The gig economy probably existed before William Pitt introduced Income Tax in 1798 and gradually evolved from musicians travelling around doing gigs to the present day enigma termed ‘the gig economy’. Now with The Revenue’s spyware and a record number of snitches around, even the rich singers and comedians who sometimes fit in a private party or a 30 minute “cash” appearance …
Are you affected by IR35 tax legislation? If so it is important to know the rules. IR35 is a set of rules concerning tax and National Insurance contributions if you work through an intermediary via a contract.
Now that the mad rush is over for another year we can all take time to reflect on what has been a successful period.
With the accelerated payment scheme now brought in by HMRC this may be a good time for clients who have concealed income offshore or have been party to a tax avoidance scheme, to consider making a voluntary settlement.
Ricky and Jason attended the PfP tax investigation evening this week at the Caves in Edinburgh.
If you have been renting out or have sold residential property in recent years and have not declared the income or capital gains to the taxman, there is an amnesty being run by HMRC.