Tax Articles and HMRC News from Bettertax

23

Sep

Hammond U-Turn On NICS Price Hike

Published in Tax Articles

Some good news to eventually come out of the awful first Philip Hammond Spring Budget for 2017. After a week of rebel Tory back benchers, many Labour party MPs and prominent industry leaders pointing out the breach in the Tory manifesto, it was clear to see that the proposed price rise for self-employed workers in their National Insurance Contrbutions (NICs) was a mistake.

It seems that before Prime Minister's question time, Theresa May told  Mr Hammond to drop it. This is supposed to regain voters' trust but it's now worrying just where the £2billion will now come from when we get the Autumn budget. Maybe Philip Hammond will be gone by then!

 Hammond U turn on NICs

It's about time the government started looking more into big corporations who don't employ directly or avoid paying the correct tax.

We have many clients who have been forced into self-employment in order to remain working. We even have some who were "advised" to start up one man Ltd companies, in order to still have work. The Construction Industry Scheme (CIS) is a form of self-employment. That was brought in by the government because they were so worried construction workers were not paying correct tax.

I can understand the disparity in NICs between self-employed and PAYE employees. Yes, both will get the seame state pension, both are entitled to NHS. However, the self-employed person has no protections or benefits that an employed person has. It could be argued that the employer contributions cover those benefits, which is why cracking down on bogus self-employment is so important.

If you have any tax questions, get in touch!

 

FREE tax advice

Read more...

23

Sep

Out With The Old & In With The New Tax Year

Published in Tax Articles

The 5th April marks the end of the tax year (2015 - 2016 tax returns). This means that if you have not made a tax claim perhaps ever, you will miss the chance to claim for 2012 - 2013 as HMRC will only accept claims going back 4 years. With average yearly tax refunds of nearly £700, make sure you don't lose any years by not taking action, NOW! We're here to help, friendly and easy to work with.

 

bettertax zen at getting tax back

So what does the 6th April mean? It means you can start claiming tax rebates for the tax year 2016 - 2017. If you are not up to date or have never claimed before, you could be owed a refund from 2013 - 2014, 2014 - 2015, 2015 - 2016 and this new tax year. Average 4 year claims can be £2500 and often more.

Our clients come back to us every year because we make claiming so easy. If you are unsure and want to know what others think of us, have a look at our independant reviews. We don't average 5 stars across the board for nothing!

Get in touch to find out more. 

 

start your tax refund claim

Read more...