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Saturday, January 19, 2019
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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...
Recruitment bosses speak out over Brexit stalemate   Until now, the recruitment sector has weathered Brexit fairly well – but the current political stalemate in Westminster over leaving the European Union now represents a real risk that placements may start to suffer, recruitment company chiefs have warned in Recruiter magazine. David Taylor,...
HMRC online IR35 checker remains inaccurate As most contractors will know, determining one’s IR35 status can be a tricky process.  When the Government recently moved the burden of IR35 assessments to the HR departments of public sector bodies and away from their contractors through the introduction of the Off-Payroll rules,...
HMRC attempt to conceal internal documents in key EBT case   An interesting case is being heard before the First Tier Tax Tribunal that may form a test case for thousands of similar cases involving the use of Employment Benefit Trusts in the years leading up to Finance Act 2011. Janet Addo...
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...
National Insurance hikes a positive outcome for contractors   Termed a tax cut for the rich, one of the most headline-grabbing measures announced in Philip Hammond’s Autumn Budget last month was to increase the threshold for higher rate income tax to £50,000. This effectively means moving thousands of taxpayers out of...
Lords speak out against Loan Charge Amendments to the 2019 Loan Charge garnered further parliamentary support last week during an impassioned speech in the House of Lords by Conservative peer Baroness Noakes. Baroness Noakes was appointed to the Economic Affairs Finance Bill Sub-Committee in September, which is the Lords’ sub-committee that...
HMRC chief dodges questions over its own contractors’ tax affairs The taxman may end up with egg on his face this month after being repeatedly asked by the Economic Affairs Finance Bill Sub-Committee whether HMRC itself has ever utilised contractors who were paid using disguised remuneration schemes. Ruth Stanier, HMRC’s director...
HMRC tells taxpayers to take out personal loans to pay tax debts The Daily Telegraph has learned of a new initiative by HMRC to get taxpayers with debts to the taxman to pay up sooner by selling assets or taking out personal loans, in letters that urge them to make...
Debate on Loan Charge scheduled for Parliament A dedicated Parliamentary debate to discuss the Loan Charge has been scheduled for next Tuesday, 20th November, from 2:30pm to 4:00pm, an event that will be closely followed by many contractors affected by the impending legislation. After weeks of lobbying and pressure from affected...