Monthly Archives: February 2017

Public sector contractors should submit their invoices

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Contractors who work in the public sector have been warned by a freelance lobby group that they should submit their invoices in March so that they will receive any payments due to them before 5th April. The warning was issued by IPSE because from 6th April any payments contractors receive may be subject to new tax rules of a punitive… Read more »

HMRC crackdown nets £468m

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HMRC has netted £468 million from its investigations into the tax affairs of medium and small sized businesses. The figure is for the year that ended in March 2016 and comes from the accountancy group UHY Hacker and Young. According to UHY Hacker and Young, HMRC has intensified its crackdown on smaller businesses as its investigations of larger businesses have… Read more »

Brexit represents opportunity to devolve tax

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According to Tim Sarson a tax partner at KPMG, Brexit represents an opportunity to devolve tax for corporations to the UK regions. This would spread investment across the country. Mr Sarson’s comments came after the government had published its industrial strategy green paper and the Brexit announcements. Mr. Sarson said: “Addressing regional imbalances is vital to improving the UK’s prospects… Read more »

HMRC fines 8,000 more people

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The number of people fined by HMRC for deliberate errors on their tax returns is up by 40% more than last year.  The figure was revealed by a Freedom of Information request.  All the individuals were fined for deliberately understating their income on their tax return. In 2015-16 HMRC issued 28,663 fines for errors on tax returns, while in 2014-15… Read more »

Self-employed have unfair advantage

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The Institute for Fiscal Studies (IFS) has released a report which suggests that self-employed individuals have an unfair tax advantage over employees. The report says that the tax system treats the self-employed, employees and owner-managers differently and these differences are inefficient, costly and unfair. The report says that company owners can take income from their companies as dividends rather than… Read more »

Shortages at highest level since 2008

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After the Brexit vote industry expectations about future workloads dipped but they have now regained the ground they lost.  This comes from the latest construction market survey from the Royal Institution of Chartered Surveyors (RICS). The report revealed that workload and employment expectations had returned to their pre-referendum levels. However, while expectations about work and the number of construction jobs… Read more »