Contractors – only use an accountant or umbrella company that is accredited by the FCSA

There are more contractor accountants and umbrella companies than ever before. In fact, new companies seem to be entering the marketplace on a daily basis! As a result, choosing the right provider for your circumstances may be difficult, and you may be left scratching your head.
With so many to choose from, how can you be sure which one will offer you the best, most reliable service? It’s not an easy question to answer. Still, we do have some invaluable advice that should make the experience far easier for you – only choose an accountant or umbrella company that is accredited by the Freelancer & Contractor Services Association (FCSA). Keep reading, and we’ll explain why this is so important.

Useful tips to help you choose the best umbrella company for your payroll

Umbrella companies have been around for years, but since the recent changes to off-payroll legislation (IR35), there has been a noticeable rise in the number of umbrella companies targeting UK temporary workers. With so many options, how do you know which umbrella company is best for your circumstances, and what should you be aware of when selecting one for your payroll?
HMRC is continuously stepping up their efforts in catching contractors engaging with non-compliant payroll services; choosing a compliant umbrella has never been so crucial. To help you make well-informed decisions, we’ve come up with eight useful tips to help you pick an umbrella company you can truly rely on.

IR35 victory for HMRC results in Talksport presenter facing substantial tax bill

Last year, a first-tier tribunal went in favour of Talksport presenter and comedian Paul Hawksbee. It was found that Paul and his personal service company (PSC) Kickabout Productions Ltd were operating compliantly and outside IR35. Interestingly, it wasn’t the first time HMRC had lost a case regarding IR35, and it looked as if they were continuing to lose credibility on the legislation and their understanding of how it applies in practice. After an appeal from HMRC, an upper tribunal ruled in favour of HMRC – almost 12 months after the original ruling. As a result, Paul Hawksbee faces a tax bill of nearly £140,000.

Disguised remuneration schemes: HMRC is changing its angle of attack, and they may need your help

In an unusual appeal, HMRC has asked for the assistance of organisations and workers in gathering evidence to help tackle unethical disguised remuneration schemes. More precisely, HMRC is looking for stakeholders to help them understand why people are continuing to engage with disguised remuneration schemes, how they can identify new schemes, and where they can take further action to close schemes and reclaim unpaid tax fairly.