Blog Tag Archives: HMRC

Quick budget summary for Ltd Co contractors

Despite first appearances, this budget doesn’t seem as bad for Ltd Co contractors as the scaremongering press might have us believe. Sure, there are several measures targeted directly at freelancers, but the financial impact of each seems less than catastrophic, unless you’re working in the public sector of course!

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HMRC’s online IR35 assessment tool is finally here!

Whether you’re working in the public or private sector this tool will determine if your assignments fall outside of the intermediaries legislation (known as IR35). This is in beta test phase currently but HMRC has stated clearly that they will stand by the decisions given, so ensure you keep a printout!

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Raising the red flag – is your agency doctoring the Dotas rules?

“Everyone’s moral compass is different, isn’t it?” – Patrick Griffin, Premier Payco.         Tax might be an unwanted outgoing, but the fact remains, it’s a necessary obligation for most companies. So, when certain businesses (who are as obligated to pay as any other) deliberately employ underhand tactics to avoid paying out, it […]

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Tax default disgrace – why all contractors should vet their payroll provider

Every quarter, HMRC names and shames the largest deliberate tax defaulters (owing >£25K) – and last week they threw two key payroll providers’ reputations into disrepute. We’re taking this opportunity, therefore, to highlight once again the need for contractors to exercise extreme diligence and caution when selecting who they work with.

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Travel and subsistence expenses – will you still be able to claim?

Most readers will be aware that Ltd company contractors have historically been able to claim travel and subsistence expenses for travelling to and from their place of work, thus saving both tax and NI contributions, but this changes from 6 April 2016.

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The Tax Man is coming… after Offshore Ltd Co’s

HMRC stated a few months back that they “will introduce a new strict liability criminal offence that could mean jail for those who do not declare taxable offshore income’’ since when many freelance contractors and consultants have been keeping a keen eye on what’s coming. We’ve now learned that HMRC are already in consultation over […]

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IR35 legislation news following House of Lords review

Following a critical House of Lords review of the IR35 legislation, they found hostility amongst contractors towards the legislation. HMRC were asked to do more to prove its worth and have responded by providing new IR35 intermediaries legislation guidance which can be downloaded here.

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HMRC crackdown could affect Contractors using Offshore Limited and Umbrella Companies

HM Revenue and Customs is now mid-way through their consultation on ‘Offshore Employment Intermediaries’ which may dramatically impact those freelance technology and engineering contractors that currently use offshore arrangements to reduce their tax liabilities. “The existing legislation has been exploited, particularly in certain sectors, allowing companies who are willing to set up offshore arrangements to […]

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Kerching! A celebrity guide to tax dodging

A topic that remains at the forefront of most contractors minds is tax avoidance, otherwise known as ‘Carr Tax’ thanks to celebrities like Jimmy Carr playing hide and seek with the tax man. And with tax avoidance costing the Treasury nearly £25bn a year, something has to be done.

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New IR35 Guidance Advice

HMRC LOGO - Tech Res - IT Jobs & Enginering Jobs specialists

  A little while ago, we talked about the HMRC devising a simple ‘business tax test’  for Contractors to better understand (or clarify) their correct tax status. Since their announcement, several websites have produced results based on the test to help you better ‘score’ your own limited company. We have found the most comprehensive and easy […]

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