HMRC News and Updates for UK Contractors & Freelancers

Are you aware about the new HMRC Your 2016 Tax Report Phishing Scam? HMRC recently issued a warning to its customers making them aware about the new "Your 2016 Tax Report" phishing scam which is making rounds on the internet. This phishing email comes with an attachment, which HMRC has strongly advised people not to open or download the attachment. They hav Article Author: Smit Shah Comments Read More
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Corporation Tax: Late Payment penalties and interest charges explained In this article, we have explained, what contractors should do if they think they'll not be able to pay their Corporation Tax (CT) on time? As a Limited Company, if you make a profit in the year then your company will be liable for Corporation Tax (the current rate is 20%, which will reduc Article Author: Louisa Drewett Comments Read More
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Deadline day penalties: a subjective approach January 31st is a date that every self- employed individual has in their diary. As discussed on Taxes UK, the deadline for returning self- assessments to HMRC is often missed by a large number of people. This year it is estimated that 890,000 individuals did not return their completed form Article Author: Harry Taylor Comments Read More
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HMRC Taskforces Targeting VAT Fraud HMRC taskforces are comprised of multiple teams from across HMRC including special investigations, local compliance and criminal investigation units for targeting specific sectors and locations where there is a high risk of tax evasion. The taskforces use local knowledge and risk profiling Article Author: Smit Shah Comments Read More
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