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Off-payroll working – the perspective for individuals

24 March 2020

The Government believes the legislative changes will impact 170,000 individuals working through their own intermediary, such as a PSC. For these individuals, the deduction of tax and NI at source will have cash flow implications and, therefore, needs to be planned for.

What do individuals need to consider? 
IR35 - The impact to individuals providing services via Personal Service Companies
Stuart McKinnon

The Government has confirmed that it intends to reform the off-payroll working rules (commonly known as IR35) from 6 April 2021. This change impacts an estimated 170,000 individuals who supply their services through an intermediary, such as a personal service company (PSC), and who would be deemed employed if engaged directly.

Budget 2020: Real estate and construction overview

11 March 2020

There has been announcements in the 2020 Budget that will impact the real estate and construction sectors. This includes moves to restrict brought forward capital losses and to streamline non-UK resident companies move to corporation tax.

Loan charge review - what should you do now?

26 February 2020

The loan charge is an anti-avoidance measure to counter ‘disguised remuneration’ schemes where individuals were paid in the form of loans, replacing all or part of their salary.

2019/20 year-end tax planning considerations

26 February 2020

Taking simple and effective actions now could result in significant reductions to your 2019/20 and future personal tax liabilities. The next Budget is on 11 March 2020; although the Conservative manifesto ruled out increases to income tax, VAT or national insurance, could tax increases be made in disguise?

The cost of sharing

24 January 2020

What are the tax considerations of buying a property with the support from ‘the bank of mum and dad’. In these cases, it’s easy to miss the complexities of the tax system and accidentally get things wrong.

Unreasonable excuses for late filings?

24 January 2020

The 31 January tax return deadline is coming soon. If you are due to complete a return, please bear in mind that a late return can produce painful results – regardless of the outlandish excuses provided to HMRC.

Cryptocurrency - tax and governance of the new financial frontier

02 December 2019

At its height in December 2017, bitcoin reached a value of over $19,000, only to trade for under $4,000 for much of early 2019. It is not an exaggeration to say that cryptocurrency fortunes were made and lost over this period, and cryptocurrencies are now a fact of investment life. Aside from obvious concerns about volatility and which option to back, ‘crypto’ creates administrative challenges for trustees and company directors. For example, consider two areas: tax treatment and money-laundering.

Countdown to corporation tax April 2020: non-UK landlords

06 November 2019

The move to the corporation tax regime for non-resident companies letting out UK real estate, will have a significant impact on the way they calculate their taxable rental profits, compliance processes and the timing of when tax payments will become due.

Countdown to April 2020: differences in tax treatment at a glance

06 November 2019

In continuation of the series of articles on the subject of Corporation Tax for non-UK resident companies, this issue summarises the main differences between the UK income and corporation tax regimes and what non-UK resident companies can expect from the regime change.

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