HMRC has just updated its guidance on the extension of existing off-payroll working rules (IR35) to the private sector, scheduled for April, with a new contractor factsheet setting out the changes.   Download Off worker - Contractor factsheet on IR35 rules   While the factsheet references the review the government has launched into the implementation of changes to the off-p ...

The Chancellor of the Exchequer, Sajid Javid has announced that the major review of all aspects of self-employment, promised in the Conservatives' manifesto, will include the proposed extension of the Off-Payroll working rules to the private sector from April 2020. Speaking on Radio 4's Money Box Election Special, Sajid Javid said that, as part of the review, he wanted in part ...

Tax

The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over. From 1 April 2020 the NLW will rise from the current rate of £8.21 to £8.72 an hour, in the largest raise since it was introduced two decades ago. The government has confirmed that the new rate will start on 1 April 2020 and will result in an increase of £ ...

The Low Incomes Tax Reform Group (LITRG) is calling on the government to address issues with the High Income Child Benefit Charge (HICBC). The HICBC is designed to claw back child benefit where the claimant or their partner earns in excess of £50,000. According to LITRG some households think making a child benefit claim is not worthwhile if it will be clawed back in full via t ...

Tax

The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities.   There is a penalty of £100 if a taxp ...

Tax