Vince Cable has unveiled the measures which will be introduced by the government in their bid to tackle red tape faced by small business and third sector organisations. The government are aiming to change the interaction between themselves and these businesses. They are already encouraging people to become involved by nominating legislation which needs to be reviewed on the ‘Your Freedom’ site which was launched by Nick Clegg.
HMRC have confirmed that they will be employing the services of four debt collection agencies over the coming year as part of their programme to recover £140 million of debt from both companies and individuals.
Cuts in the public sector have led to a reduction in the number of contract positions available according to the most recent analysis from the Recruitment and Employment Confederation (REC) in their Report on Jobs.
The Office of tax Simplification (OTS) has been set up to review tax systems and tax reliefs. It aims to put forward proposals to the government by the Budget next year for simplifying or replacing IR35 and other complicated and contentious tax rules. This has been supported by the REC who have written to the OTS to support plans to replace IR35 as this has been an area of particular interest for such REC groups as the Technology Sector Group and the Interim Management Association (IMA).
David Cameron’s administration is expected to ditch the default retirement age as early as October next year. At present, when an individual reaches retirement age they can be asked by their employer to retire even if they would prefer to keep working.
HMRC are currently tackling tax avoidance by a variety of measures. They are also working their way through the 18 million cases where the incorrect amount of tax has been paid – some under and some over. It is estimated that overall taxpayers have overpaid more than £3bn to HMRC. It is expected that umbrella contractors, limited company contractors and freelancers are amongst those who will be due money back.
David Gauke, Exchequer Secretary to the Treasury, has released nine separate documents which relate to tax. These documents are for discussion and consultation with the aim of providing individuals and businesses with the opportunity to have their say on the proposed tax reforms being initiated by the new government.
Crystal Umbrella welcome the proposed changes to NMW regulations as of January 2011.
Obviously, any increase in NMW is a good thing for the temporary labour market. Not only will it go a long way in protecting the vulnerable sectors of the temporary labour market, but it will also allow them to receive full entitlement to [...]
The working practices of the chief information officer at HMRC have been called into question. Deepak Singh was employed by Revenue and Custom’s for three years ending
As HMRC increase the number of investigations into those contractors operating through limited companies or as sole traders, it is recommended that such individuals seek specialist accountancy advice. HMRC have pledged to seize an extra £4 billion through investigations. UHY Hacker Young have predicted that £16.1 billion will be seized overall due to HMRC’s “more aggressive stance” throughout this tax year.
