In a widely anticipated follow-up session on the Loan Charge by the Lords Economic Affairs Committee, HMRC failed to convince the Committees members on the legal justification for it’s highly controversial retrospective tax that has resulted in thousands of freelancers being pushed to the brink of bankruptcy. The members also poured scorn on HMRC’s poor record of cracking down on rogue umbrella companies which are, according to the BBC, still promoting schemes.The Committee directed … [Read more...]