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Tax
Political palava: MP salary boost same day as NI tax hike
Many freelancers and small business owners would like to see the national insurance tax hike set for this April to be postponed. But in light of upcoming MP pay rises and soaring energy prices, a growing number of them are calling for the…
Court thwarts HMRC’s tax grab on freelancers
The outcome of a landmark and very personal First-Tier Tax Tribunal case, that dragged on for five years, is a reminder to all freelancers and small business owners that, sometimes, a battle is worth fighting for.
Businesses owners,…
Hidden £1.7 Billion tax Grab on self-employed
One could say that the Chancellor chose to hand out tricks rather than treats this Halloween in the form of a £1.7bn tax grab hidden in his Autumn budget
Could you afford to pay a tax bill over not just one tax year but two? If not,…
Freelancers face £25 billion tax admin burden
The Federation of Small Businesses is calling on the Government to protect small businesses from unfair profit-seeking behaviour from Make Tax Digital (MTD) software providers and other recommendations to avoid economic hardship for…
More tax hikes to come?
Under current government spending plans, council tax increases of 3.6% per year will be needed for the next three years just to ensure councils can provide the same range and quality of services in 2024–25 as was provided…
Freelancers may have to pay back ‘COVID’ tax benefits
SEISS, child benefit and marriage allowance are some of the tax benefits sole traders and limited company directors may have to pay back if their income increased more than a normal trading year during the COVID pandemic.
…
Labour Party vows to abolish business rates
The Labour Party is vowing if it came into majority power it would freeze business rates next year. Rachel Reeves, Shadow Chancellor of the Exchequer and Labour MP for Leeds West, made some bold statements about abolishing the current…
ONS reveals £35bn in missing tax payments
Some wealth planners are expecting radical changes to the UK tax system in the next few years.
The Office for National Statistics has published a report, 'Measuring tax gaps', noting that the tax gap amounted to £35bn, or 5.3% in the…
HMRC handed new powers to Clampdown on promoters of tax avoidance schemes
UMBRELLA COMPANY CONTRACTORS
ICAEW warns that the current legislative phrasing provides HMRC with “a very wide-ranging power with extremely serious consequences.”
The government is giving the nation's tax authority, the HMRC, more…
NI tax hikes: Will umbrella contractors get the chop?
The UK's Federation of Small Business (FSB) has called the Conservative government's national insurance tax hike of 1.25% as “anti-small business” and could spark job losses of 50,000 or more. It will also lead to a 2.5% national…