Henry Brown & Co Chartered Accountants
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Contractor wins IR35 appeal against HMRC

18-05-2018

A tribunal judge has dismissed HMRC demands for £26,000 in payment from an IT contractor it claimed had fallen foul of the IR35 tax avoidance rules. The Revenue claimed Ian Wells’ 11-month stint working for the Department for Work and Pensions had been incorrectly classified as an outside IR35 en...


HMRC urged to show mental health support

17-05-2018

HMRC must better support people with mental health problems, Blick Rothenberg has said, criticising the tax service for failing to recognise such issues. Blick Rothenberg's Fiona Fernie said: “In many tax cases the issues caused by mental health problems are not properly recognised and HMRC needs...


HMRC to appeal discount tax ruling

17-05-2018

HMRC is to appeal a ruling against a discount tax applied to "loyalty bonuses" given to customers of Hargreaves Lansdown (HL), which were introduced 15 years ago. HMRC says that rebates of annual charges, like loyalty bonuses paid on funds held outside ISAs or SIPPs, should be taxed as income and pa...


More eBay millionaires…

16-05-2018

The number of self-made millionaires selling goods on eBay has risen by 300 in the past year, meaning there are now more than 1,000 so-called ‘eBay millionaires’ in the UK....


Older tenants require 'pension mountain'

16-05-2018

Tenants who will still be paying rent when they retire will need a pension pot of up to £445,000 to avoid falling living standards, research suggests. The calculations come from analysis by pension provider Royal London which said savers needed a "pension mountain" for older age....


Small businesses back late payments legislation

16-05-2018

A survey of 2,000 small firms by Basware and YouGov reveals 61% of SMEs want new laws on late payments. One in four of the respondents said they have had their financial viability put at risk due to late payment or payment towards the end of a term agreement, suggesting around 665,000 businesses in...


MP scolds HMRC over 'illegal' taxation of contractors

16-05-2018

Stephen Lloyd, the Liberal Democrat MP for Eastbourne, has attacked HMRC for “retrospectively taxing” contractors. Mr Lloyd introduced a motion calling on Parliament not to apply the loan charge to those who entered “disguised remuneration” schemes before the recent rule changes. Andy Wood,...


HMRC’s spending on debt collectors surges

14-05-2018

The amount HMRC pays to private-sector debt collectors has risen by more than 500% in three years, according to data obtained by UHY Hacker Young. The figure rose to £39.1m in 2017, which was 62% higher than the £24.1m HMRC spent in 2016. The figure has increased annually for several years, rising...


Tax advice service fails to take off

14-05-2018

HMRC’s Growth Support Service has received just 14 applications since it was launched eight months ago. The scheme offers advice from a dedicated tax expert for the 170,000 British companies with a turnover of more than £10m or more than 20 employees. It is intended to ensure tax issues do not st...


Tax overhaul offers little relief for investors

14-05-2018

Speculation is growing that investors could lose the tax relief they get when backing smaller companies under a shake-up of inheritance tax. Experts believe that the rules around business property relief on shares held in the Alternative Investment Market could change from as early as 2020 as a resu...


Contractors hit back at tax avoidance crackdown

14-05-2018

Social and health workers and IT contractors have submitted a petition to parliament demanding HMRC stops pursuing them over tax avoidance. The Revenue is seeking money owed by almost 100,000 contractors who used “disguised remuneration” and similar schemes going back to 1999 that involved avoid...


Right advice, not more cash now required to improve SME finance

11-05-2018

ICAEW Head of Corporate Finance David Petrie comments on the Treasury Select Committee probe into finance for SMEs. He says MPs are “fighting the last war” – access to finance – which is no longer the issue it was 10 years ago. Rather, SMEs need access to better advice on where to turn in a...



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