HMRC umbrella company ‘checking tool’ looms for workers
Umbrella company consultation response and guidance due from HMRC, as more details come out on Tax Administration and...
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HMRC has won a landmark case at an Upper Tax Tribunal, which has ruled that tax relief cannot be claimed on ‘in-specie’ or non-cash contributions to personal pensions, potentially opening the way for the tax authority to reclaim millions.
‘In-specie’ contributions to personal pension schemes refer to non-cash assets, such as shares or commercial property which are transferred into a self invested personal pension (SIPP) without being converted into cash first.
Read more at the Accountancy Daily.