What you need to know about trusts, including how they are taxed. Trusts are legal arrangements where assets are placed into the care of an individual or organisation that manages them for the benefit of someone else. For the person setting up the trust, this arrangement means they know their assets will be properly looked … Continued
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HMRC reopens self-assessment helpline HMRC has reopened the self-assessment tax helpline from 4 September after it was closed for three months over the summer. Between 12 June and 3 September, callers were redirected to digital services to give HMRC staff time to deal with other phone enquiries and handle the postal backlog. This was not … Continued
How the off-payroll rules will affect you and your business. Contractors and freelancers operate through a private company to enjoy a better tax treatment compared to sole traders — but a more favourable tax position is actually never guaranteed because of off-payroll working rules known as IR35. According to IR35, if a contractor or freelancer … Continued