HM Revenue & Customs (HMRC) has launched an updated Check for Employment Status for Tax (CEST) service ahead of the introduction of the IR35 off-payroll working rules for the private sector on 6 April 2020.
The current 10 per cent tax rate for entrepreneurs is subject to review and abolition after the General Election, with the main political parties considering the future of the tax.
According to industry figures, the number of people arrested in the UK on suspicion of tax evasion has reached the lowest level for five years.
HM Revenue & Customs (HMRC) has lost a case against an IT Consultant that the tax body deemed liable for £243,000 in tax under the IR35 rules.
According to a leading accounting software provider, over 50 per cent of UK small and medium-sized enterprise (SME) owners have made a mistake when filing their VAT returns, while just a quarter (25 per cent) feel confident that they have filed their VAT accurately.
The Conservatives have unveiled plans to increase the threshold for National Insurance (NI), promising a tax cut of £500 for every worker in the UK.