Those who work in the public sector will be only too well aware of the additional scrutiny on the use of freelancers and how they operate their tax affairs.
Over the last year, we have received calls from clients who have been asked to provide assurances about their IR35 status and tax affairs.
Our advice has been:
- Ensure your contracts are reviewed for IR35 – we would suggest this is carried out by independent expert providers rather than using the HMRC helpline and,
- Assuming this review concludes they are operating outside of IR35 – then using a mixture of salary and dividends for extracting funds out of a limited company remains a robust and effective mechanism for achieving tax efficiency.
What happened in the Autumn Statement 2016?
Posted by Kath Docherty
on February 02, 2017 / Posted in Contractors
What is it all about?
This ruling by the Revenue attempts to capture tax lost whereby individuals have set themselves up as Limited Companies supplying services but in reality are performing a task for a client in a manner similar to being an employee.
Travelling and subsistence expenditure incurred by or on behalf of employees gives rise to many problems.
We highlight below the main areas to consider in deciding whether tax relief is available on travel and subsistence. Read More
From 6 April 2016 all companies are required to keep a register of people with significant control (PSC register) and, from 30 June 2016, file relevant information at Companies House. This requirement is in addition to those in respect of existing registers.
The requirement to keep a PSC register has been introduced with the objective of increasing transparency over control and ownership of UK companies. However, this places additional obligations on companies, their officers and the people with significant control over them.