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25 July 2012

HMRC unveil plans to force businesses to operate PAYE on freelancers

on Wednesday, 25 July 2012.

HMRC came under fire recently when it disclosed that over 20,000 of its workers supplied their services through limited companies, and therefore avoided PAYE/NIC.

In this month’s Tax News we set out proposed legislation that will force many businesses to account for PAYE on fees paid to senior workers who provide their services via limited companies.

27 June 2012

Abolition of ESC C16 restricts capital treatment in DIY company wind-ups

on Wednesday, 27 June 2012.

Where a company is closed down without using a liquidator it used to be possible to get capital treatment on distributions to shareholders using Extra Statutory Concession C16.

In this month’s Tax News we set out the new rules which only allow capital treatment (and Entrepreneurs Relief!) where reserves distributed in a DIY winding-up are no more than £25k.

31 May 2012

HMRC publish pilot business entity tests to combat IR35

on Thursday, 31 May 2012.

On 9 May 2012 HM Revenue & Customs published its pilot business entity tests which are designed to allow businesses to ‘self-certify’ their IR35 status.

In this month’s Tax News we look at the new points system being piloted which, if left unchanged, could bring many companies previously on the fringes firmly within IR35.
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