This month the entire sector is waiting with baited breath for the Budget on the 29th October to see if it brings news of the controversial changes regarding IR35 (off payroll working) in the private sector. As and when we learn more we will be sure to let you know how this affects you. In this month’s newsletter we expand on what this may mean for the sector along with our views.
From 6 April 2019, if you live in Wales, some of your Income Tax will be paid to the Welsh Government. The rates of Income Tax will be set by the Welsh Government. HMRC are notifying those identified as a Welsh taxpayer in November 2018 so it is important that the information HMRC hold is correct and they know your current place of residence.
When contractors are considering the value of the PayStream Tax Investigation Protection Service (TIPS) they often ask us “Are HMRC interested in the accuracy of my personal Tax Returns?” along with “what are the chances of me being selected for a compliance check?” and “what sort of things are being investigated?”.