ir35 business test Articles

IR35 Business Entity Tests

HMRC has announced that its much criticised IR35 Business Entity Tests (BETs) are to be scrapped from 6th April 2015. A review by the IR35 Forum found that the tests were used very little and not fulfilling their intended purpose.

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).

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.

Offshore Umbrella Company

We’ve all heard this famous saying “If it’s too good to true, it probably is!” on the news recently in respect of Jimmy Carr and Take That members who have been paying considerably less tax (in percentage terms!) than the rest of us.

4Dm1n | 25 May 2012
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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.

The HMRC Business Test that was due to launch on 7th May 2012 is not yet visible on the HMRC website.