What they don't tell you in the sales pitch.com
2 years on and the pressure seems to be increasing and rightly so!
The mis-selling of expenses as a tax benefit continues to be eradicated albeit slowly!
Did the first coalition emergency budget help Contractors with roles and rates and how the VAT rise will give you more cash.
Latest HMRC Tax Bulletin restates intention to continue looking at "expense led schemes" for Contractors and wrongly operated Umbrella's.
Winners and losers in expense rates for all Umbrella Company contractors and employers.
Will HMRC introduce fixed expense levels across the UK at the budget?
The taxman’s getting tougher. After the pre-budget report, what next for contractors and agencies? No changes to the rules surrounding expense claims by contractors! After this good news for contractors in November’s pre-budget report, what next? I’m wondering what HMRC has in store and how it will affect Contractors and Agencies.
Last Wednesday, we saw HMRC issue some updates in relation to Managed Service Company (MSC) legislation. Since the MSC legislation came into force (April 2007) we had seen a wealth of “tax efficient” solutions spring up – many claimed very high returns for Contractors and the amount of money that was pumped into legal advice and Google advertising meant that they will have been attractive to many.
Buried amongst the headlines of today’s Pre Budget Report (PBR) came the news that the Government had listened to contractors, compliant umbrella companies, agencies and trade bodies. Under the heading “Helping People Fairly” the Treasury has “…decided to leave the current rules (Tax relief for travel expenses; temporary workers and overarching employment contracts) unchanged.” This is great news for contractors who work for Parasol and means that the risks that contractors take in finding work, travelling and working hard have been recognised.