The taxman is probing a tax loophole which has reportedly kept hundreds of
millions of pounds in national insurance contributions out of the public
The scheme, which has been used by scores of companies according to
Times is depriving the Treasury of as much as £70m a year.
By treating oil rig workers as sailors, employers are able to avoid paying
their share of UK national insurance contributions, cutting their staffing costs
by as much as 12 per cent.
Up to one third of the 30,000 workers in the North Sea oil industry are
thought to be affected by the practice, which exploits an area of UK tax law
known as the “Mariners’ Dispensation”.
An HMRC spokesman said: “We are looking into it. This could be something that
we intend to close down.”
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states