Individuals who are returning to the National Health Service (NHS) to help to respond to the outbreak of COVID-19 have been targeted by immoral promoters of tax avoidance schemes. HMRC is advising affected individuals to be wary of signing up to these schemes.The schemes on offer all have common features, but they may be described in different ways. One consistent element will be that the scheme attempts to disguise the true level of earnings, which should be subject to Income Tax and … [Read more...]
Tax helpline to support businesses affected by coronavirus (COVID-19)
HMRC has a set up a phone helpline to support businesses and self-employed people concerned about not being able to pay their tax due to coronavirus (COVID-19).The helpline allows any business or self-employed individual who is concerned about paying their tax due to coronavirus to get practical help and advice. Up to 2,000 experienced call handlers are available to support businesses and individuals when needed.For those who are unable to pay due to coronavirus, HMRC will discuss your … [Read more...]
Why recruitment agencies are outsourcing their payroll?
It has never been a better time to be a freelance contract worker within the UK, growing numbers of agencies are becoming more and more reactive to the countries growing demand for a more flexible workforce.We have seen over a 40% growth in our business each year for the past 2 years, which is a clear sign of a change in which hirers are addressing their recruitment needs. With growth, comes further burdens to continue to grow unless processes are in place to support these … [Read more...]
Tax avoidance schemes aimed at contractors and agency workers
HMRC is aware of schemes that claim to increase your take-home pay by paying less Income Tax and National Insurance contributions. These schemes do not work and by using them you may be taking part in tax avoidance. How these schemes work Most umbrella arrangements operate within the tax rules, and correctly deduct tax and National Insurance contributions from all your earnings using PAYE.Some promoters of tax avoidance schemes set up umbrella companies and use them to convert income into … [Read more...]
Why recruitment agencies are outsourcing their payroll
It has never been a better time to be a freelance contract worker within the UK, growing numbers of agencies are becoming more and more reactive to the countries growing demand for a more flexible workforce. We have seen over a 40% growth in our business each year for the past 2 years, which is a clear sign of a change in which hirers are addressing their recruitment needs. With growth, comes further burdens to continue to grow unless processes are in place to support these … [Read more...]
Off- Payroll Reforms 2020
Major reforms to off-payroll (IR35) rules within the Private Sector are scheduled to take effect from April 2020.This will mean that the responsibility will be switched from many contractors to the end client. Their IR35 status of being inside or outside will have significant affects.The rules are not exactly straight forward but it is important to understand what they will mean to your agency as well as your end clients and contractors, so that you can make an informed decision about … [Read more...]
EU Settlement Scheme – One Million People Granted Status
This week the millionth person was granted status under the EU Settlement Scheme – just five months after the Scheme fully opened.The Home Office is committed to making the process of applying to the EU Settlement Scheme as simple and straightforward as possible and looks for reasons to grant status, not refuse it.This milestone has been announced alongside the latest application statistics for July, published today (15 August). This demonstrates the progress of the Scheme to date and we … [Read more...]
Announcement – IR35 Extends into Private Sector
HMRC have confirmed IR35 will extend into the private sector from April 2020. The Draft Finance Bill was released today.Please click here to view the document.If you have any questions about how this may affect your business or your Contractors, please contact one of our team about our products and services on 01252 863700, info@epayme.co.uk or click Contact Us. … [Read more...]
The EU Settlement Scheme
The EU Settlement Scheme is now officially open. After a successful launch on Saturday, more than 50,000 applications were made over the weekend. This brings the total number of applications to over 280,000.Applying to the EU Settlement Scheme is completely free, and the Home Office’s aim is to make it as simple and straightforward as possible. All you need to do is complete a three-step application with a laptop, tablet or mobile device to prove your identity, confirm you live in the UK and … [Read more...]
IR35 in the Private Sector
Act Now!With all that has happened in the Public Sector since April 2017, it was inevitable that the Private Sector was going to follow suit. The only saving grace for some agencies and workers was the fact it has been pushed out to April 2020. Even with this extra time available, it would seem that many are still doing nothing about the changes and leaving their heads in the sand.What we do know is that the Private Sector will mirror the Public Sector once a further Consultation has … [Read more...]