Browsing Category
HMRC
HMRC scrutiny over freelancers on the rise
TAX CLINIC/READER QUESTION
What would trigger an HMRC investigation? Is it different for a limited company freelancer versus an umbrella company worker? And if your umbrella company or payroll service has been named by HMRC as a tax…
Self-employed could be “back into the abyss”
British entrepreneurialism is under attack by what appears to be counterproductive government-led tax grab and hiring policies, writes Katherine Steiner-Dicks
IR35, Off-Payroll rules, Loan Charges, pocketed umbrella contractor holiday…
By 2025 almost everyone will be paying more tax
Just when you manage to negotiate a pay or rate rise, you are pushed into a higher tax bracket. It seems the National Insurance tweak eases April’s pain for some, but not by much. Enjoy it while you can because by 2025 every worker can…
Exchequer v. HMRC: will it mean more bills for contractors?
This article has been updated
Judges have ruled that umbrella provider Exchequer Solutions owes HMRC £11m in unpaid tax, but will contractors end up picking up the tax tab? We ask the experts to see what they think and their tips to…
Modern-day “serfdom”? Brits spend over 40% of the year working for the taxman. Umbrella…
Taxpayers worked 159 days for HMRC this year. The 8th of June is the first day they start working for themselves. But with umbrella company contractors forking out both employee and employer national insurance contributions, and the…
What do you do if you get a SEISS reassessment letter?
Freelancers and small business owners could receive a letter from HMRC identifying them as taxpayers who must repay all or part of their fourth or fifth self-employment income support scheme (SEISS) grant following a tax return…
HMRC cracks down on workers’ tips and gratuity
Agency workers that receive tips or gratuity as part of their job or service industry, could have their employment records checked from time to time by HMRC. A review of their employer's records would be carried out by HMRC to make sure…
These tax year tips could help you make ends meet
“In the new tax year freelancers are having to deal with the most wide-ranging changes in personal income taxation for more than a decade, says Daniel Fallows, director of accountancy Gorilla.
“We have to go back as…
Contractors blindsided by MSC tax charges
HMRC has issued letters to thousands of contractors, demanding up to £50,000 from them. The tax office is arguing that contractors have breached the MSC legislation – this is despite HMRC not having established all of the facts, says Seb…
Fiscal drag to trap more freelancers into 40% tax bracket
By Daniel Fallows
As the UK faces a cost-of-living crisis with inflation reaching its highest level for 30 years and the Bank of England forecasting that inflation will rise further to 8% this year – Rishi Sunak has been…