RTI to be relaxed for micro-business

Posted on 15 Jan 2014 in Business, Finance, News

RTI to be relaxed for micro-business

Real Time Information (RTI) reporting requirements are set to be eased for micro-business owners, HMRC has announced. Until April 2016, HMRC has agreed that firms with nine or fewer employees that pay their staff weekly or more frequently can send information monthly or by the date of their regular payroll run, but no later than the last payday of the month. The relaxation only applies to firms that are already trading. The announcement follows an existing relaxation of the...

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IR35 investigations triple over past year

Posted on 15 Jan 2014 in Business, Finance, News

IR35 investigations triple over past year

HMRC opened 256 new IR35 investigations into consultants and freelancers in 2012/13, up from just 59 in 2011/12, according to official figures. HMRC revealed that the majority of cases it had investigated concerned high-risk and “wilfully non-compliant” companies i.e. where all their contracts would fall within the scope of IR35. Robin Wythes, HMRC Employment Status Team Leader, explained that HMRC is now “trying to see IR35 from the view of the...

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Consultation on paperless self assessment launched

Posted on 15 Jan 2014 in Business, Finance

Consultation on paperless self assessment launched

A consultation on paperless self assessment (SA) has been opened by HMRC as part of its Digital Strategy published in December 2012. The consultation, which closes on 27th December 2013, is seeking views on planned changes to legislation that will enable HMRC to provide a paperless service, sending communications to taxpayers electronically instead of by post. Only around a quarter of HMRC’s dealings with taxpayers are online, although the majority of taxpayers...

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IR35 Investigations on the Increase

Posted on 4 May 2013 in Business, Finance, Information

The number of IR35 investigations carried out by HMRC tripled in the seven months to April 2012, according to research by legal publisher Bloomsbury Professional. The research revealed that enquiries into contractors suspected of disguised employment activity increased from 59 in the previous tax year to 193 in the first half of the current tax year. However, the research also found HMRC has been unable to find any compliance failures. Martin Casimir, Managing Director of...

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