George Osborne recently expressed shock when he discovered that Britain’s wealthiest citizens are not paying their fair share of income tax.
Review Period: Nov 2014
Contractor accountants may be interested to learn that a plumber from the West Midlands was recently sentenced to 12 months in jail for tax evasion.
Contractor accountants will be interested to learn that HMRC launched its Electricians Tax Safe Plan last week to enable sparkies who may have been guilty of tax evasion the chance to rectify matters in return for reduced penalties.
Contractor accountants may be interested to learn that HMRC is to target people in the construction trade and those who make revenue from hand-delivered home catalogues in their latest set of campaigns to stamp out tax evasion.
Accountants will be well aware that today is the final day for submitting online self-assessment tax returns and paying the income tax due to HMRC for the financial year ending April 2011.
Contractor accountants who did not enjoy a rate increase last year may take solace from the fact that a large majority of permanent employees either did not receive a pay rise or had their salary cut in 2011.
A new survey from Robert Walters shows that 50% of accountants have received a salary increase this year. Of those who have seen their salary rise, 41% received an increase in excess of 5%.
Contractor accountants may be interested to learn that a new iPhone app has been released to help the self-employed keep track of their expenses.
Contractor accountants could be forgiven for questioning whether it is really worth HMRC spending so much time and money pursuing IR35 cases when they discover it yielded just over £200,000 from its enquiries last year.
Small businesses could be deterred from using contractor accountants when the Agency Workers Regulations are implemented next month.