Most contractors unaware of IR35 changes

Contractors are still not fully aware of the changes to tax legislation that are set to take effect in a year's time, according to a survey from the Recruitment and Employment Confederation (REC). IR35 rules were reformed for the public sector in April 2017, with the...

Higher-rate tax cut takes effect for most

Higher earners in England, Northern Ireland and Wales will pay considerably less income tax in 2019/20 than their counterparts in Scotland. Chancellor Philip Hammond's decision to raise the higher-rate threshold to £50,000 took effect on 6 April 2019, while the higher...

Oblivious workers over 65 ‘being taxed on their state pension’

Up to half a million workers could be paying unnecessary tax on their state pension, according to research from Royal London. Around 1.1 million over-65s were in employment in 2017, with roughly 950,000 of those receiving a wage alongside drawing their state pension....

CIOT queries offshore tax avoidance approach

A leading taxation body has expressed concern about the Government's approach towards disguised remuneration loan charges. Up to 50,000 individuals and their employers in the UK are thought to have either benefitted from, or used, disguised remuneration schemes in the...

Residential landlords report higher tax bills

Buy-to-let landlords saw increases to their tax bills in the 2017/18 tax year, suggesting many felt the bite in the first year after changes to mortgage interest relief were introduced. In a survey by Paragon, 58% of landlords said their tax bill for 2017/18 was...