Contractors and freelancers operate through a private company to enjoy a better tax treatment compared to sole traders — but a more favourable tax position is actually never guaranteed because of off-payroll working rules known as IR35.
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Off-Payroll Working In The Private Sector
Exactly a year later than planned, changes to the off-payroll rules – known as IR35 – will take effect in the private sector next month. The emergence of COVID-19 put paid to the changes affecting large and medium-sized private-sector organisations this time last year, but now it’s for real.
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IR35 IN THE PRIVATE SECTOR
Large and medium-sized organisations have just six months left to prepare for changes to off-payroll working rules, which are due to extend to the private sector next spring. (more…)
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Outsourcing Payroll
Does it make sense for your business?
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll.
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Tax Question of the Week: Statutory Maternity Pay
We have an employee who is being made redundant and is entitled to Statutory Maternity Pay (SMP). Do we have to continue paying SMP after the redundancy?
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July 2018 Tax Insider
This months edition includes:
– ‘Raise the VAT threshold to stimulate SME growth’
– SMEs miss out on business savings interest
– Calls increase for reform of ‘flawed’ apprenticeship levy
– Working pensioners pay £8.6bn in income tax