HMRC continue to 'Name and Shame' people/businesses who have deliberately made errors on their Tax returns and/or have deliberately failed to comply with their Tax obligations. In the latest quarterly publication released on 13th May, it is an Umbrella Company that is found at the top of the list with penalties in excess of £18 million. Under the Finance Act 2009 (Section 94) the Government continue’s to publish the details, any penalties imposed for the default and the amount of Tax in which … [Read more...]
Javid and Hands hired to sign off contractor policies
As Cameron begins his new term in power, the governments contractor policies are now in the hands of two former city professionals, Sajid Javid appointed as Business Secretary and Greg Hands the new Chief Secretary to the Treasury, both being educated within state schools and gaining involvement within the New York Banking sector. Assisting the Conservative Party in becoming the ‘Working People’s Party’ both have experienced a dramatic pay cut to enter the political platform, working towards … [Read more...]
The results are in …Conservative wins by majority!
So the results are in...Conservative wins by majority! After a remarkable General Election it is the public that have awarded the Conservative Party, the majority of seats after this year’s General Election, with 331 seats, five more than was required to hold the majority within Parliament. Talking outside 10 Downing Street, Cameron has vowed to be the ‘Working Person’s Party’ pledging a Greater Britain. The win will allow the Conservative's to govern without a coalition and the need for a … [Read more...]
Princess Charlotte Elizabeth Diana
Everyone at ePayMe would like to congratulate the Duke and Duchess of Cambridge on the arrival of Princess Charlotte Elizabeth Diana. … [Read more...]
Parties’ tax avoidance plans don’t add up, says IFS
With the General Election taking place later this week, the Institute of Fiscal Studies (IFS) reports on their concerns surrounding the parties proposals to tackle Tax Avoidance and Evasion once in power, commenting to Contractor UK that in many cases these ideas will ‘unnecessarily increase complexity' and 'inefficiency in the Tax system’. After this criticism from the IFS, Ed Miliband responded to Contractor UK, commenting that the Government would specifically tackle ‘disguised … [Read more...]
April 2015 Tax Changes
As we come to the end of the first month in the new financial Tax year, we have all seen the effects of the new Tax changes. Based on a recent publication on gov.uk, Payroll World have put together a list of these changes, that took place from April 6th 2015. "Acting as a useful checklist, the following tax changes came into effect on Monday 6 April 2015: - Individuals over the age of 55 have flexible access to their defined contribution pension savings - The Income Tax Personal Allowance … [Read more...]
The dangers of engaging with an Elective Deduction Model
It has been reported that the HMR&C are eager to take action against non-compliant means of payroll, after targeting Pay Day by Pay Day tax relief platforms, their focus has also turned to clamping down on Elective Deduction Models (EDM). These non-compliant forms of payroll by-pass the required National Minimum Wage legislations put in place by HMR&C and have been found to be in place within some companies. Elective Deduction Models allow contractors to remain on self-employed … [Read more...]
What the political parties have planned for contractors
We have all seen the recent debates and manifestos presented by the political parties over the last few weeks in preparation for the general election. Of the six main political parties, five have submitted to the contractor body IPSE, a list of actions they would take, should they gain power on May 7th 2015. Contractor UK reports on the main topics effecting contractors in the link below. http://www.contractoruk.com/news/0012007what_political_parties_plan_contractors.html With five of the … [Read more...]
AUCAE launch survey urging contractors to have their voice heard.
AUCAE launch survey urging contractors to have their voice heard. As a proud member of industry body All Umbrella Companies Are Equal, we would urge you to take just a few minutes of your time to read the below and voice your opinion! In the Budget 2013, the government announced new rules to tackle tax avoidance, however what was to come next nobody anticipated… On 16th December 2014, in an effort to crack down on tax avoidance, HMRC published a discussion document on Employment Intermediaries: … [Read more...]
General Election – Manifesto’s 2015
As the political parties begin the preparation for the General Election on the 7th May, the public have been presented with each parties Manifesto, as each candidate makes a public declaration of the policies and aims, they wish to achieve should they gain power. Follow the links below to view each parties Manifesto's Labour Manifesto 2015 - Click Here Conservative Manifesto 2015 - Click Here Liberal Democrats Manifesto 2015 - Click Here … [Read more...]