What will 2017 bring for contractors?

      Comments Off on What will 2017 bring for contractors?

A new year is just starting, but what will 2017 bring for contractors? According to KPMG Head of Infrastructure, Building and Construction Richard Threlfall, it will depend on which sector a contractor works in. Contractors in different sections of the construction industry will have very different experiences. “2017 will divide the construction sector into winners and losers. Contractors in infrastructure… Read more »

HMRC fails to issue penalties correctly

      Comments Off on HMRC fails to issue penalties correctly

HMRC has had to withdraw over 4,000 of its according Advance Payment Notices (APNs) to an accountancy firm. Moore Stephens says that of the 60,000 APNs that HMRC has issued, one in 14 should not have been issued. This raises concerns over whether the Counter Avoidance Directorate has sufficient resources to do its job. The Counter Avoidance Directorate is the… Read more »

Penalties for tax avoidance scheme providers

      Comments Off on Penalties for tax avoidance scheme providers

A consultation document published by HMRC entitled Strengthening Tax Avoidance Sanctions and Deterrents has elicited strong support for it’s proposals to force the promoters of tax avoidance schemes to assume some of the risk. The consultation closed in October of last year, and the subsequent paper contained several proposals, including a new penalty for any individual who constructs, markets, sells… Read more »

UK labour market gets new enforcer

      Comments Off on UK labour market gets new enforcer

The government has appointed a new pay and pricing guru, with Sir David Metcalf set to take up the new position of Director of Labour Market Enforcement. Sir Metcalf has in the past advised on matters such as the minimum wage, salaries of judges and betting prices. In his new role, he will oversee the coming together of three enforcement… Read more »

Clampdown on public sector contractors

      Comments Off on Clampdown on public sector contractors

The Autumn Statement brought disappointment for trade bodies and industry as the government ignored pleas to rethink their clampdown on public sector contractors operating through Personal Service Companies (PSCs). The government has adjusted IR35 in order to tackle “false self-employment” in the public sector. At present, it is the worker, in their role as PSC Director, who must determine whether… Read more »

Contractor body calls for self-employment definition

      Comments Off on Contractor body calls for self-employment definition

The Association of Independent Professionals and the Self-Employed (IPSE), has said that if a uniformly accepted definition of what being self-employed means was to be provided, it would introduce certainty to a lot of government reviews, including a new one that was recently announced. IPSE thinks that such a definition would lead to joined-up thinking about the self-employed. The Office… Read more »

National Living Wage to rise

      Comments Off on National Living Wage to rise

The National Living Wage (NLW) will be increased to £7.50 in April 2017. The increase was announced by Phillip Hammond, the chancellor in his first Autumn Statement. The increase was recommended by the Low Pay Commission (LPC). The increase represents a 4.2% rise on the current NLW wage. The NLW was introduced as the minimum wage for all workers aged… Read more »

Self-employed face worst of both worlds

      Comments Off on Self-employed face worst of both worlds

Research from a new think tank has revealed that the self-employed are worse off at work than employees. The self-employed are hit twice, as the report also revealed that many are no longer enjoying one of the traditional benefits of being self-employed, autonomy, as well. The paper entitled The employment divide: is it possible to simplify the distinction between self-employment… Read more »

HMRC updates guidance on recognising bogus calls

      Comments Off on HMRC updates guidance on recognising bogus calls

HMRC recently updated its guidance on recognising bogus calls. The guidance is entitled “Genuine HMRC contact and recognising phishing emails.” The guidance includes information on how to tell if emails are fraudulent, the HMRC Short Message Service (SMS) text messages, the current list of digital and other issues that HMRC might contact taxpayers about, and how to report phishing or… Read more »

Call to align digital tax plan waiver with VAT threshold

      Comments Off on Call to align digital tax plan waiver with VAT threshold

A call has been made to increase the level of income that exempts one-person businesses from reporting to the taxman quarterly by eight-fold. The call was made by the Chartered Institute of Taxation (CIOT) after a poll of its members revealed that 87 per cent would like the £83,000 VAT registration threshold to replace the £10,000 exemption that is being… Read more »