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Companies are being urged to get a better handle on their supply chain following guidance issued by HMRC on mini-umbrella company fraud, however market participants have criticised the body’s approach. “HMRC is pushing out the moral imperative saying big companies have a moral obligation to make sure that everything that sits below is fair and transparent,” says Matthew Sharp, tax disputes director at Fieldfisher. “It’s very interesting the way that HMRC’s press team have positioned this as a problem with umbrella companies,” he says. “There are a lot of very reputable umbrell...

Need to know ICAEW urges members to be aware of mini-umbrella companies: HMRC has issued new guidance on the fraudulent activities of so-called ‘mini-umbrella companies’ sometimes created to avoid paying tax and national insurance. ICAEW’s Tax Faculty calls on members to ensure they are informed. Bounce Back Loans - getting ready to repay: Businesses are being contacted by their banks about repayment of Bounce Back Loans. If repayments are not affordable, businesses should consider their options and take action. CJRS - is an employee receiving fixed or variable pay? Whether an employee ...

IR35: MPs urged to back ‘curb or kill’ umbrella company-focused Finance Bill amendments Two amendments to the incoming Finance Bill that have the potential to ban the use of umbrella companies are being voted on by MPs in the House of Commons today Share this item with your network: By Published: 24 May 2021 10:57 MPs are being urged to vote in favour of two proposed amendments to the incoming Finance Bill that are intended to stamp out malpractice among unregulated umbrella company operators. The amendments – tabled by David Davis MP with the support of Sir Iain Duncan Smith MP an...

Good morning and welcome to your Morning Briefing for Friday 21 May, 2021. To get this in your inbox every morning click here. CGT overhaul on hold for now The Covid-19 pandemic has cost the UK a fortune but the taxpayers don't know it yet. Therein lies chancellor Rishi Sunak's dilemma: the politics and economics are

The Office of Tax Simplification (OTS) has proposed streamlining the UK’s capital gains tax regime but not a radical overhaul.