A consultation for the much-feared extension of the April IR35 reforms to the private sector was put in place earlier today, when Philip Hammond delivered Autumn Budget 2017.In a move that experts say could hit contracting more than the introduction of IR35 itself, the chancellor said he would consult on the "possible next step" of rolling out the reforms to cover all PSC engagements."How to tackle non-compliance in the private sector, drawing on the experience of the public sector … [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...]
Private Sector IR35 Hints
Suggestion made that public sector contractor changes will come to private sector.There are indications that the treasury is considering extending 'off-payroll' rules to the private sector. Changes to the IR35 regulations were introduced in in April this year when hirers in the public sector became responsible for determining the status of an assignment to supply services through a Personal Services Company (PSC), government sources have implied that the new rules may be extended to the … [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...]
Newly self-employed? Don’t miss the October 5 deadline!
If you became self-employed in the 2016-7 tax year (ie between 6 April 2016 and 5 April 2017), and you haven’t yet registered as such with HMRC, then you need to do so by this coming Thursday - October 5th or face the risk of penalties. By law you are required to register so HMRC know they have to issue you with notice to complete a self-assessment tax return and send you tax statements when required.You may also need to register separately for VAT if your VAT taxable turnover is more than … [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...]
HMRC revises IR35 guidance at public gigs
The taxman has clarified who is potentially in scope of his off-payroll rules, due to “feedback” from those trying to understand them since they were introduced in April.In a small but significant update, HM Revenue & Customs said it had added an explanation into its existing guidance, notably under a section entitled “When… [the] rules don’t apply.”Confusingly, the explanation actually relates to when the rules “may apply.” But a HMRC spokesman hinted it was necessary, calling it … [Read more...]
UK banks to check 70m bank accounts in search for illegal immigrants
Banks and building societies are to carry out immigration checks on 70m current accounts from January in the biggest extension of Theresa May’s plans to create a “hostile environment” for illegal immigrants in Britain, the Guardian has learned.The Home Office expects to identify 6,000 visa over-stayers, failed asylum seekers and foreign national offenders facing deportation in the first year of the checks, which are to be carried out quarterly.The accounts of those identified will be … [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...]