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...
READ MOREMove to make HMRC preferential creditor ‘ill timed’
Accountancy firms are warning that the reintroduction of HMRC’s status as a preferential creditor at the beginning of this month could have a significant impact on businesses’ ability to obtain finance, and risks compromising the economy’s recovery from the current pandemic.
From 1 December HMRC will be repaid certain outstanding taxes (including employees PAYE and National Insurance contributions, VAT and CIS) ahead of lenders’ floating charges and suppliers if a business becomes insolvent. There is also no time limit as to how far back HMRC can look when assessing its claim.
Read more at Accountancy Daily.
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Virtual Christmas parties can be tax exempt
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