Response to HMRC’s Statement dated 11 July 2011, “pay day by pay day tax relief model”.
On the face of it, the statement appears to be a weak attempt at clouding what is a genuinely available by reference to current legislation and case law, in order to prevent a leakage of tax revenues at the expense of the most vulnerable workers in our society – the low paid.
Construction Industry Left Scratching Its Head After Latest ONS Figures
The construction industry is said to be in complete disbelief after the Office for National Statistics said that business in this sector has contracted by 4.7% in the first quarter of 2011. This figure was later revised to 4% but this has in no way has alleviated any confusion concerning this matter.
HMRC Will Treat Honest Traders With A ‘Light Touch’
In a bid to cut costs on ‘drawn out and costly’ tax procedure inspections HMRC have promised to treat honest traders with a light touch. On the flip side they plan to throw the book out firms suspected of multiple taxes.
Unemployment Falls as Jobless Rate for Young People Increases to 20%
During the first 3 months of the year UK unemployment fell by 36,000 according to the Office for National Statistics. After this fall the rate of unemployment now stands at 7.7% but among 16-20 year olds there are one in five young people now out of work. This roughly amounts to 935,000.
Construction Recruiters Anticipate ‘Bounceback’
After months of uncertainty and numerous construction projects being postponed across the country it would as though things are about to look up. Construction recruitment companies have resumed hiring again in anticipation of a sector bounce back.
HMRC Profiting From Tax Refund Delays?
In recent weeks HMRC has denied profiting from tax refund delays. Leading accountants have claimed that these delays are becoming more and more widespread and the waiting period for a refund can often take months. This new dispute follows the miscalculation of PAYE liabilities last year which was also well documented through out the media. At the time, this was also denied before the ever sheepish HMRC held their hands up to their mistake.
PTR instead of salary sacrifice
As we all know, there are some major changes in October due to AWD. One of the most significant changes for a company such as ours is the incompatibility of salary sacrifice with AWD. If after twelve weeks there is a comparator permanent wage, expenses taken instead of salary will reduce the temps wage in [ Read more ]
Recruiters Advised To Review Compliance Procedures
Recruiters have this week been urged to review their compliance procedures after it was announced that a recruitment agency and its director are facing a £10m Transfer of Debt notice from HMRC under Managed Service Company legislation.
One In Three Recruiters Currently Make A Loss
According to new research carried out by market analysts Plimsoll, one in three recruiters are currently making a loss. This is due to ever increasing costs pertaining to things such as fuel, materials and ever increasing wage demands.
David Pattison, senior analyst at Plimsoll has stated that ‘62% of companies have seen their gross margin fall [ Read more ]
IR35 Retained
Since the recent report carried out by the OTS that was questioning the future of IR35 the decision has been made to retain the existing format but to improve on the way it is administered. This is according to the recent Budget documents.