HMRC IR35 investigations could cost contractors £30m

(2 minutes to read)

With HMRC looking at employment status extremely closely, contractors might find that the government body is continuing to take a very tough line.

According to recent data, HMRC is looking to gain an additional £29.7 million from employment status investigations.

Mike Crellin from UHY Hacker Young, explained, “HMRC’s crusade against contractors is far from over.

“HMRC is looking at employment status extremely closely. These estimates show that HMRC thinks there is more revenue that could be squeezed out of the compliance work in this area. Contactors can expect HMRC to continue to take a very tough line.”

Considering becoming an employee of Contractor Umbrella?

Give us a call on 01206 591 000 or email jaime.thorpe@contractorumbrella.com.

Email Jaime

Crellin added, “Just this year HMRC introduced the controversial loan charge to claw back up to 20 years of backdated tax from business, including contractors who reduced their tax liabilities through tax planning schemes.

“IR35, the legislation targeting people who wrongly register as self-employed to reduce their tax and NIC, is going to be extended to the private sector next year which will likely create more confusion about the employment status of contractors. This is likely to see more mistakes being made – and more fines.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@contractorumbrella.com.

You may also like to read

Lorraine Kelly IR35 victory shows HMRC ‘in the dark’ about its own legislation, says IPSE

The high profile case involving Lorraine Kelly’s successful tax tribunal victory over IR35 shows that HMRC doesn’t understand its own ...

Read More

HMRC lose another IR35 case against Loose Woman presenter

With the recent success of Lorraine Kelly’s high profile tax tribunal case over IR35, a similar story involving Kaye Adams ...

Read More

Another HMRC IR35 defeat ‘raises concerns’, says IPSE

ITV presenter Helen Fospero has become the latest TV presenter to win an IR35 tax tribunal against HM Revenue and ...

Read More

Still thinking about if you should join Dolan Accountancy?

Give us a call on 01206 591 000 or email jaime.thorpe@dolanaccountancy.com

BLACK FRIDAY DEAL

One week margin free when you sign up with Contractor Umbrella today!
Hurry - Deal ends at midnight tonight.
CLAIM NOW
      Terms and Conditions: 
1 week margin free or £25 reduction on monthly margin. Online registration form must be completed by midnight 6th December 2019. Payment must be processed and margin redeemed by 31st December 2019.
      
close-link

dav1