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If the Government is serious about ‘embedding simplification’ in the UK’s tax policy-making process it should retain the Office of Tax Simplification (OTS) and consider strengthening it, the Chartered Institute of Taxation (CIOT) has told the Chancellor.
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Reports that the new Prime Minister plans to reform the education system and make the UK more attractive to highly skilled non-UK nationals have been welcomed by agency representative body, APSCo.
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While the contractor community tears its metaphorical hair out over the Government's U-turn which saw the proposed repeal of the controversial IR35 off-payroll regulations reversed, one international law firm can see a small silver lining in this particular cloud.
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The Government has been slammed as 'spineless' after its multiple mini-Budget U-turns included the decision to repeal the IR35 reforms.
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While the political fall-out from the controversial mini-Budget continues, a further measure has been announced which means that small businesses have just become bigger.
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The Chancellor has announced some good news about IR35: "IR35 rules will be simplified, with 2017 and 2021 reforms repealed."
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The Mini-Budget announcement to scrap the controversial and unpopular off-payroll IR35 reforms of the past few years was seen by some as replacing one problem with another.
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The so-called 'Mini-Budget' had more significant measures than many full-scale Budgets, including a commitment to scrap the controversial IR35 off-payroll reforms of recent years.
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New research shows that freelancers’ confidence in the UK economy for the next 12 months has fallen sharply from -27.4 in Q1 2022 to -56.7 this quarter. This represents the lowest level of freelancer confidence in the economy since the early days of the pandemic in Q1 2020.
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The President of the Chartered Institute of Taxation (CIOT) has called on the new UK Government to invest to improve HMRC’s 'unacceptable service' levels.
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