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This is the official blog page of Beaumont Swiss Limited.

Information is power. The right information at the right time is wealth.

We use this space to supply you with the up-to-date contractor news, IR35 news, tax news and business news. Stay on the ball and sign up to our monthly newsletter to get the latest news. For additional information about our services, visit our website http://beaumontswiss.co.uk

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National Insurance Contributions Bill 2014 – The Draft

The National Insurance Contributions Bill was introduced into Parliament on 17 July 2014. This is known as the first reading and there was no debate on the Bill at this stage. If the bill passes second reading and is committed to a public bill committee, the membership of the committee will be published in Votes … Continue reading

Tax Disputes: Follower Notices and Accelerated Payments

New provisions, which came into force on 17 July 2014, are designed to remove the cashflow advantage for the taxpayer that currently exists in relation to most direct tax disputes and to help HM Revenue & Customs (HMRC) to clear the backlog of disputes relating to past tax avoidance schemes. If HMRC succeeds in the … Continue reading

UK tax inspectors collect record £23.9bn

Investigations by tax inspectors have collected a record £23.9bn over the last year, according to official figures. The total was £3.2bn more than the previous year, £9bn higher than three years ago, and nearly £1bn above the target set by the chancellor, George Osborne, in his 2013 autumn statement, HM Revenue and Customs said. More than … Continue reading

New Legislation Causing Nervousness

Contractors being subjected to unnecessary checks by agencies Probably not unexpectedly, the new Agency Legislation is already wreaking havoc amongst some agencies and causing knee jerk reactions. The legislation, enshrined in Chapter 7, Part 2, Income Tax (Earnings and Pensions) Act 2003, was amended from 6th April of this year to tighten up on ‘false self-employment’ … Continue reading

Are you “Employed with a second income”?

HMRC have recently launched ‘The Second Incomes Campaign’, aimed at employees who are UK resident and running a business on the side but not paying tax on the income. A second income could derive from: consultancy fees, e.g. for providing training organising parties and events taxi driving, hairdressing or fitness instructor making and selling craft … Continue reading

John Redwood: ‘Top tax rate cut is raising billions’

Cutting the top rate of income tax has massively increased the amount of money the rich are paying into government coffers, says a senior Tory MP. John Redwood points to figures from HM Revenue and Customs that show a £9bn increase in tax receipts this year – after the top rate was cut to 45%. The Office for … Continue reading

Overview of Anti-avoidance Tax Legislation 2014

This article summarises tax changes to be legislated in relation to Anti-avoidance in Finance Bill 2014 and/or other legislation, including secondary legislation having effect in 2014-15. Offshore employment intermediaries – As announced in Budget 2013 and following consultation, legislation will be introduced in Finance Bill 2014 to strengthen obligations to ensure the correct income tax and National Insurance … Continue reading