February 6, 2023
In Pavan Trading Ltd, HMRC applied the wrong logic and then doubled down at the review stage, ending with the tribunal being less than impressed.
HMRC Archives - Personal Tax Accountant Services Uk - Tax Advisors Consultant London
January 25, 2023
The Revenue has chosen the week commencing 16 January to start hassling online sellers, gig economy workers and influencers for tax they may owe on undeclared sales.
January 24, 2023
HMRC has strengthened its “standard for agents” by including stricter transparency rules and greater evidence of customer consent following a consultation on improving standards in the repayment agent sector.
January 16, 2023
The government is set to introduce transparency requirements for agents and legislate to ban the use of deeds of assignments of income tax repayments as part of its plans to crack down on the repayment agent market.
December 6, 2022
HMRC’s new variable Direct Debit payment plan function is now live but has suffered from teething problems in its first few months. What are the issues and what should accountants be aware of?
November 23, 2022
Measures announced in the Autumn Statement by chancellor of the exchequer Jeremy Hunt are projected to bring in an extra £1.7bn ($2bn, €1.96bn) by 2027/28 via a crackdown on tax avoidance and evasion, said law firm Pinsent Masons.
October 21, 2022
More than one million claimant families receiving tax credits, and no other means-tested benefits, will get their second cost of living payment from Wednesday November 23, HM Revenue and Customs (HMRC) has confirmed.
October 19, 2022
A 16-minute drama charting the downfall of an accountant, trusted business advisers and a failing restaurateur as they become embroiled in a money-laundering plot, has scooped an array of prizes at the 2022 Association Excellence Awards.
The awards, which took place at the KIA Oval in London on Friday 14 October, saw the film receive the gold award for Best Learning / Professional Development Programme – in what judges described as the most competitive category – and silver awards in Best Innovation by an Association and Best Association Partnership or Collaboration.
October 12, 2022
New HMRC research into the use of tax avoidance schemes fails to acknowledge the impact of “ill-thought-out” IR35 reforms, according to Fred Dures, founder at umbrella payroll auditing provider, PayePass.
The research, commenced in March 2021 and released in September 2022, was conducted to gather insight into how disguised remuneration tax avoidance schemes are promoted to contractors, with the intention of more effectively tackling future schemes.
But according to Dures, the report was “a waste of time”. It shirks responsibility for changes to the IR35 legislation in 2021, which ultimately caused an uptick in the use of disguised remuneration schemes, he argued.
“Still, HMRC refuses to acknowledge that these ill-thought-out changes have been a major contributing factor to the wave of non-compliant umbrella companies entering the market.
“HMRC must shoulder a large portion of the blame.”
The Shifting IR35 Landscape
In 2021, the IR35 rules were tightened for private sector entities. While contractors were previously responsible for determining their own IR35 status, the change meant the compliance burden shifted further up the supply chain to the end client.
However, following Chancellor Kwasi Kwarteng’s ‘mini-Budget’ statement on September 23, the changes are now due to be repealed.
“The hopefully soon-to-be-reversed reform to IR35 in the private sector in 2021 directly led to an increase in tax avoidance schemes,” Dures argued.
The government has done “very little” to clamp down on the use of disguised remuneration schemes, Seb Maley, CEO of contractor services specialist Qdos.
“That nearly a third of contractors have been offered or told about at least one way of managing tax through what they viewed as a tax avoidance scheme tells you everything you need to know.
“These schemes aren’t few and far between – they’re commonplace and easy to find.”