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HMRC
HMRC offers relief with interest rate tweak, but taxpayers still get a raw deal
HMRC has decided to be a little bit nicer and cut the interest rate they charge on late tax payments. This comes after the Bank of England snipped the base rate down a tad, from 4.75% to 4.5%.
From the 17th of February, if you're late…
HMRC penalties start later than you might think
A technical glitch at Barclays Bank last Friday, 31 January, inadvertently revealed the little-known deadline for HMRC's first late payment charges. The system failure prevented some Barclays customers, and potentially others, from paying…
Packham on loan charge scandal: “Treasury will do all they can to avoid the truth coming out”
SPECIAL REPORT
MPs, campaigners, contractors and small business owners across the country are outraged about the government denying them their call for a legitimate independent review of the Loan Charge Scandal as promised by Rachel…
Lineker’s IR35 Saga Ends in Settlement: Lessons for Freelancers
Gary Lineker's high-profile IR35 dispute with HMRC has finally concluded, with the two parties reaching an out-of-court settlement. While the exact details remain confidential, the case offers valuable lessons for freelancers about…
This is how Managed Service Companies target uninformed and unsuspecting freelancers
Freelancers face potentially devastating tax bills due to complex "Managed Service Company" rules
HMRC has issued a stark warning to freelancers, contractors, and consultants about the dangers of "Managed Service Companies" (MSCs).…
Easiest way to spot a tax scam if you’re self-employed
With the January 31st self-assessment deadline looming, HMRC has issued a warning to the UK's self-employed workforce: be on your guard against a rising tide of tax scams
New figures reveal a worrying 16.7% surge in reported scams…
Should HMRC profit from taxpayers?
HMRC’s reduced interest on late payments hides the refunds “elephant in the room” says one contractor sector specialist
The UK tax authority, HMRC, recently announced a reduction in the interest rate charged on late tax payments,…
HMRC to hike interest on tax debts in £500m tax grab
Freelancers and self-employed individuals across the UK face higher financial burdens as HM Revenue & Customs (HMRC) increases the interest rate on unpaid tax debts.
This measure, unveiled by Chancellor of the Exchequer Rachel…
ENI tax hikes: experts say the implications could be costly and risky for some contractors
The recent hike in employers' national insurance tax has sent ripples through the contracting world, leaving many unsure of whether to celebrate or brace for impact. While some contractors may find themselves with unexpected benefits,…
Freelancers urged to file taxes early: here’s why
Many freelancers are already feeling stressed about "painful" surprises that could be announced in the Labour Party's Autumn Budget. That is why freelancers should aim to get their tax returns sorted now, rather than when the annual…