VAT man pledges good grace to EU IT contractors
The taxman is promising leniency when penalising EU IT contractors yet to reflect VAT reforms effective from January 1st.It''s claimed the most savvy UK IT contractors working with services from the Continent...
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Tories plan to shake up contractor tax system
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The 600,000 people who sell their services in this way would pay the £2.40 a week due under Class 2 NICs, which is paid by the self-employed. That''s instead of the Class 1 National Insurance Contributions (NICS) on their income they currently pay.
The change is being discussed as part of wider Tory plans to reform small business taxation.
Shadow business minister, Mark Prisk, says the government''s IR35 legislation, introduced in 1999 to tackle what was seen as a £900m tax loophole, is particularly unfair.
He says the current government has treated the self-employed "disgracefully", almost as if "they are on the fiddle".
Prisk says the party isn''t trying to avoid taxation, rather they''re looking for a "fairer, more transparent system".
If you have any queries about the system, Excellium have the expertise to advise you.
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Tax return deadline looms
Do your Self Assessment tax return online by the end of January, or risk a penalty. That''s the message to come from HM Revenue and Customs.Returns online must be filed by the end of this month. If you...
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PCG: time for a fresh approach to freelancing
The contractor representative group PCG is calling on the Government and policy makers to look at freelancing with fresh eyes at the start of the new decade.John Brazier, MD of the PCG, says freelance...
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Medical professionals on the tax table
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Video Transcript
In the run-up to the general election the Conservative party says it plans to allow "one man" companies to opt out of employment.The 600,000 people who sell their services in this way would pay the £2.40 a week due under Class 2 NICs, which is paid by the self-employed. That''s instead of the Class 1 National Insurance Contributions (NICS) on their income they currently pay.
The change is being discussed as part of wider Tory plans to reform small business taxation.
Shadow business minister, Mark Prisk, says the government''s IR35 legislation, introduced in 1999 to tackle what was seen as a £900m tax loophole, is particularly unfair.
He says the current government has treated the self-employed "disgracefully", almost as if "they are on the fiddle".
Prisk says the party isn''t trying to avoid taxation, rather they''re looking for a "fairer, more transparent system".
If you have any queries about the system, Excellium have the expertise to advise you.
