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Specialist accountants for contractors, Danbro, are advising businesses that engage self-employed sub contractors to ensure they cannot be classified as workers.

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Ten years on from the introduction of IR35, the controversial tax legislation aimed at contractors is facing a challenge in the form of an Early Day Motion from Liberal Democrat MP Lorely Burt, calling for its abolition.

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HMRC have announced some details of the New Disclosure Opportunity (NDO) which is due to take place this autumn. In order to encourage taxpayers to disclose an undeclared offshore account the penalty level has been set at 10%. HMRC hope that the low penalty will encourage taxpayers to come forward. HMRC are currently liaising with various banks to obtain details for offshore account holders.

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Tax credits are state benefits which are generally available to lower income families. However, entitlement to the credits is significantly increased where individuals pay for childcare or suffer a drop in normal levels of income perhaps due to incurring trading losses or redundancy.

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HMRC are warning that an email is currently being sent to some taxpayers advising them that HMRC have “approved them to receive monies”. Apparently the email states that this is as a result of an HMRC program on 15 June 2009.

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The government has published its report Digital Britain which sets out the government’s plans for the UK to be at the forefront of the global digital economy.

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