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IR35 – Are agencies and the public sector prepared?

With only a week before the IR35 changes in the public sector are live, there is still widespread concern in the contracting industry. The final legislation has now been published, which most notably features greater accountability on public sector bodies for determining the IR...

What is the Construction Industry Scheme?

For those working in the construction industry, including builders, electricians, and painter/decorators, CIS is a tax scheme designed by HMRC to minimise tax evasion within the industry.

The construction industry scheme (CIS) is a set of rules th...

Hammond Withdraws NIC Hike

Just one week after it was announced in the Budget on the 8th March, Phillip Hammond has been embarrassingly forced to withdraw the planned increase in Class 4 National Insurance Contributions.To the relief of the self-employed workforce, Hammond was forced to make the announ...

Off-Payroll – The Nitty, Gritty

HMRC has recently published guidance for agents regarding off-payroll working in the public sector, but contractors will find this equally useful.

The guidance confirms that because the fee payer (likely to be the agency) has a liability to ...

Outsourced Services Outside Off-Payroll

Recent guidance published by HMRC, titled ‘Off-payroll working in the public sector:  scope of the reform and prepa...

Dividend tax allowance slashed

The Chancellor of the Exchequer has delivered the final Spring Budget. This is not the first time this has been attempted however. Twenty four years ago, Norman Lamont, made the same announcement only to be sacked ten weeks later!Listening to Philip Hammond, at times one di...

ESS Tool Hasn’t Nailed It

After playing around with the format, HMRC last week launched its much anticipated Employment Status Service (ESS) tool.The tool is primarily designed for those working in the public sector and can be used by contractors, public authorities and agencies alike. By answering ...

Taking the Strain Out of VAT

Under normal circumstances, most VAT registered businesses have to send in quarterly VAT returns which must be done electronically. Payment of VAT should be made electronically either by Direct Debit, Faster Payments by internet/telephone banking, CHAPs, BACs, Direct Credit, On...

PAYE Housekeeping

With the end of the fiscal year swiftly approaching, now is a good time for employers to prepare for their RTI end of year reporting.The last Full Payment Submission (FPS) should be sent on or before your employees’ last payday for 2016/17 tax year. A ‘Yes’ should be ...

Limited Trader Category Needs Rethink

As if the IR35 public sector changes are not enough for contractors to contend with, last year’s Autumn Statement announced a new 16.5% VAT flat rate which will apply to businesses with limited costs, such as labour-only businesses, to be applied from 1st April ...

For the Record

Entitlement to a full state pension is contingent of having paid, or been credited with, sufficient NIC. The number of qualifying years needed for a full state pension depends on the date on which state pension age is reached. To ensure that this record is maintai...

Flushed with Success

In another case of a self-employed person being classified as a “limb” worker, the Court of Appeal recently confirmed that Gary Smith, a self-employed plumber, was entitled to sick pay.Gary Smith carried out plumbing work for Pimlico Plumbers Ltd during the period Augus...

All to Thee I Freely Give

Who wants to give HMRC money before it becomes payable? Not many, I would guess but there may be some who would find it a useful way to budget for their forthcoming tax bills.‘Making Tax Digital [MTD]: Voluntary Pay as You Go’, one of the six consultation docum...