Gig Workers To Be Taxed At Source In Ireland?

According to The Times, Ireland’s Revenue wants to tax workers in the gig economy as soon as they are paid.  These workers obtain their gigs through online platforms and apps such as Deliveroo and Uber, and the platforms would be responsible for deducting tax on each transaction before workers receive their pay. Under the plan, […]

037 What to do if HMRC investigate?

No-one wants to have their finances investigated by HMRC, but it can happen to any self-employed person even if they have done nothing wrong.  So what do you do if you find yourself in that position, and how do you know being investigated anyway?  These are just some of the questions we asked the brilliant […]

Self Assessment Late Payment Costs Increase

As HMRC interest rates are linked to the Bank of England base rate, the increase in the base rate from 0.25% to 0.5% on 3 February 2022 has triggered an increase in rates for late payments. HMRC have confirmed that late payment interest rates will increase from 21 February 2022. This means that anyone that […]

Umbrella Workers – Check Your HMRC Record!

Important guidance released from HMRC – anyone working through an umbrella should check both their payslip and personal tax account to ensure that HMRC is receiving appropriate tax and NICs. This advice in itself is not new news (we have recommended these steps for years), but it is the first time HMRC has issued such […]

Most Mid-Sized Businesses Complacent About IR35

A recent survey conducted by BDO found that 55% of SMEs say they will worry about off-payroll reforms when businesses return to a more normal footing post-COVID.  As a reminder, new legislation came into effect in April 2021 which now means that businesses engaging contract workers through a personal service company (e.g. Joe Bloggs Limited) […]

Proposed Change To Self-Employed Accounts Should Be Dropped

In line with our position here at IWORK, the Institute of Chartered Accountants in England and Wales (ICAEW) has argued that HMRC’s proposal to change how self-employed people manage and pay their tax should be dropped. The proposal would replace the ‘current year basis’ method for establishing taxable profits / allowable losses with a ‘tax […]

Latest Loan Charge Case Ignores Moral Justice

The latest development in the Loan Charge debacle has ignored moral justice, instead finding in HMRC’s favour, further illustrating the fundamental unfairness of this flawed government policy. The High Court considered a judicial review where a taxpayer repaid loans which were due to be within the scope of the Loan Charge, and the repayment was […]

Banks To Share Your Financial Information With HMRC

The Office of Tax Simplification has published a report outlining how third party data, including information from your bank, could be shared with HMRC in order to assist tax payers with their annual self-assessment tax returns.  Information that could be shared includes: Bank and building society interest Other interest Pension contributions Dividends and other investment […]

Tax Year-End To Be Moved?

The UK’s tax year for individuals runs from 6 April to the following 5 April, and the government is now considering whether it would be sensible to move the date.  The Office of Tax Simplification (OTS) has been tasked with reviewing the pros and cons of changing the date to either 31 March or 31 […]