Contractors working via their own limited company have been advised by the PCG to ensure they are not caught under the IR35 legislation and ensure all new contracts are reviewed by an IR35 expert. This warning has come as the PCG have noticed that HMRC appear to be adopting a more devious approach to tax [...]
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Contractors working via their own limited company may be interested to know that HMRC recently lost their case against a couple who it claimed owed nearly £20,000 tax on four years’ dividends.
HM Revenue and Customs took the Patmores to court under s660a of the Income and Corporation Taxes Act 1988 but Barbara Mosedale, the tribunal [...]
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In a bid to collect outstanding taxes, HMRC have enlisted the services of four debt collection agencies. The government hopes this will bring in an additional £140m over the current financial year.
HMRC will give taxpayers the chance to pay, or make an arrangement to pay, before passing the outstanding debt on to one of the [...]
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A leading accountant says that the number of limited company directors taking illegal dividends or loans has risen at a rapid rate and HMRC wants these directors banned.
HMRC are aware of a sharp rise in the number of allegedly illegal dividends and director loans drawn by the owners of limited companies and have approached insolvency [...]
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It has been revealed that Deepak Singh, Chief Information Officer at HMRC, who was employed by them for 3 years contracted to HMRC through his personal service company for a three month period beginning June 2009. Singh had a three year contract at HMRC earning £160,000 per annum, ending in June last year.
However, for three [...]
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Medical professionals in the UK are the latest group being targeted by HMRC for unpaid taxes. They sent letters to doctors and dentists asking them to come forward with any admissions of unpaid tax from previous earnings with a deadline set for the end of June.
Those who admitted unpaid tax before 30th June could pay [...]
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HM Revenue and Customs have announced plans to scrap the seven-day ‘grace’ period for filing company tax returns and employers end-of-year returns affecting contractors working through their limited company. From March 31st 2011, these returns must be submitted to HMRC by the required dates.
The seven day ‘grace’ period meant that HMRC did not issue penalties [...]
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The Service Providers Association (SPA) formed in 2008 has rebranded as the Freelancer and Contractor Services Association (FCSA) but who are they?
It was originally formed with an aim to improving standards in the industry and they want to work with Treasury and HMRC to implement measures to achieve their goal. FCSA members stake their reputation [...]
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Contractors working through their own limited company should be aware that from April 1st, 2010 all cheque payments for VAT, sent to HMRC by post will be treated as being received by HM Revenue and Customs on the date when cleared funds reach their bank account. It will no longer be the date when HMRC [...]
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It has been brought to Independent Contractor Services’ attention that there is yet another phishing email in circulation targeting thousands of people, including contractors, stating they are due a tax refund from HM Revenue and Customs.
HMRC would, once again, like to highlight that these emails are not from them and they are phishing emails. They [...]
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