What VAT solution is best for your Limited Company?
If you’re considering starting your own Limited Company, there are quite a few things to think about. We can help with all of this. We can provide you with software to look after everything, which is in partnership with FreeAgent, incorporate your company and introduce you to some of our partners to help with items such as insurance protection and online business banking.We find that VAT is often left to just utilising the standard VAT scheme of quarterly submissions calculating VAT … [Read more...]