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Shout99 - the network for freelancers
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Small business representatives are urging the Government to scrap its plans to give new powers to HM Revenue and Customs (HMRC) to recover outstanding debts directly from small business’s bank accounts.
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HM Revenue and Customs (HMRC) is giving around 16,000 users of a 'contractor loans scheme' the opportunity to pay the tax they owe or risk facing bigger tax bills and heavy legal costs.
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A recent tax tribunal case has shed some light on how the control test in the new ‘false self-employment’ legislation, which applies from April 2014, may be interpreted by the courts. This legislation amended is known as ‘the agencies tax legislation’.
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As the schools holidays begin and signal the start of mass exodus to foreign climes, it appears that small business owners choose their holiday destinations and times with their minds still focused on their work responsibilities.
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An accountancy firm says it has experienced a flurry of requests for IR35 reviews from public-sector contractors in recent weeks and has attributed the sudden increase in demand to fresh controversy over the use of ‘off-payroll’ arrangements within the NHS.
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HM Revenue and Customs has filed 4,147 winding-up petitions in the courts in the last year in a hard-line bid to recover unpaid tax from businesses - an increase of 11 per cent on the previous year when it submitted 3,733.
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MyCo has been doing well over the last few years so it is accruing monies which I don't need to spend just yet. As I see it MyCo pays the CT on the profit but I don't take the dosh - why pay 40% income tax on it to put it in an ISA @1.8% interest? Are there any rules or limits on doing this?
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Shadow Business Minister, Ian Murray MP, has backed a nationwide search for the UK’s best self-employed professionals.
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Self-employed people should buck the trend for pay stagnation over the next 12 months as day rates for freelancers are expected to rise, according to data from the latest Freelance Confidence Index.
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Reports that business confidence is now at its highest level in 20 years have been borne out by the latest late payment analysis from Lovetts Plc, the commercial debt recovery law firm.
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