Natwest systems (bankline) are still down this morning meaning umbrella companies with a Natwest bank account are unable to access their bank statements to action what funds have been received from recruitment agencies to pay to their umbrella company employees.
Natwest Bankline system has been struggling over the last 2 days and is now making headline news. What does this mean for contractors?
In the Budget it was proposed that all "controlling persons" must be on the payroll of that orgainsation by law.
Ebay traders are reported to have been targeted by HMRC as HMRC believe that many may be underpaying tax.
If you are a contractor looking to trade through your own limited company or personal services company (PSC) but are unable to open a business bank account because of a poor credit history then PayMatters can help.
Jimmy Carr and some members of Take That (excluding Robbie Williams) are included in the highly paid entertainers who have been reported as benefiting from reduced tax payments by following cleverly thought out schemes recommended by their accountants.
It is being reported that HMRC have issued their first batch of IR35 letters to contractors working through their own Personal Service Companies (PSC's).
The HMRC have launched a new tax calculator.
IR35 has been in the news again this week with HMRC introducing a new Business Entity Test and also giving example scenario’s of what to expect if they were to perform an IR35 review on you or your business.
9th May 2012 and HMRC have today launched a pdf in respect of Intermediaries Legislation (other known as IR35) explaining their new IR35 Business Test and also providing some typical IR35 example scenario's.