Search Magnifying Glass

HMRC Tax Revenues on the Up

HMRC has recently published its Annual Report and Accounts 2016/17 and whilst the department maybe congratulating itself in some of its achievements, some of its claims must be tempered by what the National Audit Office have to say.For the fourth consecutive year, HMRC brou...

Can Your Company Pay Your Mortgage?

Salary sacrifice arrangements, whereby an employee benefit was funded through a reduced salary to give rise to NIC and tax savings, were curtailed from 6th April 2017 following the changes introduced by the new Operational Remuneration Arrangements (OpRA) rules.Many employe...

No Clear View of Employment

In one of those unusual cases where a self-employed individual claims to be an employee, Malcolm Tomlinson failed to persuade the First Tier Tax Tribunal that he was an employed double-glazing salesman.Mr Tomlinson worked as a glazing salesman for more than 35 years selling...

Government Listens Over MTD

Late last week Paymaster General, Mel Stride, issued a written statement confirming that Finance Bill 2017 will be introduced as soon as possible after the parliamentary summer recess, containing provisions that had to be withdrawn before the General Election.One of those w...

A round-up of The Taylor Review of Modern Working Practices

Yesterday, the long-awaited Taylor Review of Modern Working Practices was unveiled. And as expected, there was plenty to get our teeth stuck into when examining the effect it could have on UK freelancers and contractors.The general consensus is that the Taylor Review values...

HMRC Update Off-payroll Guidance

Two of HMRC’s IR35 guidance notes, ‘Off-payroll working through an intermediary’ and ‘Off-payroll working rules for public authorities’ have recently been updated. The former now includes some brief information about IR35 in the public sector and the...

Full Time for EBTs

The Supreme Court last week ruled unanimously that payments made by [formerly] Rangers Football Club Plc to its players via employee benefit trusts (EBTs) were taxable income, bringing to an end a long running saga.Between the period 2001 – 2010, HMRC argued that Rangers ...

Contractors demand a fairer, simpler tax system

Following the hung parliament result from June’s snap election, Theresa May has since formed a government with the DUP.Whilst the new government’s sights are set on Brexit negotiations and continued cuts to public spending, a survey conducted by Contractor Weekly reveals ...

Directors’ Tax Returns Not Compulsory

For too long now HMRC have been telling directors of limited companies that they have a duty to register for Self- Assessment and file tax returns annually. This advice is contained in the Government guidance notice on

P11D Filing Deadline Imminent

Employers have until 6th July 2017 to file their returns of expenses and benefits for 2016/17, i.e. forms P11D. Form P11D(b) which doubles as the employer declaration and statement of total Class 1A NIC due for the year, must also be submitted by that same date.For those wh...

Seconds Out

HMRC has recently updated their guidance to making a disclosure under the Second Incomes Campaign.The campaign is open to individuals in employment who have an additional untaxed source of income, to bring their tax affairs up to date and secure more favourable penalty term...

A Fair Copp

Three members of the Copp family, who ran umbrella payroll company Quality Premier Services (QPS) based in Rickmansworth, previously Central Payroll Specialists (CPS), have been handed a combined prison sentence of 27 ½ years for defrauding HMRC of more than £45 million in VA...

Issues with Free Corporation Tax Filing

From 17th April 2017, HMRC’s free PDF-based Corporation Tax (C.T) return software was replaced with a new online service that can only be used by unrepresented companies, clubs and charities with straightforward tax affairs. Only C.T returns for accounting periods ending on o...