Monthly Archives: June 2017

Tax compliance: what you need to know

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HMRC has numerous powers to check a business’ tax position. This can include VAT assurance visits or enquiries into self assessment tax returns or stamp duty land tax (SDLT) for land transactions. Checks are usually undertaken after a submission of a return but pre-return checks can be undertaken if HMRC believes there is a tax risk, but you need to… Read more »

Tories and Labour vow to freeze VAT

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In the 2017 Budget the Tories helped working families at the expense of contractor dividends. It appears that in the next election, Theresa May will also concentrate on helping working families but this time there will be no attack on PSCs. In an interview Theresa May said that the Conservatives “absolutely want to reduce taxes” on such families, which is… Read more »

Government shelves MTD and revises IR35 rules

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The Making Tax Digital (MTD) scheme that was widely unpopular was omitted from the 2017 Finance Bill. The bill was shorter than that originally proposed. By removing the MTD from the bill, the government appears to be accepting as valid the concerns that some people had that with a snap election there was too little time to properly scrutinize the… Read more »

HMRC gives bad advice on expenses

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According to PRISM, the employment intermediary trade body, HMRC call centres have been giving contractors bad advice. Contractors have been told that they are entitled to key expenses when they are not. Workers have mistakenly been told that they are entitled to subsistence, travel or other expenses despite the fact they are subject to Supervision, Direction and Control and IR35…. Read more »

Public bodies raise rates ahead of IR35 reforms

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Public bodies are raising their rates to incentivise some PSC contractors who will be caught by the new IR35 laws. The rise in rates is to encourage the contractors to stay with the public bodies. The rates are typically used for PSCs who agree to instead work via umbrella companies; the increases have been designed to offset the extra tax… Read more »

Failure to prevent tax evasion will become a criminal offence

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The government is set to introduce new legislation under the Criminal Finances Act 2017 which will make companies liable for criminal acts committed by their employees who assist or encourage tax evasion by others such as suppliers or customers. Businesses will be liable even if the senior management were not involved or were unaware of the acts being committed. The… Read more »

UK businesses do not want major changes to employment laws

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According to a recent survey, only five per cent of British businesses want major changes to employment laws after Brexit. However, the same survey did reveal that 65 per cent would support some changes to employment laws. GQ Employment Law carried out the survey and its key findings included the following. Seventy-five per cent of those questioned would like the… Read more »