Last Monday saw the release of the HMRC’s draft finance bill, detailing the reforms as to how the IR35 legislation must be operated in the public sector from April 2017.There have been strong reactions from industry bodies to the Government’s new ‘Draft provisions for Finance Bill 2017’, nearly 400 pages of new tax legislation setting out the draft provisions for technical consultation, including changes to National Insurance contributions, clampdown on salary sacrifice contracts for new car … [Read more...]
HMRC ‘unwilling to give any steer’ on IR35 changes
The taxman is “unwilling to give any steer” on his approach to April’s IR35 changes to the very parties who will be liable and responsible for those changes, an agency body alleges.This current reticence by HMRC to provide the parties with the “real detail” on how the new rules will work makes it probable that it won’t be released until next year, says APSCo.The agency body reached this conclusion after it held a meeting with the Revenue’s policy officers Neil Chattell and Julie De … [Read more...]
HMRC launches new employment status unit
Recruiters have been urged to review their practices to ensure individuals are not being misclassified as self-employed.The warning comes from employment lawyers after it emerged HM Revenues & Customs is launching a specialist unit to investigate firms suspected of withholding employment protection from workers, by using agency staff or calling them self-employed.The move was confirmed last week in a letter from financial secretary to the Treasury, Jane Ellison, to Labour MP Frank … [Read more...]
Why the future’s not bright for IR35 advice
Caring whether their adviser soon gets stuck between a rock and a hard place isn’t the job of a contractor.But new legislative proposals may mean the upshot of this predicament for advisers is a reluctance for them to assist temporary workers with tax and IR35 advice.This is the realistic prospect of a tabled piece of tax legislation that threatens to drive divisions between adviser (the professional who gives you guidance on IR35, for example) and client (you, the contractor).In the … [Read more...]
Nearly 40 Percent of U.S. Workers Prefer Gig Work
About 4 in 10 U.S. workers would prefer to work outside of the traditional, full-time, salaried 40-hour workweek, according to new research. Thirty-seven percent of 7,000 respondents selected alternatives to full-time employment as their preference, with gig work emerging as a leading choice for many.The finding is from research on the size and scope of the contingent workforce in the United States, conducted by Staffing Industry Analysts (SIA), a staffing advisory firm based in Mountain … [Read more...]
New Tax Avoidance Scheme Uncovered
WARNINGNew tax avoidance scheme uncovered with PSC’sHMRC has warned taxpayers against using a new ER-based scheme to reduce tax payable on earnings to 10%.How it worksThe scheme is described in the latest tax avoidance “spotlight” by HMRC: Capital Gains Tax: Entrepreneurs’ Relief tax avoidance scheme. It has three stages:A taxpayer who owns a personal service company (PSC) in the UK sells that company to an organisation based in Cyprus. This sale is correctly taxed as a … [Read more...]
What Is Outsource Payroll?
Outsource payroll is where companies or agencies choose to save time & money by hiring an external company to process all or some aspects of the payroll function whilst staying compliant and up to date with current legislation.For organisations, ePayMe can offer a wide range of solutions ranging from bureau services to fully managed and compliant payroll processing and submissions to HMRC.For employees who choose to use the services of an outsource provide such as ePayMe, you can be … [Read more...]
Don’t waste time worrying!
UK employees waste 20% of their time worrying about their finances This week, all of us at ePayMe, are celebrating National Payroll Week. We are spending this time to provide useful information to our workers and encourage them to look at payroll in a different way. We are aiming to provide assistance and guidance on ways in which they can save money through their payroll with ePayMe.According to a new report that researched 10,000 UK workers, 70% of the UK workforce admit to wasting a … [Read more...]
Contracting in the Public Sector
Much debate and discussion continues to rage regarding public sector working, particularly regarding those contractors operating their own personal service company (PSC).Only recently was an article published with the headline “Half of all public PSC’s to quit over IR35 change” which will equate to over 13,000 contractors.Rather than quit the sector or operate a PSC, why not engage and understand the options available to you through partnering with an outsourced payroll provider? … [Read more...]
Treasury Minister meets FCSA in discussion on the Government’s PSC reforms
FCSA members have held a roundtable with David Gauke MP, Financial Secretary to the Treasury, as part of the trade association’s mission to build relations and continue discussions with the Treasury regarding tax policy for umbrella companies and PSCs. Hosted by The CBI, the focus of the meeting centred on the proposals announced at the 2016 Budget to change the tax framework for PSCs in public sector engagement. Members heard from the Minister that he is keen to work with stakeholders to … [Read more...]