The Web Designer Group Tracking
Tuesday, November 20, 2018
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US Backlash over Chancellor’s Digital Services Tax US political leaders and business groups have spoken out against Chancellor Philip Hammond’s proposed new Digital Services Tax, announced in the Autumn Budget on Monday. Rep. Kevin Brady R-Texas, chairman of The Committee on Ways and Means, the House of Representatives’ chief tax-writing committee,...
Private sector Off-Payroll expected to net £3bn Whilst higher earners and the NHS were amongst the largest beneficiaries of Philip Hammond’s “giveaway” Budget on Monday, contractors have been left licking their wounds after Treasury figures have confirmed that limited company contractors will be helping to fund Mr Hammond’s munificence to...
Off Payroll in the Private Sector – Will It Affect Me? Monday’s Budget confirmed that the new Off Payroll IR35 rules will soon be rolled-out to the private sector – but what exactly are the Off Payroll rules and who will be affected? Background The government introduced IR35 in April 2000 to...
Autumn Budget confirms Off-Payroll roll-out to private sector to be delayed by 12 months The main headline for contractors in Philip Hammond’s 2018 Autumn Budget is undoubtedly the confirmation that the IR35 “Off-Payroll” rules will indeed be extended to the private sector, one year later than previously anticipated, in April...
HMRC win £79million in Court of Appeal The collapse of Enron in 2001 left one of the largest and most complex bankruptcy proceedings the world has ever seen, with debts of $67 billion across some 20,000 creditors. One of those creditors was Teesside Power Limited (TPL), the owner/operator of a power...
Amazon to create more than 1,000 jobs in UK Uncertainty surrounding Brexit and the increasingly real prospect of the UK crashing out of the EU without a trade deal seemingly has not deterred Amazon, who have just announced plans to create more than 1,000 highly skilled tech jobs across three...
HMRC announces further delays in MTD rollout for complex cases The rollout of the new Maxing Tax Digital (MTD) initiative is to be delayed from April 2019 to October 2019 for those businesses with “more complex requirements”, according to a recent HMRC update. The delay may come as an embarrassment to...
HMRC have held a consultation on the IR35 rulings around off-payroll workers within the private sector. Recently rolled out to the public sector last year, the sector faced shambles for workers that lent their services to public sector clients through their personal service companies, with many blanket-ruled inside of...
Ever since the IT contracting boom of the 90s, limited company contracting has been a sensible and rewarding way to earn a living as a contractor. Combining the flexibility of self-employment with the advantages of corporate tax structures, forming your own contracting company has been the go-to recommendation of...
For decades now contractors have been approached with tax schemes involving loans. In essence these schemes involve describing a part of the contractor’s income as a loan, rather than taxable salaries or dividends, supposedly saving thousands of pounds in tax. The problem these schemes share is that the Revenue...