Today was the first working day of the new Finance Bill 2014.
In the Bill, the government published new legislation that covers a range of topics including personal tax allowances, income tax on savings and supporting SMEs.
But the one aspect that affects employment and recruitment directly is that of employment taxes.
Specifically, the legislation aims to stamp out false self-employment.
HMRC is aiming to tackle the avoidance of employment taxes, by taking action to prevent employment intermediaries (both onshore and offshore) from avoiding their obligations, including through disguising employment as false self-employment.
In response to the legislation, Resourcing Solutions has moved to a shortlist of six suppliers to ensure our payroll process is compliant.
Tom Holbrow, Business Development Director said:
“The government’s long-term economic plan is to build a stronger, more competitive economy and a fairer society. They are taking action against those who try to dodge their tax obligations.
“We are complying with the new regulations and have reviewed our processes and suppliers accordingly. The changes we have introduced will not only ensure that we are fully compliant with HMRC legislation but also result in a better service for our contractors.”
To see how it affects our contractors, please view our umbrella company pages.
For more information contact email@example.com or call +44(0)118 932 0100.