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Working through an umbrella company – a contractor’s guide

What contractors need to know about working through an umbrella company IR35 reform is only a matter of weeks away, coming into effect on April 6th 2021. It will mean that many contractors who currently work through their own limited…

HMRC in meltdown as self-assessment deadline looms

HMRC's customer service is on the verge of collapse due to delays dealing with online tax returns Customer service at HMRC is at risk of being completely overwhelmed just a fortnight before the 31st January tax deadline - a time…

Millions of self-employed warned over tax rebate scam 

Self-employed people filing their tax returns have been warned about a tax rebate scam A scam warning has been issued after reports of a text message purporting to be from HMRC promising recipients a tax rebate. The self-assessment tax return…

Surge in contractors closing companies as IR35 reforms loom

IR35 reforms, potential tax rises and economic problems see rise in contractors closing their businesses Looming IR35 reforms in the private sector, along with the economic climate created by the Coronavirus pandemic triggered an increase in the number of UK…

What does 2021 hold for umbrella workers?

After a challenging year for umbrella workers, what might 2021 hold for individuals using these services? As has been the case for most sectors, the Coronavirus pandemic had a huge impact on umbrella workers, with the industry facing a number…

HMRC reject calls to extend self-assessment deadline

Easing the looming self-assessment tax return deadline would “complicate” things, say HMRC Accounting industry groups wrote a joint letter to HMRC urging the tax office to relax the deadline for people to file their upcoming self-assessment returns, arguing that the…

HMRC’s IR35 tool delivers 188,000 inconclusive results

Government's IR35 tool can't return a result nearly 20 per cent of the time Figures published by the tax watchdog have revealed that its own IR35 tool – Check Employment Status for Tax (CEST) – was unable to deliver a…

IR35: a substitute is for life, not just for Christmas

The right of substitution should be a permanent fixture in every contractor's business model If we're sure about one thing in 2020, it's that things will never go back to how they were before the Coronavirus pandemic. Even if by…

1.3m self-employed risk ‘perform storm’ of bills by delaying tax returns

Over a million self-employed people expected to delay their tax returns urged to file early to avoid 'perfect storm' of bills by experts The Coronavirus pandemic has placed a huge financial burden on the 4.5 million freelancers, contractors and self-employed…

Capital Gains Tax reform would stifle contractors and damage economy

Hiking Capital Gains Tax is “incredibly unjust”, will “impede entrepreneurship” and damage the economy, say experts The Coronavirus pandemic has hit millions of freelancers, contractors and small businesses hard, with many falling through the cracks of the government support. And with…

IR35 reform seen as bigger threat to contractors than COVID-19 and Brexit combined

Contractors say April's IR35 reform is a bigger threat to their business than COVID-19 and Brexit uncertainty together Research by IR35 specialist, Qdos, found that despite the ongoing Coronavirus pandemic, nearly two-thirds (62%) of contractors have said IR35 reform in…

Tips on how to create a legitimate Statement of Work

A Statement of Work (SoW) may be contractors' answer to IR35 reform - here's what it should (and shouldn't) include With IR35 reform looming, operating under a Statement of Work (SoW) - which is a contract outlining deliverables that must…

Ex-Financial Secretary calls for ‘dreaded’ IR35 to be abolished 

The man who helped orchestrate IR35 reform, Mel Stride, has called for the abolition of the ‘dreaded’ IR35 rules Speaking at a Treasury committee hearing on 21st October, Mel Stride, who was instrumental in getting off-payroll reform over the line, has now…

Contractors, your view of substitution is wrong

It’s time contractors thought differently about the right of substitution and how to prove outside IR35 status Because there has been no real solution to the problem since IR35 was enforced 20 years ago, a contractor’s view of the right of…

Freelancers and contractors could be hit with tax bills higher than income 

Self-employed could face tax bills higher than their income because of the pandemic Many freelancers and contractors will be hit with multiple tax bills next year that fail to take into account the loss of earnings as a result of…

Eamonn Holmes to challenge £250,000 IR35 ruling

TV presenter Eamonn Holmes takes HMRC to court to appeal IR35 ruling  Eamonn Holmes, who hosts ITV’s This Morning with his wife Ruth Langsford, has filed an official court listing and is fighting the taxman at an Upper Tier Tribunal…