The Web Designer Group Tracking
Monday, March 25, 2019
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2019 Loan Charge update – this week’s developments in full A busy week for 2019 Loan Charge developments kicked off with a Sunday Times investigation revealing that several Ryanair pilots supplied through agencies had used disguised remuneration schemes and are now facing tax bills of up to £170,000 under the...
HMRC finally close year-long IR35 enquiry in favour of contractors HMRC last week ended the year-long ordeal of two contractors who worked through the same limited company, who were being chased for over £100k in unpaid PAYE tax and National Insurance under the IR35 rules whilst being able to clearly...
Loan Charge inquiry launches and invites evidence from taxpayers The 2019 Loan Charge All-Party Parliamentary Group (APPG) has commenced its formal inquiry into the 2019 Loan Charge this week, which will assess the impact of the unpopular tax on taxpayers, the fairness of the legislation and its controversial retrospective effects,...
HMRC refutes claims of CEST inaccuracies The taxman’s troubled online IR35 status checker, CEST, has come under further fire this week, as ContractorCalculator.co.uk published a statement on Tuesday claiming that CEST has “undergone no formal testing since its release almost two years ago”. The CEST tool was released alongside changes to...
HMRC reveal loan charge settlements average £166k The average loan charge settlement to date is £166,666, according to figures disclosed last week by HMRC at a meeting of the Commons Treasury Committee. The figure has surprised commentators and affected taxpayers alike, given that HMRC claimed the “typical” settlement is expected to...
Davos billionaires get knuckles rapped over tax avoidance Dutch historian Rutger Bregman ­caused a sensation at the World Economic Forum (WEF) in Davos, Switzerland this year by giving an impromptu speech attacking the ultra-wealthy for participating in tax avoidance whilst simultaneously claiming they are reducing world poverty through philanthropy. Bregman, author...
Self-employed contractors entitled to early Christmas present from taxman With the prospect of the 2019 Loan Charge and private sector roll-out of Off-Payroll looming over Christmas, contractors might be forgiven for thinking the Ghost of Christmas Past will be paying Hector a visit this year.  But its not all humbugs...
CIOT welcomes Lords’ report on HMRC powers The Chartered Institute of Taxation (CIOT) has welcomed a damning report by the House of Lords Economic Affairs Committee calling for additional safeguards for taxpayers and a limit to HMRC’s increasing powers. The Lords’ report calls for proposed new powers for HMRC to go...
Damning Lords report labels HMRC “not accountable” A damning report published last week by the House of Lords sub-committee in charge of reviewing the Finance Bill has called for a review of HMRC’s powers and accountability, citing increased powers bestowed upon the agency since 2012 and a tougher approach to...
GAAR panel rules against EFRBS loan schemes The independent General Anti-Abuse Rule (GAAR) Advisory Panel has ruled that two similar schemes involving employment-based loans have failed to comply with the GAAR, leading to hefty additional tax bills for the contractors involved. The two schemes used differing mechanisms to avoid income tax...