Category Archives: News and Articles

Is IR35 roll-out to the private sector unavoidable?

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The freelance sector are waiting for Mr Hammond to prepare his Budget on November 22nd.  The IR35 reforms that came into effect in the public sector in April are being indicated to be rolled out into the private sector as soon April 2018.  Despite the devastation that the changes caused the public sector, particularly the NHS. There are numerous arguments… Read more »

VAT recommendations are not what they seem

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The Office of Tax Simplification (OTS) recommendations for the VAT system and concludes that reform is needed, but the Chancellor must proceed with care. Don’t stress There has been conversation that the Chancellor could slash the VAT registration threshold from £85,000 to £26,000 in his November Budget, bringing an extra one million businesses into the VAT net.  This was following… Read more »

IMF: Tax hikes won’t harm economic performance

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The International Monetary Fund (IMF) says that some wealthy countries could raise top rates of income tax without harming economic performance.  A new report from the IMF looks at what governments can do about inequality. The IMF argues that government spending and tax policies play an important role in determining the level of inequality, which has increased in developed economies… Read more »

Taylor Review: resistance from MPs

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Matthew Taylor, the author of the Taylor Review on the gig economy, cautioned MPs against sudden changes to on-demand working. Taylor was commissioned by Theresa May to investigate the working conditions of the gig economy. In the highly anticipated report, Taylor recommended that gig economy workers to be classified as “dependent contractors”. The new framework is to cater for the… Read more »

Incorporating buy-to-let businesses

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In April, there was a major change to the income tax rules for landlords.  Tax relief is now going to be restricted to basic rate only, with the changes phased in over four years.  Individual circumstances on the restriction could produce high effective tax rates. The restriction will not apply to companies, prompting landlords to question whether it might be… Read more »

Problems with New Childcare Service

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It has been widely reported that the MP Nicky Morgan, who is  chair of the Treasury Select Committee, has written to HMRC’s Chief Executive to take him to task over problems with the new Childcare Service. This appears to be in anticipation of consideration by the TSC. Parents are unable to access their digital services account, along with childcare providers;… Read more »

Making Tax Digital

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On 13th July 2017, the government announced a new timetable and changes to the implementation of Making Tax Digital which will now take effect in April 2019 and will only be mandatory for businesses over the VAT threshold. New timetable and focus on VAT Under the new timetable: only businesses with turnover above the VAT threshold (currently £85,000) must keep… Read more »

Truth about cloud security

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The cloud is much more secure than it seems, with 85% of businesses having a multi-cloud strategy trusting these services with their own and their clients most sensitive data. Understandably people are cautious about putting business’s and clients’ data on the internet, as essentially it is a publicly accessible network. Business-class cloud services are working around this limitation with encryption… Read more »

Taxable dividend and interest income below the threshold for a self assessment tax return – the process clarified

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The criteria for filing a self assessment tax return been updated and for 2016/17 a return is required where: your income from savings or investments was £10,000 or more before tax your income from share dividends was £10,000 or more before tax According to ICAEW, it begs the question about the process for those who have income from dividends and… Read more »

Top ten IR35 myths exposed

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Top ten IR35 myths exposed 1. IR35 applies when I’ve been on site for 2 years IR35 depends on how you work on a day-to-day basis, not how long you’ve been working at one place. It’s true that the longer you work somewhere the more likely you are to be deemed ‘part and parcel’ of the firm, and HMRC will of… Read more »