Accelerated Payment Notices (APN) – guide for contractors
Contractors who have used tax avoidance schemes could receive an Accelerated Payment Notice (APN) requiring them to pay the disputed tax up front.
Contractors may benefit from OTS’s proposed tax competitiveness measures
Contractors look set to benefit should the Office of Tax Simplification’s (OTS) proposals to improve the UK’s tax competitiveness become adopted.
VAT Flat Rate Scheme (FRS) - Guide to joining and leaving
Contractors joining and leaving the HMRC’s VAT Flat Rate Scheme (FRS) can time their move to maximise its benefits, says Abbott Moore’s James Abbott.
VAT Flat Rate Scheme – choosing the correct percentage
Contractors don’t always fit neatly into HMRC’s VAT Flat Rate Scheme Trade Sectors & choose the correct percentage, says Abbott Moore’s James Abbott.
HMRC Benchmarking letters – how contractors should deal with them
Contractors may start to receive HMRC Benchmarking letters from its Transparent Benchmarking Team, and should check their tax paperwork just in case.
Contractor tax avoidance schemes – an overview
Contractor tax avoidance schemes are worlds away from the schemes used by corporates and the wealthy – and some of them work, says David Colom of DJ Colom & Co
Contractor guide to the Construction Industry Scheme (CIS)
Contractors working on construction operations or hiring other contractors might have to register for the CIS scheme, explains ClearSky’s Neil Awbery.
Contractor tax avoidance schemes – understanding the benefits and risks
Contractors entering into tax avoidance schemes might find that they work, but there can be many pitfalls, as James Abbott of Abbott Moore explains.
Contractor guide to tax-avoidance legislation
Contractors increasingly encounter legislation designed to tackle tax-avoidance, which has become highly complex, says Abbott Moore’s James Abbott.
DOTAS: Contractors urged to prepare for campaign to oppose anti-avoidance legislation
Contractors are being urged to educate themselves about proposed anti-avoidance legislation and to prepare for a campaign to oppose the new laws.
Difference between tax avoidance and tax evasion
Contractors can use strategies for tax avoidance as the practice is perfectly legal, whereas deliberate tax evasion is illegal and a criminal offence.
Contractor guide to optimising VAT and the Flat Rate Scheme when starting out
Contractors can time their VAT and Flat Rate Scheme (FRS) registration to optimise VAT recovery when starting up, says James Abbott of Abbott Moore.
Contractor guide to the Employment Allowance
Contractors with no income except salary could be better off by £164 per year by using the Employment Allowance, says Abbott Moore’s James Abbott.
Tax breaks and allowances when buying assets like IT equipment
Contractors buying major assets such as IT equipment and commercial vehicles benefit from tax breaks and allowances, says Abbott Moore’s James Abbott.
Create a VAT only invoice – template included
New contractors can experience delays when registering for VAT and so may have to submit a VAT only invoice to clients when the VAT number arrives.
Minimising the risk of an HMRC investigation
Contractors can minimise the risk of being investigated by HMRC by taking simple yet effective measures, explains Abbott Moore’s James Abbott.
Contractor guide to wills and inheritance tax (IHT) planning
Contractors seeking to minimise inheritance tax should ensure they have a will and start planning early, says Abbott Moore’s James Abbott.
Limited company contractors face increased HMRC action as SME tax gap widens sharply
Limited company contractors may be facing an increase in HMRC compliance activity as the so-called tax gap for small businesses increases by £300m.
Contractors urged to stay calm in the face of the tax avoidance Witchfinder General
Contractors are likely to be unaffected by the latest government tax avoidance consultation and should hold their nerve, says DJ Colom’s David Colom.
Contractor guide to the advantages and disadvantages of being VAT registered
Contactors unlikely to earn more than £79,000 are not required to register for VAT, but there are advantages and disadvantages to non-registration.
Contractor guide to HMRC’s Real Time Information (RTI) annual scheme
Limited company contractors can now choose to submit their RTI payment submission for salary to HMRC annually, explains Abbott Moore’s James Abbott.
Off-payroll rules backfire: UK contractors replaced by non-EU workers paying less tax
EXCLUSIVE: The government’s off-payroll rules have spectacularly backfired, with contractors being replaced by non-EU ICT workers paying less tax.
Oil and gas contractor guide to tax and expenses when working offshore
Oil and gas contractors working offshore are subject to similar tax and expenses rules as onshore contractors, notes Pipeline Account’s Martin Watt.
Contractors told HMRC can use retrospective law to tax/fine them at government’s whim
Contractors face more uncertainty over tax as government uses the BN66 Section 58 committee hearing to reinforce its right to use retrospective law.
Tax residency rules for individual contractors and contractor limited companies
Contractors and their limited companies are subject to legislation that clarifies their tax residency status, explains James Abbott of Abbott Moore.
Contractors only marginally affected by offshore employment intermediaries proposals
Contractors using offshore tax schemes and less compliant umbrella companies may be only marginally affected by HMRC’s offshore employment proposals.
Contractors affected by BN66 awaiting crucial retrospective taxation vote by MPs
Contractors affected by BN66 are awaiting a key vote by MPs, which may set a dangerous retrospective taxation precedent, warns DJ Colom’s David Colom.
Tax on employer provided assets and computers
Contractors using company assets for private use must obey HMRC’s rules and pay a benefit in kind (BIK) tax charge, says James Abbott of Abbott Moore.
BBC confirms its commitment to ditching limited company contractors and freelancers
Limited company contractors working in on-air roles for the BBC face a new employment test the broadcaster admits is designed to cut their numbers.
Retrospective tax-reducing strategies for contractors who overpaid in previous years
Contractors can adopt tax strategies that may reduce their tax liability arising from previous financial years, says Abbott Moore’s James Abbott.