LONG-SERVING public officials are cutting their tax bills by being paid through their own companies.
A leaked review initiated by chief secretary to the Treasury Danny Alexander has found that 2,000 senior officials are paid through their own company structures, rather than taxed directly through PAYE.
Of those, 800 have worked for their department for more than two years. A further 400 have worked for more than a year.
The Treasury wants longer term ‘off payroll’ contracts earning more than £220 a day to prove they are paying full income tax and NI, reports Press Association.
Departments that fail to better manage the contracts will face sanctions of up to five times the contract paid.
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT
Freelancers and micro-businesses still need more information about the government’s plans to make tax digital
The government is pressing ahead with changes to the way it taxes individuals with a foreign domicile