UHY Ross Brooke Chartered Accountants
Over the last few days, we have seen a gradual dismantling of the mini-budget of Friday 23 September 2022, along with the economic policies that Prime Minister Liz Truss based her leadership campaign on. On Friday 14th October, Ms Truss announced a change of Chancellor, from Kwasi Kwarteng to Jeremy
Facing huge criticism and market turbulence following his announcement of a series of “growth” measures, Chancellor Kwasi Kwarteng has backtracked on his decision to abolish the 45p rate of income tax paid by people earning more than £150,000 a year. The proposal to scrap the rate had been criticised as
by Phil Kinzett-Evans The Government’s mini-Budget has come under a great deal of criticism, but there were things that businesses can utilise to strengthen their growth position and invest in their human capital: Existing businesses The well noted removal of the increase to Corporation Tax means that companies who budgeted
The announcement in the mini budget that the 2017 and 2021 amendments to the taxation of Off-payroll arrangements were to be withdrawn in April 2023 came as a total shock many. By Chris Davies So, is IR35 dead and what does it mean to existing and potential contractors? No IR35
“Umbrella” companies are often set up by employment agencies to supply workers to end user clients. Many of these are compliant with the tax rules, but some use contrived arrangements that claim to allow agency workers and contractors to pay less tax on their earnings. HMRC have successfully challenged many
HMRC have recently published details of the promoters of two tax avoidance schemes that purport to allow workers to maximise their take home pay. HMRC wants employers and employees to understand that these schemes (involving individuals agreeing an employment contract and working as a contractor) do not work and is
HMRC have recently confirmed that the new Off-Payroll rules explained in our earlier blog https://www.ross-brooke.co.uk/off-payroll-working-rules-from-5-april-2020-what-are-they-how-do-they-affect-me-and-what-should-i-do-now/ will only apply to work performed after 5 April 2021, regardless of actual payment date. Whilst that is good news for contractors it is only a very short term fix to a very big problem.
For some years the government have recognised that the IR35 rules have not been working and introduced legislation in April 2018 to tackle the tax gap but only in relation to those working in the public sector. In the 2018 Budget the government announced that business will become responsible for
Since its introduction IR35 has been fraught with uncertainty and it has never produced the millions of extra tax revenue that the Government predicted. HMRC have very few officers working on IR35 cases and following numerous defeats before the Tax Tribunals the Government have decided that a different approach is
The IR35 Business Entity Tests and example scenarios have been with us for over 2 years now, but are they working? No, according to the minutes of a recent meeting of the IR35 Forum consisting of a focus group of independent advisers, who concluded that the business entity tests were