PROFESSIONAL PASSPORT
|
|
- Gillian Robertson
- 5 years ago
- Views:
Transcription
1 PROFESSIONAL PASSPORT RESPONSE TO HMRC CONSULTATION DOCUMENT EMPLOYMENT INTERMEDIARIES AND TAX RELIEF FOR TRAVEL AND SUBSISTENCE 25TH SEPTEMBER 2015
2 Contents CONTENTS About Professional Passport Executive Summary Learning - The application of the tests in construction Hard Data - Revealing the facts Legislation - The existing legislative framework Reactions - For every action there is an equal and opposite reaction
3 ABOUT US PROFESSIONAL PASSPORT About Us Professional Passport Professional Passport is a specialist organisation that works across all sectors of the temporary workers market providing support and direction to companies seeking to operate with robust compliance. Since our formation in 2007, we have looked to raise the levels of compliance across the temporary workers market both in awareness and application. Our work with end clients, recruitment companies, service providers and contractors provides us with a unique view and understanding of the market. An important part of the work we do is to formally assess the processes and procedures of services providers operating in the umbrella and accountancy services sector. Where a provider successfully meets our required standards, confirmed by an extended visit to their offices to fully evidence the correct operational processes in application, they become an Approved Provider of Professional Passport and their name is added to our Approved Provider listings. Whilst there are a number of organisations that offer compliance assessments Professional Passport remains the most widely accepted, recognised and trusted assessment of provider compliance in the market. Our current Approved Provider listings are made up of 22 umbrella providers, 3 CIS gross status umbrella providers and 18 accountancy service providers; representing more providers than any other available standard. Professional Passport also works closely with recruitment sector trade bodies APSCo, the Association of Professional Staffing Companies, and TEAM, The Employment Agents Movement. APSCo and TEAM require any service provider, who wishes to promote their services to their recruitment company membership, to have undergone and passed one of a number of compliance assessments before they will be accepted as affiliate members. Professional Passport assess more of the service providers for these bodies than the other offerings put together. In recent years we have seen a dramatic increase in the numbers of payment intermediaries coming in to the market, many looking to offer an umbrella service. The knowledge and application of the required operational processes and procedures was low as there was no trusted reference points for those seeking to operate compliantly. For this reason we wrote The Compliant Umbrella Providers Operational Handbook. This manual was designed to create a benchmark standard for compliance and has been invaluable in raising the understanding and application of compliance in the sector. We have supplied a number of copies of this book to HMRC officials and we would happily supply further copies if HM Treasury would find it of use in this review.
4 ABOUT US PROFESSIONAL PASSPORT In setting the standards across the sector Professional Passport has taken a clear and transparent approach. We publish regular Newsletters to support this approach. Provider Newsletters Our provider newsletter is available to all our approved providers and clearly sets out our views and position on new emerging models entering the market. It also updates the providers on any required changes to operational processes and procedures to ensure ongoing compliance. Agency Newsletters Our agency newsletters are designed to inform recruiters on emerging models and associated risks as well as update on new legislation impacting the sector. These are subscribed to by over 2,000 individuals. Contractor Newsletters These are aimed at our contractor membership and are sent to over 12,000 subscribers. They are designed to inform and educate contractors on the available structures and associated risks. Our newsletters and guides help support our clear and transparent approach to compliance and assist workers in making informed choices. Professional Passport was the first of the compliance assessment standards to refuse to assess any provider who operated, or had any form of association to, Pay Day by Pay Day models, prior to HMRC s statement expressing their views. We were also the first to refuse to assess any provider offering a selfemployed payment intermediary solution in the general contracting marketplace; long before HMRC published the consultation paper. We refused to assess any organisation seeking to use contrived LLP structures within their service offerings, once again before these rules were changed. We have never worked with any provider offering tax avoidance or offshore arrangements. The consistency and clarity of messages has resulted in us becoming the trusted compliance assessment of choice for hundreds of recruitment companies. These recruitment companies rely upon our Approved Providers for the delivery of services to the appropriate workers. This results in a commercial advantage to our approved providers for demonstrating high levels of compliance. We have worked closely with HMRC throughout in both highlighting, informing and addressing some of the issues that have emerged in the market.
5 ABOUT US PROFESSIONAL PASSPORT We are now seeing end client awareness rising on the issue of supply chain compliance and we have a number of end clients that insist their recruitment partners can only accept workers through companies that have passed the Professional Passport compliance assessment. Professional Passport has pro-actively campaigned since formation for a more level playing field for the providers that seek to operate compliantly as in many cases they have consistently operated at a commercial disadvantage. This has included issues such as: Tax Avoidance Offshore Payment Intermediaries Pay Day by Pay Day Dispensations Expenses Margin and Fee Deductions IR35 Whilst progress has been made in some areas there is still much to do and we welcome any opportunity to become involved in active discussions and debates that are designed to deliver a more level playing field in the market. Should you require any clarification on our thoughts contained within this response document, or wish to discuss any of the ideas in more detail, please feel free to contact us. Crawford Temple, the managing director of Professional Passport is also the Chief Executive Officer of PRISM Association a trade body representing service providers in the sector.
6 Executive Summary EXECUTIVE SUMMARY Professional Passport has been involved in the submission made by PRISM Association and fully agrees and supports the points made within that submission. We would also like to highlight further issues that we believe should be considered fully before pressing ahead with the proposals. The Problem At no point through the consultation process have we been moved from our original position, as we documented in our submission to the Discussion document, that the majority of the shortfall is as a direct result of non-compliant providers in the market; where HMRC has defined the parameters of compliance. We believe a simple,fast and effective approach would be to amend the existing legislation framework, specifically National Minimum Wage Regulations and the liability clause within the Onshore Employment Intermediaries Legislation to ensure that Pay Day by Pay Day and The Elective Deductive Model providers are prevented from operating as they do now, as well as restricting their access to the market. All the evidence that we have indicates that this would address a significant part of the identified tax shortfalls. By protecting the majority of the identified tax revenues through these amendments a detailed review of the market could be carried out, supported fully by the new data coming in as a result of the agency reporting. This would then allow time to fully discuss and agree a robust framework for compliance going forward. Postpone Subject to Review Where amendments were made to secure the majority of the at risk tax revenues, as we have described above, would suggest postponing the broadening of these tests. We would suggest a full review and investigation is carried out in the construction sector, as the tests have been in application for 18 months in this sector. This review could highlight what has worked well, what has worked less well and what changes need to be made. The result would be a more robust set of rules based on market application and if still considered necessary the newly amended rules could be extended across the whole market. We would also propose that this reviews aligns to work currently underway with BIS and OTS as well as a wide reaching review of existing legislation across the sector with a view to simplifying and removing many of the sticking plasters that have had to be applied to address unintended consequences.
7 EXECUTIVE SUMMARY Insured Solutions We are already seeing the emergence of insured solutions arriving in the construction sector. Many of these are claiming full protection against a successful HMRC challenge to SDC status and cover both tax and penalties. The lessons that can be drawn from both IR35 and factors that drove The Managed Service Company legislation is that where insurance is offered to cover tax and penalty liabilities over time it undermines the correct application of the rules. We believe that many of these insurances rely on the lack of resources HMRC has to carry out effective enforcement and mount significant challenges. These offerings will create significant market distortions and if left unchecked will provide further commercial advantages to those seeking to circumvent the rules. Construction Sector The rules have been in application for 18 months in the construction sector. During this time we have seen significant variances in their application with smaller companies being given commercial advantage over larger organisations that are attempting to apply the rules as intended. The commercial reality is that large organisations will always have to take a risk adverse approach in making the assessments. During round table events questions were asked by construction sector companies providing real world examples of situations they are asked to assess. HMRC were unable to provide answers and suggested that further guidance could be issued. This lack of certainty on the outcome of the tests is creating market distortions that provide significant advantages to companies that are not applying the tests as originally intended with larger businesses, or smaller companies that are trying to comply, suffering. Fast and effective compliance enforcement A point made by almost every construction sector firm at events was that there has been a complete lack of support or enforcement from HMRC in ensuring the tests are applied consistently across the market. Whilst HMRC are unable to comment directly on compliance activity what must be recognised is that the current structure fails to work in the modern business world. The length of time from enforcement to action is, as stated by HMRC, 4-5 years. Where HMRC push responsibility to assess outcomes of tests coupled with liabilities where these are later found to be incorrect this does not reduce HMRC compliance enforcement requirements it does the opposite. Without visible, fast and effective enforcement non compliance increases and the compliant providers are faced with a stark choice; accept the loss of business or weaken the application of tests.
8 EXECUTIVE SUMMARY The situation we are seeing emerge in the construction sector is almost exactly the same situation that has allowed non compliant payment intermediaries grow their businesses unchecked and create market distortions that the current proposals seek to address. Without a fundamental review of HMRC enforcement non compliance will increase if these rules were extended across the market. Advisory List and guidance During presentations and events HMRC made it clear that, in their opinion, there were a number of occupations and sectors that would always be caught. Whilst this in principle would help, what we have seen in construction is that many of the assessments fall on the cautious end of the scale. We believe that more detailed guidance in construction is required on occupations that would be considered as and as a result we would developing a list where HMRC feels occupations are outside of the SDC test. It was clear through these events that the construction sector needs more detailed guidance on situations where it was felt SDC would not apply. Summary We believe that if these proposals are followed through they will create significant market distortions that would provide commercial incentives to those that failed to apply the rules as intended. The volume of change as a result of the combination of the Finance Bill and these proposals will result in confusion in the market, perfect for the non-compliant providers. The overall result will be HMRC missing their targeted tax revenues, an increase in non-compliance and many compliant businesses suffering to the point that they either cease to exist or have to change their models to less robust versions in order to survive. With no reference to enforcement and how the current structure will be changed to provide a much faster response, more aligned to the speed that modern businesses move and adapt, non-compliance has a 3-4 year window of opportunity. These proposals represent a step backwards for the market and compliance based solely on an increased tax take that is very unlikely to happen.
9 LEARNING THE APPLICATION OF SDC IN CONSTRUCTION Learning The application of SDC in construction A review of the construction sector where the proposed tests have been in application for 18 months shows that significant market distortions are occurring. This appears to be for a number of reasons: The difficultly in accurately assessing an outcome The liabilities that result of an incorrect assessment Assessments being made on risk adverse basis by many businesses resulting in many workers gaining false employment New companies emerging that are not applying the tests robustly but gaining significant commercial advantages Emergence of insured solutions creating further market distortions Lack of immediate enforcement by HMRC to redress the balances where market distortions appear Companies trying to apply the tests are being disadvantaged as the tests are complex, vague and lack certainty meaning it is difficult for those companies trying to apply them as intended to do so with enough confidence to mitigate the risks. This suggests that a review of the tests should be carried out before their reach is extended. This review would allow a common set of workable tests could be applied across all sectors which seems to be one of the intentions. Applying the same tests and expecting a different outcome in market conditions and reaction is fool hardy. As we stated in all our previous communications this will still need to be supported by an effective enforcement regime that has the ability to act swiftly to address any market distortions or unintended consequences.
10 HARD DATA REVEALING THE FACTS Hard Data Revealing the facts As the new agency reporting is now in place we would suggest an analysis of this data is carried out to identify the current make up of the market. We are certain that this analysis will support our conclusions that there is a significant market share operating through PDPD providers. It will also help identify those companies that have a significantly high volume of self-employed workers engaged suggesting, on the surface of it, that closer inspection is required. We believe that any development or extension of these tests should only be considered once the full facts are known and understood. This analysis will also allow HMRC the time to consider their compliance activity that will be required to ensure the level playing field is achieved, which has not been the case so far.
11 LEGISLATION THE EXISTING COMPLIANCE FRAMEWORK Legislation The existing legislative framework The current shape of the market and the issues this consultation seeks to address are a direct result of the lack of compliance activity to address non compliance in the market. HMRC are unable to comment on their activity but what we see are providers who have been disregarding the rules for many years and still openly marketing and operating as they have done previously. This suggests that if HMRC has high compliance activity it is ineffective and outdated in the modern business environment where companies can change, adapt or reinvent themselves overnight. HMRC has many powers available to them to prevent these situations, for example security notices, and we would suggest a review of how these can be utilised more effectively in the market. The introduction of RTI also provides an important tool and should highlight many arrangements that appear to be incorrect, as does the new agency reporting requirements. HMRC needs to be put in a position that allows them to act swiftly to address market distortions, unintended consequences and non compliance. Without the application of rules being enforced the rules become meaningless and provide windows of opportunities to those that are prepared to disregard them. Re-billable / chargeable Expenses An area that needs specific guidance is where a worker can reclaim some of their expenses back from the recruitment company or end client. Whilst the responsibly run providers operate this area correctly we see many variations and interpretations including recruitment companies paying the expenses directly back to workers without umbrella companies knowing as well as payment intermediaries paying them directly to workers without any application or consideration of PAYE implications. With the new employer expense rules together with the changes in the Finance Bill this is an area that needs to be clarified to ensure clarity and consistency of approach.
12 REACTIONS FOR EVERY ACTION THERE IS AN EQUAL AND OPPOSITE REACTION Reactions For every action there is an equal and opposite reaction We believe that a broader review of the legislation applying to the sector is carried out. Many of the layers of complexity in the legislation are as a direct result of attempting to address unintended consequences resulting from a previous change. We believe that market has now matured to a point where it is possible to create a long term strategic plan and simplify many of the layers that currently exist. We would suggest this review is carried out by The Office of Tax Simplification, as it seems to align with their objectives perfectly, and it should extend beyond just the tax aspects and include BIS as they are responsible for the agency regulations. By having the OTS carry out the review the findings could also help inform many of the other areas they are currently looking in to and remove the seemingly endless discussions and consultations currently being issued. This would create a more joined up approach, something that seems to be lacking at present.
13
THE BENEFITS OF USING A SPECIALIST CONTRACTOR ACCOUNTANT
THE BENEFITS OF USING A SPECIALIST CONTRACTOR ACCOUNTANT kingsbridge.co.uk 01242 808 740 info@kingsbridge.co.uk IT S IMPORTANT TO ENSURE YOU HAVE YOUR BUSINESS FINANCES IN CONTROL, WITH THE HELP OF A SPECIALIST
More informationResponse to HMRC Consultation document issued 18 May 2018
Response to HMRC Consultation document issued 18 May 2018 Off-payroll working in the private sector Contents I. About Johnston Carmichael II. Summary III. Response to Consultation Questions IV. Conclusions
More informationEmployment Intermediaries; Temporary Workers relief for travel and subsistence expenses. Alan Nolan
Employment Intermediaries; Temporary Workers relief for travel and subsistence expenses Alan Nolan Introduction to Aspire Aspire was formed in April 2009 based in Barnt Green, Birmingham. Four distinct
More informationOff Payroll Working in the Public Sector Channel 4 response
Off Payroll Working in the Public Sector Channel 4 response Executive summary Channel 4 has a unique status as a publicly-owned, commercially-funded, not for profit, public service broadcaster. Its unique
More informationHMRC Consultation Document Tackling Offshore Tax Evasion: A Requirement to Correct Response by the Chartered Institute of Taxation
HMRC Consultation Document Tackling Offshore Tax Evasion: A Requirement to Correct Response by the Chartered Institute of Taxation 1 Introduction 1.1 This is the latest in a series of consultations by
More informationAAT RESPONSE TO THE HMRC CONSULTATION ON EMPLOYEE BENEFITS AND EXPENSES EXEMPTION FOR PAID OR REIMBURSED EXPENSES
AAT RESPONSE TO THE HMRC CONSULTATION ON EMPLOYEE BENEFITS AND EXPENSES EXEMPTION FOR PAID OR REIMBURSED EXPENSES 1 EXECUTIVE SUMMARY 1.1 The Association of Accounting Technicians (AAT) is pleased to comment
More informationAutomatic enrolment to workplace pensions
Report by the Comptroller and Auditor General Department for Work & Pensions Automatic enrolment to workplace pensions HC 417 SESSION 2015-16 4 NOVEMBER 2015 4 Key facts Automatic enrolment to workplace
More informationAre you ready for the 'big five'?
Are you ready for the 'big five'? 1 April 2015 Mark Groom looks at some expected changes to employment taxes What is the issue? A number of significant employment tax changes are being introduced this
More informationAAT RESPONSE TO THE HMRC CONSULTATION ON EMPLOYEE BENEFITS AND EXPENSES TRIVIAL BENEFITS EXEMPTION
AAT RESPONSE TO THE HMRC CONSULTATION ON EMPLOYEE BENEFITS AND EXPENSES TRIVIAL BENEFITS EXEMPTION 1 EXECUTIVE SUMMARY 1.1 The Association of Accounting Technicians (AAT) is pleased to comment on the issues
More informationLouise Rayner presents to RI - re T&S solutions, SDC Tests, PSC s IR35 & Public Sector 21 March Apr-16 1
Louise Rayner presents to RI - re T&S solutions, SDC Tests, PSC s IR35 & Public Sector 21 March 2016 22-Apr-16 1 Who are NumberMill Consulting? QUALIFIED PRACTICING COMPLIANCE CONSULTANTS Practical Honest
More informationThe intention of the rules is to tax most of the income of the company as if it were salary of the person doing the work.
IR35 Personal Service Companies The IR35 rules are designed to prevent the avoidance of tax and national insurance contributions (NICs) through the use of personal service companies and partnerships. The
More information1 Executive Summary. s. 65 ITEPA UK REPRESENTATIVE BODY ON THE CONFEDERATION FISCALE EUROPEENNE
Employee Benefits and Expenses exemption for paid or reimbursed expenses HM Revenue & Customs (HMRC) consultation document Response from the Low Incomes Tax Reform Group (LITRG) 1 Executive Summary 1.1
More information1 Executive Summary. CHARTERED INSTITUTE OF TAXATION 1st Floor, Artillery House, Artillery Row, London, SW1P 1RT
HM Revenue & Customs (HMRC) consultation document Employment Intermediaries and Tax Relief for Travel and Subsistence Response from the Low Incomes Tax Reform Group (LITRG) Executive Summary. We welcome
More informationEmployer Review. The latest tax, payroll and employee reward topics for employers Autumn Employer update. HR update.
Employer Review The latest tax, payroll and employee reward topics for employers Autumn 2016 In this newsletter: P04 Proposed changes P01 Employer update P04 Payroll update P01 HR update P05 Construction
More informationIR35 PERSONAL SERVICE COMPANIES
IR35 PERSONAL SERVICE COMPANIES IR35 Personal Service Companies The IR35 rules are designed to prevent the avoidance of tax and national insurance contributions (NICs) through the use of personal service
More informationStamp Taxes on Share Consideration Rules. Response by the Chartered Institute of Taxation
30 Monck Street London SW1P 2AP T: +44 (0)20 7340 0550 E:post@ciot.org.uk Stamp Taxes on Share Consideration Rules Response by the Chartered Institute of Taxation 1 Introduction 1.1 We refer to the consultation
More informationHM REVENUE & CUSTOMS SECURING COMPLIANCE WITH REAL TIME INFORMATION LATE FILING AND LATE PAYMENT PENALTIES. Response by
HM REVENUE & CUSTOMS SECURING COMPLIANCE WITH REAL TIME INFORMATION LATE FILING AND LATE PAYMENT PENALTIES Response by THE SOCIETY OF PROFESSIONAL ACCOUNTANTS 6 September 2012 PETER J D MITCHELL, FCA,
More informationAssociation of Accounting Technicians response to Intermediaries Legislation (IR35) Discussion Document
Association of Accounting Technicians response to Intermediaries Legislation (IR35) Discussion Document 1 Association of Accounting Technicians response to Intermediaries document (IR35) discussion document
More informationTravel and subsistence survey
Travel and subsistence survey Executive summary As a response to an Office of Tax Simplification report, HM Treasury (HMT) and HMRC are reviewing the legislation and guidance which applies to the taxation
More informationHMRC and HMT Consultation Document: Taxing Gains Made by Non-Residents on UK Immovable Properties
James Konya NRCG Consultation HM Revenue & Customs Room 3C/04 100 Parliament Street London SW1A 2BQ 15 February 2018 Dear James HMRC and HMT Consultation Document: Taxing Gains Made by Non-Residents on
More informationConsultation response by KPMG LLP Tax and administrative treatment of short term business visitors from overseas branches
Consultation response by KPMG LLP Tax and administrative treatment of short term business visitors from overseas branches Contents 1 Introduction and executive summary 1 2 Our response to the consultation
More informationEmployee Benefits and Expenses exemption for paid or reimbursed expenses. Response by the Chartered Institute of Taxation
Employee Benefits and Expenses exemption for paid or reimbursed expenses Response by the Chartered Institute of Taxation 1 Introduction and Summary 1.1 The Chartered Institute of Taxation (CIOT) sets outs
More informationEmployer Review. The latest UK and international payroll, benefit reporting, pension and employee reward topics for employers.
Employer Review The latest UK and international payroll, benefit reporting, pension and employee reward topics for employers Autumn 2017 In this newsletter: P01 Changes on the horizon for employment status
More informationFurther written evidence submitted by the Chartered Institute of Taxation (Clauses 50-52) (FB02d)
Further written evidence submitted by the Chartered Institute of Taxation (Clauses 50-52) (FB02d) VAT Clauses 50-52 Executive Summary Clause 50 is designed to give the government the flexibility to amend
More informationCUK Insider s Guide to IR35
The UK's most visited IT Contractor Site - Online since 1998 CUK Insider s Guide to IR35 Compiled with from advice from Ray McMahon, ex Tax Inspector Contents: What is IR35? 2 How will I know if I m caught
More informationIntroducing ICS Umbrella
Introducing ICS Umbrella ICS Umbrella provides contractors with all the benefits of being an employee by employing them whilst working on a temporary or contract basis. Our market-leading solution enables
More informationSTEP BY STEP GUIDE TO BECOMING A CONTRACTOR
STEP BY STEP GUIDE TO BECOMING A CONTRACTOR EVERYTHING YOU NEED TO KNOW ABOUT BECOMING A CONTRACTOR BROKEN INTO SIMPLE STEPS CONTENTS 1. Who are we?... 3 2. What exactly is a contractor?... 4 3. Deciding
More informationDraft legislation: Simplification of PAYE Settlement Agreements Response from the Low Incomes Tax Reform Group (LITRG)
Draft legislation: Simplification of PAYE Settlement Agreements Response from the Low Incomes Tax Reform Group (LITRG) 1 Executive Summary 1.1 We welcome this opportunity to comment on the draft legislation
More informationNorthumbrian Water response to Water 2020: consultation on the approach to the cost of debt for PR19
Northumbrian Water response to Water 2020: consultation on the approach to the cost of debt for PR19 Overview We welcome the consultation on the approach to the cost of debt. In preparing this response,
More informationA Guide to Contractor Expenses
A Guide to Contractor Expenses CONTENTS 1. Who are we?... 3 2. What expenses you can claim?... 4 3. Defining a valid business expense... 5 4. Claiming expenses if you re inside IR35... 6 5. The importance
More informationTREASURY SELECT COMMITTEE VAT INQUIRY Issued 29 June 2018
ICAEW REPRESENTATION 74/18 TREASURY SELECT COMMITTEE VAT INQUIRY Issued 29 June 2018 ICAEW (Institute of Chartered Accountants in England & Wales) welcomes the opportunity to respond to the VAT Inquiry
More informationCapital Gains Tax: Payment window for residential property gains. Comments from Saffery Champness LLP
Capital Gains Tax: Payment window for residential property gains Comments from Saffery Champness LLP 6 June 2018 Contents Page 1. Executive summary... 3 2. General points... 3 3. Specific consultation
More informationEMPLOYER ESSENTIALS June 2018
EMPLOYER ESSENTIALS June 2018 Welcome to the June edition of Employer Essentials from BDO NI. In this edition we ll look at off-payroll working in the private sector, share plans, EMI tax reliefs, P11D
More informationAssociation of Accounting Technicians response to HM Treasury Call for Evidence on the Value Added Tax (VAT) Registration Threshold
Association of Accounting Technicians response to HM Treasury Call for Evidence on the Value Added Tax (VAT) Registration Threshold 1 Association of Accounting Technicians response to HM Treasury Call
More informationOrange Genie Cover Limited BUSINESS EXPENSES POLICY
Orange Genie Cover Limited BUSINESS EXPENSES POLICY Page 1 of 7 Overview Workers employed by Employment Intermediaries such as Umbrella Companies cannot claim for travel and subsistence costs as expenses
More informationTechnical changes to automatic enrolment
Technical changes to automatic enrolment Introduction NEST 1 welcomes the recent Department for Work and Pensions (DWP) consultation on technical changes to automatic enrolment as evidence that the government
More informationDisclosure of costs, charges and investments in occupational pensions
Disclosure of costs, charges and investments in occupational pensions Response from NEST Corporation Executive summary We re pleased to contribute this response to the Department for Work & Pension s (DWP)
More informationIR35 has been around since 2000 and uncertainty over its application has never gone away and arguably has never been greater!
No single key 1 July 2018 Michael Steed reviews the state of play in respect of the uncertain application of this piece of legislation with a parachutist s view of where we are now What is the issue? IR35
More informationTAXATION STRATEGY. The strategy covers all taxes including, inter alia, Corporation Tax, VAT, PAYE and stamp duty.
Executive Summary TAXATION STRATEGY The pages following this summary constitute a formal tax strategy prepared in the context of enabling the Senior Accounting Officer (SAO) to submit to HMRC the annual
More informationATTRIBUTION OF GAINS TO MEMBERS OF CLOSELY CONTROLLED NON- RESIDENT COMPANIES AND THE TRANSFER OF ASSETS ABROAD
TAXREP 53/12 (ICAEW REP 160/12) ICAEW TAX REPRESENTATION ATTRIBUTION OF GAINS TO MEMBERS OF CLOSELY CONTROLLED NON- RESIDENT COMPANIES AND THE TRANSFER OF ASSETS ABROAD Comments submitted on 22 October
More informationAutumn Budget 2017 Webinar. November 2017
Autumn Budget 2017 Webinar November 2017 Introduction With a difficult backdrop to this year s Budget, the Chancellor of the Exchequer has delivered a political budget with targeted giveaways and consultations
More informationPhasing out the Default Retirement Age Response to Department for Business, Innovation and Skills consultative document
Phasing out the Default Retirement Age Response to Department for Business, Innovation and Skills consultative document 1. Executive summary 1.1. Our response to this consultation focuses attention on
More informationDid the cat catch the mouse? Our Autumn Statement predictions true or false?
Did the cat catch the mouse? Our Autumn Statement predictions true or false? were we correct? Public Sector IR35 Review IR35 is certainly the main focus for every Limited Company contractor this Autumn
More informationBritish Bankers Association
PUBLIC COMMENTS RECEIVED ON THE DISCUSSION DRAFT ON THE ATTRIBUTION OF PROFITS TO PERMANENT ESTABLISHMENTS PART II (SPECIAL CONSIDERATIONS FOR APPLYING THE WORKING HYPOTHESIS TO PERMANENT ESTABLISHMENTS
More informationHMRC Consultation: Large Business compliance enhancing our risk assessment approach Response by the Chartered Institute of Taxation
HMRC Consultation: Large Business compliance enhancing our risk assessment approach Response by the Chartered Institute of Taxation 1 Introduction 1.1 This consultation document is examining how HM Revenue
More informationTAX TAX & ACCOUNTANCY & ACCOUNTANCY
TAX & ACCOUNTANCY Open and friendly approach We are local to you, with a free initial consultation. Happy to meet you out of hours too. Up-front pricing Fixed fees, payable monthly, no surprises. Easy
More informationSummer Budget 2015: Implications for charities
Summer Budget 2015: Implications for charities The Chancellor has stated that this Budget is intended to move Britain from a low wage, high tax, high welfare economy to a higher wage, lower tax, lower
More informationAssociation of Accounting Technicians response to HMRC s technical consultation Tackling disguised remuneration
Association of Accounting Technicians response to HMRC s technical consultation Tackling disguised remuneration 1 Association of Accounting Technicians response to HMTC s technical consultation Tackling
More informationAssociation of Accounting Technicians response to the Spring Budget 2017
Association of Accounting Technicians response to the Spring Budget 2017 1 Association of Accounting Technicians response to the Spring Budget 2017 Association of Accounting Technicians (AAT) AAT awards
More informationPensions Post Trustees annual report
January 2012 2014 Pension Plan Pensions Post Trustees annual report Keeping you up to date with our Plan Welcome to the latest issue of Pensions Post. In this issue, we update you on some developments
More informationStepChange Debt Charity response to the Banking Standards Board consultation: What do good banking outcomes look like to consumers?
StepChange Debt Charity response to the Banking Standards Board consultation: What do good banking outcomes look like to consumers? January 2018 StepChange Debt Charity London Office 6th Floor, Lynton
More informationTHE FCA PRACTITIONER PANEL S. Response to HM Treasury s Review of the Balance of Competences:
THE FCA PRACTITIONER PANEL S Response to HM Treasury s Review of the Balance of Competences: Single Market: Financial Services and the Free Movement of Capital - call for evidence 17 January 2014 1 1.
More informationFinance Bill 2016 summary of key changes for fund managers
Finance Bill 2016 summary of key changes for fund managers On 24 March 2016 the Government published the Finance (No. 2) Bill 2016. One of the most relevant aspects of the finance bill for alternative
More informationPAYE, NI and Benefits update. May 2016
PAYE, NI and Benefits update May 2016 Update on current issues Budget Childcare Termination payments Company vans and cars Illegal workers Testimonials Share schemes Intermediaries IR35 Pension advice
More informationIMA consultation response to HMRC s taxation of controlling persons.
IMA consultation response to HMRC s taxation of controlling persons. About the Interim Management Association (IMA): The Interim Management Association (IMA) was founded in 1987 and represents the leading
More informationFATCA - The New UK Landscape
FATCA - The New UK Landscape November 2012 1 FATCA - The New UK Landscape 2 1. Background The term "FATCA" has been in circulation for what seems like a very long time. However, recent developments have
More informationUK issues 2015 Autumn Statement
30 November 2015 Global Tax Alert UK issues 2015 Autumn Statement EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationTAXREP 43/14 (ICAEW REPRESENTATION 112/14)
TAXREP 43/14 (ICAEW REPRESENTATION 112/14) EMPLOYEE BENEFITS AND EXPENSES EXEMPTION FOR PAID OR REIMBURSED EXPENSES ICAEW welcomes the opportunity to comment on the consultation paper Employee benefits
More informationTax Enquiries: Closure Rules Response from the Low Incomes Tax Reform Group (LITRG)
Tax Enquiries: Closure Rules Response from the Low Incomes Tax Reform Group (LITRG) 1 Executive Summary 1.1 We agree that the current closure rules on tax enquiries need to be revisited and updated as
More information18 September General Comments
18 September 2015 BBA response to HM Revenue & Customs (HMRC) Deduction of income tax from savings income: implementation of the Personal Savings Allowance - Consultation document The British Bankers Association
More informationIntroduction. General rules. Lifetime allowance. Transitional protection
Pensions tax rules Introduction Since 6 April 2006 (known as A day ) all pension schemes have been governed by a single set of tax rules that were intended to simplify the legislation. However, since the
More informationCIH Response to: DWP Consultation on Discretionary Housing Payments guidance manual: August 31 st Shaping Housing and Community Agendas
CIH Response to: DWP Consultation on Discretionary Housing Payments guidance manual: August 31 st 2012 Submitted by email to: ricki.lyon@dwp.gsi.gov.uk This consultation response is one of a series published
More informationThe impact of IFRS 16 on the UK tax position
May 2018 Tax Services The impact of IFRS 16 on the UK tax position Understanding the impact of IFRS 16 International Financial Reporting Standard 16 Leases (IFRS 16) comes into force for annual periods
More information- and - Sitting in public at the Royal Courts of Justice, the Strand, London on 15 March 2017
[17] UKFTT 0316 (TC) TC0793 Appeal number: TC/16/04041 Income tax expense claims late appeal non receipt of HMRC assessments and penalty notice last known address onus on taxpayer Tinkler applied application
More informationBroadening PAYE Settlement Agreements
2 Broadening PAYE Settlement Agreements Recommendations 2.1 Our recommendation is that the scope of PSAs should be widened to permit employers to settle any tax liability on benefits and expenses. The
More informationMoney. Association of Accounting Technicians response to HMRC s consultation on Making Tax Digital sanctions for late submission and late payment
Money Association of Accounting Technicians response to HMRC s consultation on Making Tax Digital sanctions for late submission and late payment 1 Association of Accounting Technicians response to Making
More informationPiet Battiau Head of Consumption Taxes Unit Centre for Tax Policy and Administration
MEMORANDUM To: From: Piet Battiau Head of Consumption Taxes Unit Centre for Tax Policy and Administration Jonathan Evan-Hughes (Senior Consultant Indirect Taxes) Premal Mehta (Indirect Tax Advisor) BP
More informationMaking Tax Digital: interest harmonisation and sanctions for late payment Response from the Low Incomes Tax Reform Group (LITRG)
Making Tax Digital: interest harmonisation and sanctions for late payment Response from the Low Incomes Tax Reform Group (LITRG) 1 Executive Summary 1.1 We welcome the fact that the proposed model for
More informationPersonal service companies
Personal service companies Introduction Two sets of anti-avoidance rules need to be considered where services are provided by an individual to an end-user via an intermediary. These are the personal service
More informationSimplifying Transactions in Securities Legislation. Consultation Document 31 July 2009
Simplifying Transactions in Securities Legislation Consultation Document 31 July 2009 Subject of this consultation: Scope of this consultation: Whether a package of proposals aimed at simplifying the Transactions
More informationConstruction Industry Scheme
Construction Industry Scheme The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry. Businesses in the construction
More informationWorking through personal service companies
Working through personal service companies When the IR35 tax avoidance rules apply Last year the IR35 rules applying to public sector engagements were reformed, and the results were very unpopular. Following
More informationAccounting and tax for start-up and small businesses
Accounting and tax for start-up and small businesses A guide for clients www.bwm.co.uk 0151 236 1494 Contents Page Introduction - Small businesses and start-up services 2 Which structure is right for your
More informationRegulatory Impact Statement:
Appendix Two. Regulatory Impact Statement: Quality Advice Statement: The Ministry for the Environment s Regulatory Impact Analysis Panel has reviewed the attached Regulatory Impact Statement (RIS) prepared
More informationReviewing the funding of the Financial Services Compensation Scheme (FSCS): feedback from CP17/36, final rules and new proposals for consultation
Reviewing the funding of the Financial Services Compensation Scheme (FSCS): feedback from CP17/36, final rules and new proposals for consultation Consultation Paper CP18/11*** May 2018 CP18/11 Financial
More informationCompany distributions
Company distributions Response to the HMRC consultation document of 9 December 2015 3 February 2016 1. Introduction 2 1.1 Overarching objectives 2 2. Executive summary 2 3. General comments 2 4. Responses
More informationOmbudsman s Determination
Ombudsman s Determination Applicant Scheme Respondent Mrs Y Principal Civil Service Pension Scheme (PCSPS) MyCSP Outcome 1. Mrs Y s complaint is upheld and to put matters right Cabinet Office should pay
More informationImplementation of the EU mortgage credit directive. Response by the Council of Mortgage Lenders to the HM Treasury consultation paper
Implementation of the EU mortgage credit directive Response by the Council of Mortgage Lenders to the HM Treasury consultation paper Introduction 1. The CML is the representative trade body for the residential
More informationMANAGING THE RISKS OF NON-PAYROLL LABOUR
MANAGING THE RISKS OF NON-PAYROLL LABOUR OCTOBER 2017 CONTENTS THE SPIRALLING COSTS OF GETTING THINGS WRONG... 01 A NON-PAYROLL LABOUR TAX RISK ASSESSMENT...02 THE RISKS WE WILL COVER...04 WHAT IS NON-PAYROLL
More informationCONTENTS. CLASS 2 NICs WILL BE PAYABLE VIA SELF-ASSESSMENT
CONTENTS CLASS 2 NICs WILL BE PAYABLE VIA SELF- ASSESSMENT THE NEW 0% STARTING RATE OF INCOME TAX A PRACTICAL REMINDER THE GOVERNMENT RAISES THE BAR ON DB ADVICE CONSULTATION ON AN INCREASED MINIMUM PERIOD
More informationTHOMSON REUTERS PROJECTS: Six months in: the impact of VAT on the GCC construction sector
: Six months in: the impact of VAT on the GCC construction sector Executive Summary Introduction In June 2018, six months after the UAE and Saudi Arabia introduced value-added tax (VAT) in accordance with
More informationTISA Response to. Pension scams: consultation
TISA Response to Pension scams: consultation February 2017 About TISA TISA is a unique, consumer focused membership organisation. Our aim is to improve the financial wellbeing of UK consumers by aligning
More informationTHE FINANCE RESET ON THE DAY BRIEFING
21 July 2016 THE FINANCE RESET ON THE DAY BRIEFING Over the past several weeks, there has been a series of announcements by NHS Improvement (NHSI) and NHS England (NHSE) on measures that are designed to
More informationMarket Oversight. Draft guidance for providers
Market Oversight Draft guidance for providers January 2015 Contents 1. Introduction to Market Oversight 4 What is Market Oversight for? 4 Why and how was the scheme developed? 5 How we have developed our
More informationThis April, don t get fooled out of your pension pot
This April, don t get fooled out of your pension pot What you need to know about HMRC s imminent tax liabilities if you re in a mid to higher income bracket. Call 0330 332 7140 * Visit clearskyfinancialservices.co.uk
More informationThe Ultimate Guide to Contracting
The Ultimate Guide to Contracting Accountants Experts for Experts Contents About us 3 Welcome to contracting 4 The benefits of contracting How to find your first contract 5 Limited vs Umbrella 6 Limited
More informationThis guide will give you an overview of the types of expenses you can claim and how to claim them.
GUIDE TO EXPENSES BUSINESS EXPENSES - AN OVERVIEW i4 Pay Partners Limited 71-75 Shelton Street Covent Garden London WC2H 9JQ «dummy» We have put this Guide together in line with all current HMRC guidelines
More informationOmbudsman s Determination
Ombudsman s Determination Applicant Scheme Respondent Mr N The Mountain Private Pension SSAS (the SSAS) Hornbuckle Outcome 1. I do not uphold Mr N s complaint and no further action is required by Hornbuckle.
More informationThe Gibraltar Financial Services Commission. Consultation Paper Regulation of personal pension schemes
The Gibraltar Financial Services Commission Consultation Paper Regulation of personal pension schemes Published: 4 June 2015 Table of Contents 1. Purpose 3 2. Executive Summary 4 2.1 Overall objectives
More informationUK REITS. Penny, begin by describing to us what a REIT exactly is.
UK REITS Investment trends, the economic environment and regulatory changes favour success of UK REITs following their official launch on the 1 st of January 2007. Real estate investment trusts, or REITs
More informationOTS review of capital allowances and depreciation November 2017 BPF comments
To: ots@ots.gsi.gov.uk 29 November 2017 Introduction 1. The BPF represents investors in UK real estate an industry which supports more than 1 million jobs and contributed more than 65bn to the economy
More informationEmployment intermediaries: reporting requirements
Employment intermediaries: reporting requirements Guidance about reports intermediaries may have to send to HMRC for agency workers where they didn't operate PAYE. An intermediary is any person who makes
More informationAUTUMN BUDGET 2017: FUTURE TAX CHANGES
AUTUMN BUDGET 2017: FUTURE TAX CHANGES The following briefing contains a summary of all tax policy measures which were announced yesterday at Autumn Budget 2017 for inclusion in a later Bill. Autumn Budget
More informationSummer Budget 2015: Implications for Healthcare
Summer Budget 2015: Implications for Healthcare The Budget proposals are intended to encourage and reward those in work, for example by raising the personal tax allowance and higher rate threshold, increasing
More informationSTEP welcomes the opportunity to respond to the consulation paper published on 20 April 2016.
Response of STEP to Strengthening the tax avoidance disclosure regime for indirect taxes and inheritance tax consulation paper published on 20 April 2016 STEP is the worldwide professional association
More informationSkills training tax credits
Skills training tax credits Definition, eligibility criteria, eligible expenditure An officials issues paper on matters arising from the Business Tax Review November 2006 Prepared by the Policy Advice
More informationTAXING GAINS MADE BY NON-RESIDENTS ON UK IMMOVABLE PROPERTY
TAXING GAINS MADE BY NON-RESIDENTS ON UK IMMOVABLE PROPERTY Response by the Association of Taxation Technicians 1 Introduction 1.1 The Association of Taxation Technicians (ATT) is pleased to have the opportunity
More informationDefinitive VAT-system for Cross-Border Trade
POSITION PAPER 21 December 2017 Definitive VAT-system for Cross-Border Trade KEY MESSAGES 1 2 3 We welcome the European Commission s commitment to the creation of a single VAT-area based on maximum simplicity,
More informationOpinion Statement FC 9/2017. European Commission Proposals on the way towards a single European VAT area
Opinion Statement FC 9/2017 on European Commission Proposals on the way towards a single European VAT area Prepared by the CFE Fiscal Committee Submitted to the European Institutions on 1 December 2017
More informationKey employee share schemes and securities developments
12 December 2013 Finance Bill 2014 Key employee share schemes and securities developments Draft clauses for Finance Bill 2014 (FB 2014) were published on 10 December 2013. They include a number of important
More information