No. 9 The Compliance Files - Professional Employment Organisations
Tax avoidance is when people bend the rules of the tax system to pay less than they owe. It also means that the vital public services we all use like hospitals and schools, don’t get the money they need.
No 2: The Compliance files - Holiday pay when using an umbrella company.
Crawford Temple, CEO and founder of Professional Passport shares four key areas accountants overlook when opening an umbrella firm.
HMRC’s Fraud Investigation Service and Threat Response Unit have issued the following information on the area of mini umbrella companies.
In this first in a series of discussions Crawford Temple from Professional Passport and Dave Chaplin from IR35 Shield explain what an umbrella company is.
With the new rules coming into effect in April 2021 leading industry experts discuss key steps to consider in preparing.
With market pressures mounting following CJRS, and a drive for new business as we move towards April 2021, some providers are being lured to the dark side.
All umbrella companies should return similar take home pay as they should all follow the same tax rules. Contractors still seem to be chasing the high returns with the false assurances of compliance.
We look at the learning and possible changes following the issues faced by the sector as a result of the Coronavirus outbreak.
Read the latest guidance we have from HMRC on the application of the scheme where a worker is employed by an umbrella company.
Umbrella holiday pay has become a major focus in recent times so we clarify our position on this key area.
With many workers moving from their own limited companies to umbrella providers as a result of Off-Payroll reforms we look at the importance of clarity around the rate.
With the new reforms set for April 2021 we can help if you are still trying to understand and assess your contractors. Our step by step guide is a must.
Comparison and broker websites marketing umbrella companies are not always what they seem.
Find out what you should consider before using an umbrella company to make sure it complies with the tax rules.
PRISM and The Low Incomes Tax Reform Group have put together guidance for contractors looking to use umbrella companies.
Employers must ensure their status determinations meet the requirement for reasonable care.
We look at the ongoing issue of tax avoidance being marketed to contractors with the promise of high returns and low risk.
Tax avoidance schemes aimed at contractors and agency workers.
Find out how to identify schemes that wrongly claim to increase your take-home pay if you are a contractor or agency.
Professional Passport is the only compliance accreditation that provides this insurance backed guarantee.
This is an area that is causing confusion following all the changes in 2016. Just because an agency allows expenses to be recharged it does not follow that these can be paid to a worker tax free.
Make sure you keep upto date with our Approved Providers and ensure claims of compliance accreditation are genuine.
The whole area of contractor claimed direct expenses has changed beyond recognition following a series of changes across recent years.
Key Information Document- do not miss this requirement that comes in April 2020.
Following the introduction of The Criminal Finances Act we have been working with many recruitment companies helping them develop their defence strategies.
We are hearing of umbrella providers that are looking to offer a service where they would subcontract services to a contractor’s limited company where there has been an inside IR35 assessment.
Remuneration trust: tax avoidance using loans or fiduciary receipts
Information about a tax avoidance scheme that tries to disguise income and other taxable profits as loans or fiduciary receipts by using a remuneration trust.
Disguised remuneration: schemes claiming to avoid the loan charge
HMRC is aware of schemes and arrangements that claim to avoid the 2019 loan charge on disguised remuneration. It's HMRC's view that these schemes do not work.
Rewarding employees and contractors using contrived loan arrangements (Spotlight 46)
Find out about the General Anti-Abuse Rule (GAAR) Advisory Panel opinions on arrangements that rewarded employees and contractors with contrived loans.
Following recent cases we look at the area of matching holiday pay for AWR.
Following the introduction of the Criminal Finances Act more recruitment companies are now operating preferred supplier listings supported by accredited providers.
We are still seeing an increase in the number of offshore umbrella providers operating in the market and advise extreme caution to any organisation considering one of these providers.
Umbrella companies offering to increase your take home pay.
Find out what to do if an agency or umbrella company offers to reduce your tax liability and increase your take home pay.
Disguised remuneration: schemes affected by the loan charge
Information about the loan charge on disguised remuneration schemes which came into force on 5 April 2019.
Disguised remuneration: schemes claiming to avoid the new loan charge
HMRC is aware of schemes that claim to avoid the loan charge on disguised remuneration. These schemes don’t work.
Disguised remuneration: a Supreme Court decision
On 5 July 2017 The Supreme Court released their unanimous decision about disguised remuneration tax avoidance schemes used by Rangers Football Club.
Disguised remuneration: re-describing loans
HMRC is aware of schemes that claim to avoid the 2019 loan charge on disguised remuneration. These schemes don’t work.
Disguised remuneration: job board avoidance scheme
HM Revenue and Customs is aware of a scheme that claims to avoid tax by using job boards and loyalty points paid by a third party.
Disguised remuneration: tax avoidance using annuities
Schemes that use annuities to avoid Income Tax and National Insurance contributions don’t work. HMRC will investigate anyone who uses one.