19-03-2024
Highlights from the broader tax news for the week ending 20 March 2024, including: HMRC’s framework for large businesses; new secondary legislation applying across a range of areas, including the off-payroll rules; maps of investment zones; and updated guidance on genuine HMRC contact.
ICAEW Insights
06-03-2024
From 6 April 2024, the headline rate of NIC will fall from 10% to 8% for employees, and from 9% to 6% for the self-employed. The government will also consult on how it will abolish Class 2 NIC.
ICAEW
05-03-2024
PAC has recommended more resources for HMRC so that it can meet its service standards. It has found that HMRC’s approach to off-payroll working is deterring legitimate economic activity.
ICAEW
26-02-2024
A single determination of tax and NIC would simplify the offsetting process. The deemed employer should have the right to appeal against a determination.
ICAEW
30-01-2024
Consultation on draft legislation and guidance for offsetting tax and NIC when an employment status determination is changed to ‘employed’.
ICAEW
05-12-2023
HMRC has published guidelines to help organisations and contractors involved in off-payroll working (OPW) / IR35 understand what HMRC considers good practice.
ICAEW
22-11-2023
The Autumn Statement confirms a welcome new power to offset tax following a correction to an employment status determination.
ICAEW
22-11-2023
National insurance contributions (NIC) will be reduced to 8% for the self-employed and to 10% for employees, and the flat rate class 2 NIC will be abolished for most self-employed, the chancellor has announced.
11-10-2023
Highlights from the broader tax news for the week ending 11 October 2023, including: VAT helpline survey for insolvency practitioners; VAT treatment of drugs and medicines; and a platform change for HMRC’s CEST tool.
ICAEW
20-09-2023
HMRC adopts a pragmatic approach of offering deemed employers the ability to pause settlement pending a potential change in legislation.