HMRC Ring the Changes this December

HMRC Changes

December brought with it, along with no doubt copious amounts of pudding, roasts and chocolates, a number of changes within the contracting community. HMRC shook things up a bit, as seen below.

  • RTI penalties clarified.
  • Autumn Statement announces that 'Controlling Persons' proposals to be abandoned but IR35 legislation to be extended from 06.04.13 to catch 'office holders'. Also, there is to be a consultation on public procurement as part of the measures to tackle tax avoidance.
  • Statutory Residence Test guidance published.

IR35 Rules

For the first time in a decade, and to the surprise of many, during the recent autumn statement the Government changed the IR35 rules.  Panic and confusion seems to follow any statement made by HMRC and the tax office regarding contractor tax, but this recent change certainly added a new level of commotion. Although this marks a pivotal point regarding the legislation and Government involvement, the changes brought about in the Chancellor George Osborne’s statement only actually apply to a small number of UK contractors.

By:Steven Bailey

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