This ebullient is about

  1. Zero Hours Contacts
  2. Companies House Checks
  3. VAT Discounts
  4. Exporting from UK
  5. New IR35 Guidance
  6. Tax Avoidance Schemes
  7. NI Contribution while working Outside UK
  8. Tax Debts, Class 2 NI & Cash ISA

1

Zero hours contracts
The government plans to allow employees on zero hours contracts the freedom to find
work with more than one employer. This will involve the removal of an exclusivity requirement and the development of a code of practice on the fair use of zero hours contracts by the end of 2014.
Government crackdown on zero hours contract abusers
  

2

Companies House checks
From 8 June 2014, in addition to checking new directors against the register of disqualified directors, checks will also be made against the list of undischarged bankrupts.
  

3

VAT discounts
HMRC are consulting on VAT: Prompt Payment Discounts. From 1 April 2015, the way that many businesses account for VAT when offering such discounts will change.
  

4

Exporting
Businesses interested in exporting or engaging in international business can find information on the UKTI supported opentoexport.com website. Among other resources is a guide to the 10 key steps for those preparing to export.

  

5

IR35 guidance
HMRC have replaced their frequently asked questions with updated guidance.

  

6

Accelerated payments on tax avoidance schemes
HMRC have published a list of the tax avoidance schemes on which users may be charged an upfront “accelerated” tax payment. It is understood that payment notices will be issued from August 2014 and over the next 20 months
  

7

National Insurance contributions when you work outside the UK
When employees go abroad to work it is easy to think about tax, but overlook National Insurance implications. One aspect is that a certificate of continuing UK liability may be required to confirm that no overseas liability arises as well.
  

8

  • New rules will be introduced that will allow HMRC to take tax debts of more than £1,000 direct from a taxpayer's bank account.
  • The separate collection of Class 2 National Insurance contributions is abolished from April 2016. From that point, and about time too, it will be collected with self-assessment tax liabilities.
  • Cash and stock individual savings accounts (ISAs) are to be merged and the limit raised to £15,000 a year.
 

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